Autumn 2015
ST.GREGORY’S CREDIT UNION LTD
The Credit Union Office, The Presbytery
Swarcliffe Drive, Leeds LS14 5AW
Telephone: 0776 108 1338
E-Mail: stgregoryscu@gmail.com

St.Gregory’s Credit Union is authorised by the Financial Conduct Authority and regulated by the Prudential Regulation Authority and the Financial Conduct Authority under the FRN (Firm Reference Number) 213539

• St. Gregory’s Credit Union Ltd offers Members a Loan Facility at very competitive rates of interest (subject to status). This can be for any purpose such as Home Improvements, a holiday fund, a new car purchase or simply to pay off some bills. A Loan can be used for any purpose by the Member. As a matter of interest a number of Members often take out a loan to fund annual pilgrimages to Lourdes, Rome and Fatima for example.
• Current Loan Interest Rates are 0.7% per month, equivalent to 8.4% Interest per annum to Members, and there can be a repayment period of up to 5 years of the Loan, which are Rates infinitely better than those charged by the likes of Bright House, Provident, Pay Day Loan Companies and Wonga. Avoid at all costs those extortionate Interest Rates charged by other Sub Prime Moneylenders and the Unlicensed Loan Sharks.
• It has come to our attention there are now some 15+ Pay Day Loan Companies now operating within the East Leeds area, so BE AWARE OF THIS and avoid their “so-called” easy advertising enticements, as their hidden loan interest rates are enormous. Also the Churches Against Poverty Organisation in Leeds and the Leeds Citizens Group upholds this stance against such organisations as well.
• By Law, a Credit Union may not charge any more for Loan Interest than 1.00% per month, equivalent to 12.68% per annum. However, St. Gregory’s Credit Union Ltd offer a LOWER RATE of LOAN INTEREST than the Credit Union Law provides for at this current time.
• New Members joining the Credit Union must save for a period of three months, before making a Loan Application for consideration.
• St. Gregory’s Credit Union Ltd has a duty of care to protect Members Interests at all times.
Remember if it were not for the goodwill and confidence of Members providing those Share Deposit Funds over the many successful years of operation, then the Credit Union would not be in a position to be able to offer a Loans facility to its Members

• Members should apply for a Credit Union Loan with confidence, but do not overstretch your resources, just simply keep to the Scheduled Loan Repayment Plan that the Member has agreed and signed up for.
• St. Gregory’s Credit Union Ltd can help you with your financial needs, but you must help the Credit Union in return by compliance with the terms of any Loan Agreement made.
• The solid principles adopted by St. Gregory’s Credit Union Ltd are compassionate, understanding and certainly non-judgemental.
• All Officers and Helpers provide an efficient and friendly service towards our Members, and all transactions made are strictly confidential and abide by the legislation of the Data Protection Act.

Are you a Member? If so call into the Credit Union Office for a free Loan Quotation ....... Without obligation!

Apply with confidence, but DO NOT OVERSTRETCH YOUR RESOURCES, only borrow what you can afford to pay back

All Loan Applicants will automatically have their previous Loan Repayment Record (if any) checked and verified by the Loans Committee

Once a Loan Agreement is signed, it becomes a LEGAL BINDING DOCUMENT, any breach of the Agreement will have potential serious consequences

All we ask is that you repay your Loan, on time, and on the dates specified in your signed Loan Agreement

St.Gregory’s Credit Union Ltd request that all Loan Repayments are made by Bank Standing Order (A form is provided for this purpose)

We recommend a limit of a Loan Application Sum to be no more than 2 to 3 times the value of the Member’s Shareholding Value, OR where the Loan Applicant can demonstrate their reasons and ability to repay a higher Loan Application value

Top-Up Loans are considered by the Loans Committee to a Member already holding a Credit Union Loan (again subject to the Member keeping to their original repayment schedule).

We recommend that NO MORE THAN TWO TOP-UP LOANS will be considered during the duration of the Member’s Original Loan Application

Any failure to repay the Member’s Loan, without a genuine reason given, or prior notification to the Credit Union, WILL RESULT in DEBT LETTERS being issued to the Loanee, requiring that any ARREARS ON THE LOAN be brought up to date within a reasonable period of time.



Failure to do so will result in your Loan Arrears being sent for specific Debt Recovery Action, where you will be notified of the likelihood of being taken to Court, where you will have to repay your Loan IN FULL and you will have to pay ADDITIONAL LEGAL COSTS to the Credit Union as well.

REMEMBER any action taken against a Bad Debtor in Court will seriously affect your ability to obtain Credit in the future

It is much safer to deal with St.Gregory’s Credit Union Ltd, rather than have to face the wrath of the Loan Sharks !!
......... if you ever defaulted with them !!!! So Beware !!!