Payroll Loan

Payroll Loans are for those members who are part of a Payroll Deduction Scheme. They make use of the versatile set of standard loan products offered by the credit union, but repayments are taken direct from the members’ salary by their employer. City of Plymouth Credit Union also regard the risk of default as being reduced with these loans, as repayments come directly from the members’ employer, something that the Loan Officers appraising the loan take into account during the process of reviewing the loan. Click the button below to see all the loans that are on offer.

Features

  • Exclusive to members of a Payroll Deduction Scheme
  • Access to all the standard loan products
  • Lowered risk may result in more favourable loan terms
  • Covered by Life Insurance, subject to Terms and Conditions
  • We will normally process loan applications within 5 working days (allow 10 working days in run-up to Christmas), however larger loans may take longer.