Loans
When You Need A Helping Hand
LVCU can help with a loan thats suited to you.
Our loans are tailored to you as a person to help with saving for those bigger purchases. With our high approval rate and simple application you can apply immediately.
Secured Against Saving Loans
Members borrowing less that or equal to their total savings can secure their loan against savings and borrow at our preferential low rate of 12% representative APR. Terms and Conditions apply.
Benefits of Borrowing From LVCU
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No Credit Needed
- Apply immediately
- High approval rate
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First loan maximum of £1000
- Simple application form
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Maximum load available £3000
Personalised Loans To Suit You
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All our decisions area based on your individual needs as a person – not based on a computer score card.
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Quick and easy application.
- Loans are exclusive to Credit Union Members who must save when repaying the loan (min £1.00).
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Clear interest rates which are guaranteed and will not change.
- All loans are subject to status and our lending criteria.
Example Comparison
UN-SECURED LOANS
| Amount Borrowed | Weekly Repayments | Number of Weeks | Interest | You Pay |
|---|---|---|---|---|
| £100 | £2.24 | 52 | £15.96 | £115.96 |
| £300 | £6.70 | 52 | £48.06 | £348.06 |
| £500 | £11.16 | 52 | £80.15 | £580.15 |
| £1000 | £22.32 | 52 | £160.30 | £1160.30 |
SECURED LOANS
| Amount Borrowed | Weekly Repayments | Number of Weeks | Interest | You Pay |
|---|---|---|---|---|
| £100 | £2.05 | 52 | £6.21 | £106.21 |
| £300 | £6.13 | 52 | £18.70 | £318.70 |
| £500 | £10.22 | 52 | £31.16 | £531.16 |
| £1000 | £20.43 | 52 | £62.35 | £1062.35 |
Join LVCU
By joining LVCU you will be investing in your community and by growing the business we can continue to develop our programmes dedicated to increased financial well-being.
It’s not just about ethical finance though. Whether you are saving for Christmas, a holiday or just for a rainy day or perhaps considering a loan with the Credit Union, then we have a product to suit you. Most importantly, because we are non-profit, all of this can be offered to our members in the most competitive and flexible ways.
Unlike a bank, credit union shareholders are the customers who use them and profits are shared equally amongst the members at the end of the year.