loan assessment

| loans | standard loan | secured loans | credit committee |
| loan assessment | repaying your loan | change of circumstances |
| acting as guarantor |

The majority of loan applications can be approved by our fully trained loans officers. However if it’s your first loan, if it’s for a particularly large sum of money or there are concerns about how the account is being maintained, then the application will be referred to Credit Committee.

credit committee

Who are Credit Committee?

Credit Committee is made up of a group of volunteers who meet every Tuesday and Friday evening to adjudicate on loans. Each of them has many years of Credit Union experience and in making their decisions they take into consideration whether by granting you a loan are they helping you or getting you into a debt situation you can’t afford.

They also have a responsibility to other Members of the Credit Union to ensure money lent is likely to be repaid. After all money that you borrow belongs to Members of the Credit Union, therefore, if it is not re- paid it is other Members who suffer.