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The High Debt Cost of Fast Credit

  • mounting debt

Fast Credit seems so easy at the time, doesn’t it? Just pick up the phone or with a few clicks of the mouse and the moneys in your bank in 15 minutes, but what about the debt price that you end up paying for that convenience?

National Debt advice service Stepchange are reporting rising levels of personal debt, with the average age of those in debt decreasing, and the regular use of payday lenders to cover household bills increasing. They are also calling for the increase of ‘affordable credit’.

Well…… Credit Unions are all about affordable credit!!

The maximum a Northern Ireland Credit Union can charge you in interest is just 1% per month on a reducing balance, so lets look at a comparison between us and typical payday and doorstep higher interest lenders.

Amount Borrowed Weekly/Monthly repayment Duration Interest payable Total Payable
Typical Payday Lender £500 £165.53 per mth 6 Months



Typical Doorstep Lender £500 £30 per week 26 weeks



Slemish n tha Braid Credit Union £500 £20 per week 26 weeks




It’s a no brainer, isn’t it?

At Slemish n tha Braid, we love getting to know our members and we hope they enjoy getting to know us as well. We recommend  getting into a good savings habit before applying for a loan, and offer convenience in the form of Standing orders and Direct Debits, you can even make payments if you do your own home internet banking.

So what are the advantages of a credit union loan?

  • No set up fees
  • Easy to understand with no jargon involved
  • A quick decision-  from application to payment can take as little as 48hrs
  • Payment can be straight into a bank account
  • Tailored to our members affordability
  • Members build up their savings while borrowing
  • No early repayment fees
  • Free loan insurance
  • No appointment needed, just call in and speak to one of our staff who can helploan approved

 We’ve also cut our interest rates on loans above £3000!!

Contact Details

The purpose of a Credit Union is simple, allowing members to save money and access low interest rate loans, and with their ‘not for profit, for people’ ethos, members are rewarded with an annual dividend.

Call Tracy and the Team today  on 028 2564 8641


Visit Us at The Raglan, 20-24 Queen Street,  Ballymena, Co. Antrim,  BT42 2BD (See Opening Time HERE)

Credit Union Ballymena Raglan Branch

Come visit us at the Raglan Branch


Download a Member Application Form and Email or Bring it into the Branch and we will review it with you.

For information on loans, and to download a form, click here.

See you soon,

Slemish n tha Braid Team 😉


Speak to one of expert advisors about savings or loans

The Raglan, 20-24 Queen Street,
Ballymena, Co. Antrim BT42 2BD
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© 2018 Slemish n tha Braid Credit Union Ltd