Credit unions like Wave Community Bank are known for providing an ethical alternative to borrowing money but do you really understand how different Wave Loans are?
The first thing to remember is that Wave Community Bank doesn’t lend money to people unless they can afford to pay it back. Unlike some loan companies, we don’t want you to stay in debt and only able to afford to pay-back the interest. We want you to be in a position where you can pay off your debt and be able to save in future.
To help our members do that, all of our loans are Saver Loans and anyone borrowing from us makes a contribution to their savings as part of the loan repayments so they have build a savings pot by the end of their loan.
Our loans do not have arrangement fees or early repayment penalties so you can pay back your loan earlier that your agreed repayment schedule with no penalties.
