Loyalty Loan Example
Any member of the Credit Union can apply as long as you have the savings to cover your borrowing. What that means is that if you are applying for £2,000, you must have £2,000 saved in the Credit Union already in order to secure your loan.
Important Information
As this loan is secured against your savings you must maintain savings of at least an equal amount to your outstanding loan at all times.
If you've got the savings in a No1 CopperPot Cash ISA or Notice Plus Account then this is also a great way of leaving your savings untouched as once you withdraw from that account, you are not able to replace the funds. No1 CopperPot is not currently accepting any new applications for ISA’s or the Notice Plus Account.
You’re covered with Life Protection
Life Protection is included with all our loans and covers you up to the age of 70. This does not cost you anything, it is simply another benefit of borrowing from the Credit Union and has been created purely to help our members.
Loans are protected up to a maximum of £40,000 per member. This means your loan would be cleared, ensuring your debt does not remain outstanding, subject to our terms and conditions.
All benefits are paid at the discretion of our Board of Directors. Life Protection is not an insurance policy and is not guaranteed. For more information please click here.
Additional Borrowing
If you have an existing loan with us and want to borrow extra, there are two options available. Click here to see more information.
Need help?
If you are experiencing financial difficulty, or are struggling to repay your loan with us, please contact us as soon as possible and a member of our team will be able to assist you.
