Before applying for a loan, we expect each member to have been saving regularly for up to a period of 13 weeks. After that time a loan application will be considered, provided that the application is for a productive purpose such as a holiday, car tax/insurance, home improvements etc. A member must complete an application form which requires details of:
- Personal details
- Proof of Income
- Proof of expenditure
- All outstanding debts elsewhere
Loan applications are then assessed by our Credit Committee for approval.