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  • PCU's Various APRs Explained
PCU's Various APRs Explained

17 April 2025

PCU's Various APRs Explained

Portadown Credit Union recently introduced a new APR for Secured Loans. To date, there are now 3 various APRs for loans to choose from depending on the amount you wish to borrow and the money you have in your savings.

  1. 6% Secured Loan- This is currently our most competitive rate. A SECURED loan IS based on your savings held in your PCU account. You can avail of this cheaper APR by borrowing up to 90% of your savings. This money is held as collateral against your savings until your loan is paid off e.g. you will not be able to withdraw the amount of money you have out as a loan. Any money over this loan amount or saved after the loan was issued is accessible. Our current maximum saving cap is £15,000 per member, in this instance, the member would be able to borrow £13,500 at 6% APR. Secured loans do not require bank statements or a loan appointment. A maximum of £500 cash can be issued over the counter and the remaining via cheque or bank transfer.
  2. 8% APR for loans £10,000 Plus- This loan option is a fantastic alternative to members who don't have £10,000 in their savings therefore can't avail of a secured loan position. This is considered an UNSECURED loan and IS NOT based on your savings. The minimum loan value for this rate is £10,000 to the maximum loan value of £60,000. This loan can be applied for online or by scheduling a loan appointment in office. Applicants will need to provide 3 months bank statements across all accounts held. At times, a guarantor may be needed. This 8% APR loan can be topped up with a minimum top up value of £10,000.
  3. Standard 12.68% APR- This will be all UNSECURED loans under £10,000. This loan type can be applied for online or by scheduling a loan appointment in office. Applicants will need to provide 3 months bank statements across all accounts held. At times, a guarantor may be needed.

If you have any further questions, you can phone us on (028) 3833 5104.

Portadown Credit Union- Your local lender of choice

*Loans are subject to approval. T&C's Apply. All figures given are for your general information only, and give a rough guide to loan repayments. Any statements on this post do not purport to be authorative or legally binding. You are advised to check with our offices for up-to-date rates and offers. If you do not meet the repayments on your loan, your account will go into arrears. This may affect your credit rating, which may limit your ability to access credit in the future.
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PCU's Various APRs Explained

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Portadown Credit Union

Address:
26 Market Street, Portadown, Craigavon, UK, BT62 3LD
Tel:
028 3833 5104
Email:
info@portadowncu.com
Web:
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Portadown Credit Union Ltd is authorised by the Prudential Regulation Authority and regulated
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