How much do you want to borrow?
£50 £5,000Over how many months?
2 months 36 monthsMonthly Repayment
Total Interest paid
Arrangement Fee
Total amount paid
6.2% - 26.8%
12.7%
£50 - £5,000
Up to £5000 - 36 months
Standing order
Collection points
Normally paid out within 2 days of receiving the completed paperwork. Although BACS transfer can take 3 days.
No Fee
BACS transfer or cashable cheque
No
163rd for APR of 423 loans in the UK (See Lender League Table By APR)
Members must live or work in the area served by Mendip District Council
Mendip Credit Union can offer loans between £50-£5000 to their members. The loans work on a tiered basis based on the amount of savings a member has and their loan balance.
1.For members that have less than 25% held in shares of their loan balance the APR will be 26.8%.
2. For members who have between 25%-50% held in shares of their loan balance then the APR will be 12.68%.
3. For members with more than 50% held in shares of their loan balance the APR will be 6.2%.
Mendip Community Credit Union like members to demonstrate that the repayments on their loan are affordable for them. This can be done in two ways, either by showing a regular pattern of saving or by an evidenced budget planner.
For further information on Collection Points please visit: http://www.mendipcommunitycu.org.uk/13-2
Mendip Community Credit Union cover Frome, Street, Shepton Mallet, Wells and Glastonbury
