Sheffield Credit Union have announced the launch of a second new loan product in the space of just two weeks. The School Essentials Loan is designed to help members spread the cost of school uniforms and other essential back to school items.
Like the Household Goods Loan, which was launched on Monday 2nd July, the School Essentials Loan will be available to new and existing members.
Loans of up to £250 are available. Existing members are able to apply for these loans in addition to their current loan if they have no more than one Credit Union loan product currently running.
Repayments have been designed to be affordable and easy on the pocket of new and existing members. The standard repayments on a loan of up to £250 will be just £6.00 per week. Upon providing proof of purchase, the interest rate payable will be 30% APR.
More information on our new School Essentials Loans can be found here.
This loan product will be available between the start of July and end of September.
All loans are provided subject to status and affordability. Please be aware that you may pay more interest and be subject to additional charges if your loan repayments are not received on time. Repayments are reported to Credit Reference Agencies including Experian which could affect your credit record if you do not keep up to date with your repayments.