Green home-improvement loan
Borrow for home insulation, heating upgrades or solar equipment if you live or work in Just Credit Union’s local membership area.
Αυτή η ευκαιρία είναι προς το παρόν διαθέσιμη στα Αγγλικά.
Use the Preferential Green Loan for heating controls, wall, attic or floor insulation, windows and doors, boiler upgrades and pipe insulation, heat pumps, solar water heaters or solar panels.
Just Credit Union transfers the loan to your bank account; you repay the borrowed money with interest. Its ordinary member loans start at £300 and go up to £15,000, subject to affordability and status. The repayment period depends on loan type and size, from three months up to a maximum of five years. Your actual interest rate and repayments depend on the amount and your circumstances; calculator figures are illustrative. Interest is calculated daily on the outstanding loan balance. The member-loan terms cap interest at 3% per calendar month on the outstanding balance (42.6% annual percentage rate, or APR); this is a ceiling, and your offered rate is assessed individually.
You also make a savings payment alongside each loan repayment. This builds savings separately from repaying the loan. Keep savings equal to at least four weekly repayments or one monthly repayment as security; if you have less, you cannot withdraw savings until that level is reached. There are no arrangement or administrative fees. You can increase repayments or repay early without penalty, paying interest only up to settlement. Repayments may be reduced in certain circumstances.
For a loan agreement covered by the Distance Marketing Directive, you can cancel within 14 days by notifying the credit union and returning all the borrowed money. Outstanding loans must be fully repaid before ending membership. If you default, the credit union may use your savings towards the debt after notifying you and giving you an opportunity to pay. It may report a default to credit-reference agencies and use debt collection or legal action to recover the money.
Eligibility
- Be aged 18–65 and have income of at least £125 per week.
- Be a member, or eligible to join by living or working in Shropshire, Telford & Wrekin, Herefordshire, Stafford, South Staffordshire, Wyre Forest, Newcastle Under Lyme, Malvern Hills, Worcester or Stoke-on-Trent.
- Pass the lender’s affordability and status assessment. Provide three years of address history, employment information, and your income and outgoings. A poor credit history or a previous refusal by another lender does not automatically rule you out; applications are assessed individually.
- Build and maintain the required security savings alongside repayments.
- If you want to add borrowing to an existing loan, a top-up can only be considered three months after the previous loan was approved.
How to apply
- Κατάσταση
- Ανοιχτό συνεχώς
- Όροι του κύκλου αιτήσεων
- New members can join and apply at the same time; loans remain subject to eligibility and affordability.[^c4][^c5][^c23]
You can join and apply for your green loan at the same time. Complete Just Credit Union’s online application, or request a paper form by calling 01743 252325 or emailing info@justcreditunion.org and return it to the office. Supply your address history, employment details, income and outgoings for the lending assessment.