Whenever you take a loan you sign a promissory note (a legally binding document) agreeing to pay off your loan within a specified period of time.

The maximum period for most loans is 5 years, however some special rate loans such as oil, holiday and Christmas have to be completed within a shorter period.

We always recommend that Member’s complete their loan as quickly as possible in order to minimise the amount of interest they pay.

Change of Circumstances

Sometimes life can throw us all a curve ball.  If something happens that affects your ability to meet your agreed repayments, it’s very important that you contact us to talk about your situation and to work out a plan of action.  Please don’t bury your head in the sand.

It is important to realise that not paying your loan as agreed can impact on your credit record.