• Do I have to be a member to take out a Line of Credit?
• How much can I borrow?
• How is interest calculated on my account?
• How long do I have to repay my balance?
• How do I make repayments to the account?
• How often will I receive information on my account?
• What security is required?
• What happens if I get sick, have an accident or lose my job?
• Do I need to take out insurance?

Do I have to be a member to take out a Line of Credit?
The Credit Union is a mutual financial services organisation and as such is owned by its members, each one of whom is a shareholder. Therefore you must be a member of the Credit Union to have a Line of Credit. Learn more about becoming a member. ^

How much can I borrow?
The maximum amount you can borrow is dependent on your ability to meet your repayments. ^

How is the interest calculated?
Interest is calculated daily and charged monthly.^

How long do I have to repay my balance?
A Line of Credit is a continuous credit contract which means as you pay it back you can redraw on it up to your agreed limit.^

How do I make repayments on the loan?
You can arrange to make your loan repayments either by payroll deduction, direct debit from your savings or transaction account, internet or telephone banking transfer, at any of our branches or using giroPost. Learn more about these repayment methods. ^

How often will I receive information on my account?
Statements are issued monthly or every three months as required. Duplicate statements can be requested at any time from our office.

Account Balances and Statements are also available through our Internet and telephone banking services. ^

What security is required to take out an Line of Credit?
No security is required. ^

What happens if I get sick, have an accident or lose my job?
The best way to obtain peace of mind that your repayment obligations will be met in the case of accident, illness or involuntary unemployment is to take out insurance. Learn more about Loan Repayment Insurance. ^

Do I need to take out insurance?
It is recommended that you take out insurance on your loan, although it is not compulsory it is designed to cover your lending obligations in the case of sickness, accident or involuntary unemployment. Although you do not have to purchase your insurance through us, we offer a range of insurance policies. Learn more about Loan Repayment Insurance. ^

Apply

Apply using our simple online personal Loan application form

Questions?

If you have any questions, please contact us