Latest News

21 Feb 2022

Annual General Meeting (AGM) 2022

The Taxi Trade Credit Union AGM will take place on Monday 7th of March at 1800 hours.

24 Mar 2022

Our new Website is Live!

We are delighted to announce the launch of our new website. We hope you like the new look and feel.

Loans

The Credit Union will consider loan applications from members for any worthwhile purpose. Each application is treated in the utmost confidence and will be considered on its own merits. It is credit union policy to meet the borrowing requirements of as many members as possible, depending on the available funds.

Applications for loans are made on a standard loan application form. Loans can be applied for by calling to our office, by telephone or via the members section of the web site. Our staff will give you any assistance required. Loans will then be considered by a Loan Officer, or will go to the weekly Credit Committee meeting.

Try out our quick and easy loan calculator below

Repayment
12.68% APR

Months

Weekly

Interest

Total

Fortnightly

Interest

Total

Monthly

Interest

Total

This calculator is for illustrative purposes only, to give you, the borrower, an overview of the potential cost of borrowing. The Credit Union, or any of its staff, cannot be held responsible for any errors. Please note that this calculator only provides an indicative quote and actual repayments may vary.

What you need when applying for a loan

In deciding whether or not to grant the loan the loan officer or credit committee will take into account the member’s record of savings and loan repayments, as well as ability to repay. Once the loan is granted the member will be asked to complete a promissory note, which is a legally binding document being a promise to repay the loan, and to commit to regular repayments.

Remember - only members are eligible to receive loans from your credit union.

Interest on credit union loans

By law credit unions cannot charge any more than 1% per month on the reducing balance of a loan. This represents an interest rate of 12.68% APR (Annual Percentage Rate). Credit unions do not charge fees or transaction charges. Since the interest is charged only on the outstanding balance of the loan, you will pay even less if you repay in a shorter time than planned.

Ways to pay loan and shares
  • Allpay Card
  • Standing Order
  • Internet Banking
  • Switch Card (over the phone or in office)
  • Taxi Credits if owner
  • Cash in office