Lochaber Housing Association

Highland Communities Credit Union - Loans

There may be occasions when you need a little help, providing you meet our eligibility criteria you can apply for a loan with Highland Communities Credit Union.

Borrowing from Highland Communities Credit Union is simple and straightforward. There are no fees or charges and the rates are competitive.

Highland Communities Credit Union charges interest each month on the decreasing balance of the loan.

We offer both secured and unsecured loans:

  • Secured loans - the amount borrowed is to the value or lower of your total share balance and interest is charged at 0.5% a month (6.2%)
  • Non-secured loans – the amount borrowed can be up to 3 x the value of your total share balance.

For loans under £5,000 interest is charged at 1.5% per month (19.6% APR).

For loans over £5,000 interest is charged at 0.75% per month (9.4% APR).

We now also offer an Instant Loan of up to £250.00 for new members. Interest is charged at 2% per month (26.8% APR). These loans must be repaid in one year and the member must also save whilst repaying the loan.

All loan decisions are based on your income and expenditure and ability to repay.

What's more, all our loans also have the added benefit of free Loan Protection, giving you and your loved ones added peace of mind.



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