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RMT Credit Union
Our Own Savings and Loans Co-operative
PARADISE IS A BIT CLOSER WITH THE RMT CREDIT UNION
IT HAS NEVER BEEN EASIER TO JOIN
Loan term (months) 12.68% APR (1.056% per month)
Amount
12
24
36
48
60
500
44.58
23.70
16.77
13.33
11.29
1000
89.17
47.39
33.54
26.67
22.59
1500
133.75
71.09
50.31
40.00
33.88
2000
178.33
94.78
67.08
53.34
45.18
3000
267.50
142.18
100.62
80.01
67.77
4000
356.67
189.57
134.16
106.68
90.36
5000
445.84
236.96
167.70
133.34
112.95
7500
668.75
355.44
251.55
200.02
169.42
OUR OWN SAVINGS AND LOANS CO-OPERATIVE
Our RMT Credit Union exists to provide help and support to all our
members for their savings and credit needs, not to make a profit.
By saving together, and lending to each other, we take the profit
motive out of savings and loans. All the surpluses created by the
Credit Union are recycled as benefits to members through cheap
loans, and the ability to pay dividends on savings.
It strikes a balance between low interest rates on loans and
paying a dividend on savings. It enables members to have ready
access to cheap loans while building up a substantial and useful
savings account. The Credit Union can do this because it is run on
the same principles of mutual support and members’ democratic
control as our trade union, so you can be sure that it’s run in the
interests of us all.
CHEAP LOANS
Decisions on interest rates are made by our members. This year our
AGM decided to offer very cheap loans to members. This means we
can now offer loans at 12.68 per cent APR, equivalent to 1.056 per
cent per month on the declining balance. See our great rates below.
IT’S NEVER BEEN EASIER TO JOIN
All RMT members and their families and retired RMT members can
join our Credit Union. You simply complete the form opposite.
Under government legislation we have to check your identity and
address but we can now do this electronically so you do not have to
send any documents with your application.
MONTHLY OR FOUR-WEEKLY PAYMENTS
You can now also make your payments on a calendar monthly basis
(28th of each month) or on a four-weekly basis which ties in with
the pay cycles of many transport workers. The choice is yours so
just indicate on the form. We take regular payments by Direct Debit
although one-off additional payments can be made by cheque or
cash. Members must make savings payments of at least £5 per
month/four-weekly.
If you wish to join complete the application and return it to the RMT Credit
Union at Unity House:
RMT Credit Union, Unity House, FREEPOST NW3706, London NW1 3YD
For assistance: Tel: 020 7529 8835
Authorised and Regulated By The Financial Services Authority FRN: 228612