wdcu_header_07_borrow_02_new_employee.jpg

Applying for a New Employee / Starter Loan

Borrow from £300 to £500

Our New Employee Starter Loan can help with an instant loan to bridge the financial gap until you receive

your first wage. It provides money to help pay bills, buy food and any travel to work costs.

 

It is also great way to become part of the Wherry Dragon Credit Union and provide financially for you and your family in the future. Just one simple membership and loan application form to complete.

 

Conditions

 

You must work for one of our partner organisations, be recently employed and not yet received your first pay.

You must be employed for a minumum of 16 hours on a permanent basis.

All payments to be made by payroll.

The loan must be repaid over 12 months.

You must save £15 a month or more on top of your loan repayment.

You are not eligible for any other loan until this loan is repaid in full.

Benefits

• Free Loan Protection

• Free Life Savings

• Fixed interest rate of 42.57%

• Your savings grow as you repay the loan

Examples of Loans and Repayments

LOAN

AMOUNT

£300

£400

£500

PAYROLL

DEDUCTION

£46.00

£56.00

£66.00

TO

SAVINGS

£15.00

£15.00

£15.00

LOAN

REPAYMENT

£31.00

£41.00

£51.00

TOTAL

INTEREST

£59.69

£80.30

£100.90

Download an Application Form

Back to Borrowing Page