Introductory Loan

This loan is for new members who are also new employees (under 1 year’s employment).

If you are a new member and newly in the job, you can apply for up to £1,000 to kick start your account, at the fixed rate of 16.9% APR. You can apply for this loan any time after your first deduction / payment to the account has been made.

You can apply for your next loan once you have repaid 50% (half) of your loan balance (loan balance without interest) OR after 6 months worth of loan repayments have been made – whichever is sooner.

Repayment example:
£1,000 introductory loan paid back within a year, at £25 per week / £100 per month, costs you just under £79 in total interest (16.9% APR).

If you are a new member but have been in employment for over 1 year, then you can apply for any other loan product instead.

As a responsible lender, we cannot guarantee loan outcomes; all loan applications are subject to affordability and sustainability checks, including credit check.

Why Choose Us for an Introductory Loan? 

• Fixed Interest Rates – Enjoy the competitive rates advertised, that won’t break the bank.
• Goes towards building a good credit history.
• No Hidden Fees – no set up fees or early repayment penalties, we want you to know exactly what you’re signing up to.
• Kick start your Credit Union borrowing history with an affordable first loan.
• Free Loan Protection – as with our other loans, the Introductory loan is covered by our free loan protection benefit (up to a maximum balance of £20,000, Ts & Cs apply)
• Easy Application  -Apply online or visit us in person—whichever is easier for you!
• No Automated Lending decisions; all loan applications get our personal touch.

📞 Call us at 0141 221 7474

🌐 email us at enquiries@transportcu.co.uk

🏢 Visit us at 186 Argyle Street, Glasgow, G2 8HA

Start your financial journey here, at The Transport Credit Union.