| This page will have answers to
common questions as well as links to associations to provide
additional information on Credit Union services.
What is a Credit Union?
A Credit Union is a not for profit financial organisation
owned and operated by its members. Members pool their savings
and it is from this pool of funds loans are made to each other,
Can anyone join Yoker Credit Union?
Anyone who lives or works in the Glasgow and all
‘G’ postcodes, known in Credit Union terms as
the common bond.
What is a common bond?
A common bond is link all members have in common,
such as living or working in a certain district or place.
Who is in charge of the Credit Union?
The Credit Union is owned by all members. At the AGM the membership
elect the Board of Directors who then set the policies and
procedures by which the Credit Union operate.
When can I apply for a loan?
Members have the right to make application at any time, provided
all membership criteria have been met. All applications shall
be monitored and assessed on the ability to repay and will
be considered by a loan officer or the Board of Directors.
How much interest will I pay?
With a loan from your credit union there are no hidden costs.
APR is 12.68% calculated at 1% per month on the reducing balance,
there is no penalty for repaying your loan early.
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