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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 with the Credit Union
  • A member can then apply for a loan of four times their shares up to a maximum loan of £7500
  • 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 (14.93% APR)
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Advantage Loan 14.93% (Monthly)

Monthly Payment: £88.85

Total Payments: £1,066.19

Total Interest: £66.19

Advantage Loan 14.93% (Every Week)

Weekly Payment: £20.43

Total Payments: £1,062.35

Total Interest: £62.35

Advantage Loan 14.93% (Every 2 Weeks)

Weekly Payment: £40.90

Total Payments: £1,063.50

Total Interest: £63.50

Advantage Loan 14.93% (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.