Fixed repayments over 12 months
If you are an employee of one of our Payroll Partners (e.g. East Ayrshire Council) you can take advantage of our new Fast Loan product.
This means you can apply for a loan of £500 without having to save first. Simply call in to our office with your most recent payslip and ID and Address Verification and complete the Easy Loan 500 application form for a quick answer. Reduced requirements for applications and fixed repayments over 12 months – shares in your Savings Account (Share 1) will also be attached.
Loan Protection Insurance is a product designed to pay off any outstanding loan balance in the event of a member’s death at no direct cost to Members.
This cover means that the “debt dies with the debtor” and any savings which the member has will not require to be set against the outstanding loan balance.
Cover is provided for all eligible members’ loan balances up to £10,000 from age 18 to the member’s 80th birthday.
Conditions apply (for full information please speak to one of our volunteers).
Our Loan Protection Insurance is a unique value added benefit which gives you a level of additional cover you simply would not get with traditional banking institutions.
Loans are based on a member's ability to repay. It makes no sense to lend money to people who are unable to pay their loan back. However if members do experience difficulties in repayment Ayrshire Credit Union will endeavour to agree a schedule that will be within the member's means, at the same time ensuring the loan is repaid.