Once you become a member of our Credit Union, you can set up deduction from your salary, or you can set a standing order to save on a regular basis, or at a frequency that suits you.
Because Eastern Savings & Loans does not have to pay shareholders, we can provide loans with low interest rates that are suitable for everyone. You do not need to have savings with us before you take out a loan, you can join our Credit Union and apply for a loan the same day.
We have three loan products, the Starter Loan, for short term credit needs, (£500 - £1,000). The Flexible Loan, (£1,000 - £3,000) and the Advantage Loan (£3,000 - £7,500) for larger longer term borrowing. Our interest rates are very competitive and with no fees or charges for early or additional repayments, we could save you money. Our loan application form is easy to fill out, and we aim to get a decision to you in 3-4 working days.
If wish to apply for a loan the repayments are made in the same way as your savings from salary or via standing order from your bank account.
Important Note: We consider all loan applications from our members individually, helping you to borrow responsibly according to your ability to repay.