This policy relates to members who are aged 70 and over. Loans are available to members 70 and over who have been with us for 3 years or more. Our Credit Committee have discretion to waive this requirement in exceptional circumstances.

• The maximum loan is 2.5 times your savings balance (up to maximum of £5,000). For example – if you have £200 in your savings account with us – the maximum loan we would normally agree would be £500.
• The maximum repayment period is 36 months however all loans must be repaid by the time the member reaches age 75.
• Members, 75 and over, may apply for a loan – the amount that we would be able to lend would be your savings balance plus 25%. For example – if you have £400 in your savings account with us – the maximum loan we would normally agree would be £500. These members will be charged the same Interest rates as other members

In the event of death
In the event of death, any shares held by the member will be used to offset the loan.

Applying for a loan
If you meet the criteria described above, you can apply for a loan with us here. Please visit our loans calculator to find out what your repayments would be.