Loan Assessment

As your local lender we want to lend to as many people as possible.  However, the most important factor for us when we are assessing your application is to make sure that you can afford the loan.  We do this to protect you and to protect our other members, as after all it is their money that you are borrowing.

The majority of loan applications can be approved by our fully trained Loans Officers and you will receive an immediate decision.

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 either Special Credit Committee or Credit Committee.

Special Credit Committee/ Credit Committee

Special Credit Committee is made up from a representative from the Board of Directors, a Staff Supervisor and a member of the Management team.  They meet up to three times a week to assess applications.

Credit Committee is comprised of a group of volunteers who meet every Thursday afternoon to adjudicate on loans.

Each of these volunteers has many years of Credit Union experience.