Members can apply for a Shares Loan, where the first and second loans have an interest rate of 2% per day on a reducing balance, at 26.8% APR. Members who have had over three loans repaid with PCU are eligible for further loans charged at 1% per day on a reducing balance, at 12.68% APR.
Our members regularly use PCU Shares Loans for summer holidays, weddings, home redecorations, season tickets, spreading the cost of Christmas, and car financing.

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APR 11.00%

APR 11.00%

Repayment Summary*:

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∗Terms & Conditions Apply. All figures given on this website are for your general information only, and give a rough guide to loan repayments. Any statements on this website do not purport to be authorative or legally binding. You are advised to check with our offices for up-to-date rates and offers.

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Loan Enquiry

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What we require from you
1

Outgoings

  • 2 months bank statements (most recent)
  • Credit card statement (if applicable)
2

Proof of Income

  • Employed - 2 recent pay-slips (comes under bank statements)
  • Self-employed - Most recent set of accounts and latest tax returns OR Notice of self-assessment
3

Identification

  • Photo ID - Passport or Driving License
  • Proof of Address - Current utility bill or bank statement (within 3 months)
  • or Proof of Address - Government issued documentation relating to tax or benefits (within 3 months)
Lending criteria

Credit Check

  • We will perform a credit check on you to gain more information before granting a loan.

Ability to Repay

  • It is our responsibility to all members to ensure that we only lend members’ money to other members when it has been established that there is an ability to repay the loan. A borrower must be able to afford the loan repayments, including interest, over the full duration of a loan.

Free Loan Protection Insurance*

  • *Provided by the credit union to all members.
How to apply

How To Apply

Members can apply for a first and second loan at an interest rate of 2% per month on the reducing balance (26.8% APR). Members with over 2 loans paid are eligible for further loans charged at 1% per month on the reducing balance (12.68% APR).

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Please note: if you do not meet the repayments on your loan, your account will go into arrears. This may affect your credit rating, which may limit your ability to access credit in the future.

If you would like more information on applying for a loan with PCU please contact us today.

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