The two most important things about a loan are, being able to borrow the money and being able to repay it. At Croydon Caribbean Credit Union we encourage you to manage your money carefully by structuring loans around your needs and your ability to repay. Establish a good savings record by saving regularly so as to build up security for your loan.

Why a Croydon Caribbean Credit Union Loan is different

  • There are no hidden fees or transaction charges – new
  • Our interest rates are fair and reasonable compared to others in the market
  • Repayments are calculated on your reducing balance, so you pay less interest with each repayment
  • Your credit union loan is insured – subject to terms and conditions – at no direct cost to you. Other lenders charge for this
  • You can pay off your loan early, make additional lump sum repayments or increase your regular repayments, without a penalty. Other lenders may charge you extra for paying them back faster!

Interest Rates

Standard Loan 1.25% per month on the reducing balance
Loyalty Loan 0.75% per month on the reducing balance

Our loan rate of 1.25% (16.08% APR*) means you can borrow at a reasonable rate of credit and get a great deal at Croydon Caribbean Credit Union

*Check out what a £5,000, 4 year variable interest rate loan at an APR of 16.08% would cost on our Loan Calculator


How do I apply for a loan?

To begin with, you have to be a member of Croydon Caribbean Credit Union For more information on becoming a member please click here. For members, please visit or call us and we can discuss your needs and give you an application form.

The following documentation may be required to process a loan application:

  • 3 recent pay slips (for workers)
  • Most recent tax return / audited accounts (for self-employed)
  • Copies of benefits / pension information (for those on social welfare)

Depending on amount of loan and borrowers credit history with the Credit Union, the following may also be requested:

  • Recent current account bank statements/credit card statements
  • Mortgage statements / confirmation from mortgage lender
  • Proof of purpose

Loan Calculator

Standard Loan Rate – 1.25% per month Loyalty Loan Rate – 0.75% per month

Loan Calculator