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Advantage Loans

  • Members can apply for an Advantage Loan as long as they have been a member of ECU for at least 4 years with a previous good loan history within the Credit Union.
  • Open to members who have both Instant and Loyalty Loan products
  • These loans can be applied for to combine both products into one Advantage Loan.
  • Members can apply for a maximum of four times their shares
  • Top ups on second and subsequent loans will only be considered after 20 weeks or five months of regular loan repayments. Top ups maybe requested for up to 4 times the shares at time of application minus the outstanding balance.
  • These loans are charged at 1% per month on a reducing balance (12.68% APR)
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Advantage Loan 12.68% (Monthly)

Monthly Payment: £88.85

Total Payments: £1,066.19

Total Interest: £66.19

Advantage Loan 12.68% (Every Week)

Weekly Payment: £20.43

Total Payments: £1,062.35

Total Interest: £62.35

Advantage Loan 12.68% (Every 2 Weeks)

Weekly Payment: £40.90

Total Payments: £1,063.50

Total Interest: £63.50

Advantage Loan 12.68% (Every 4 Weeks)

Weekly Payment: £81.98

Total Payments: £1,065.80

Total Interest: £65.80

Whilst every care has been made in the production of this document, the Credit Union, or its staff, cannot be held responsible for any omissions, errors or other mistakes made herein. This document is for illustrative purposes only, so as to give you, the borrower, an overview of the potential cost of borrowing. ECU would be happy to give you a tailor-made quote to suit your borrowing needs.