Unify Credit Union


Your Credit Union Will Save You Money!

Thursday 16th May, 2019

Unify Credit Union are determined that we can convert those who get items from a Rent-To-Own company to instead try an affordable loan at Unify!

We have had a look to see how much buying a fridge would cost in total from a local Rent to Own company on our high-street.

We found a larder style fridge for sale, the item cost was £494.50, the company then added on a mandatory £55.00 delivery and installation fee. The repayments were £7 a week, which to many, would seem like an affordable amount. However the term of paying is back is over 156 weeks, that’s 3 years! Meaning that the total you will pay this company is £1092! That is A LOT of money to pay for a fridge!

Image of Household Applicances

We then had a look at how much this item would cost at a different retailer, what we found was quite surprising. At a large retailer known for selling household appliances and computers, the same fridge has a price tag of £320, a lot less that the base cost of the same Rent-To-Buy item.

We continued looking at this retail park store and found that for just under £500 you could buy the following:
Beko Fridge (£320.00), Bagless Vacum Cleaner (£39.99), Breville Kettle (39.99), Breville Toaster (£39.99) and a Beko Microwave (£59.99). Total cost £499.96.

If someone came to ourselves for a £500.00 loan, our repayments are done over a reasonable time scale of 50 weeks, at a repayment of £11.87 each week. The total you would pay back is £593.18.

At Unify Credit Union we always check to see if a loan would be affordable for you! We don't do "Representative APR's" which can often mislead people. The price you see with us is the price you get! There are no early repayment charges and if you want to pay your loan off sooner, then that is fine too! Come to your local credit union and discover a more affordable way to furnish your home!

Find out more about Unify Credit Union at www.unifycu.org 

Not a member? Not a Problem! 
To apply for a Starter Loan email your name, date of birth, address, telephone number, reason for loan and amount required and we will get back to you as soon as possible: please do not complete the online membership application until you have spoken to us over the phone or email about your loan request.  Please send you email to info@unifycu.org .








Please note the facts and figures above were collated and correct on Thursday 21/03/2019

Unify Credit Union Loan details:
Loan £500
50 weekly repayments of £11.87
APR 42.60%
Total Payable £593.18

Rent to Buy Fridge details: 
Item Price £494.50, Delivery & Installation £55.00
Total Cost £549.50
Weekly Repayments £7.00 (156 weeks)
Annual Fixed Interest 69.90% (Rate/Representative APR)
Total Payable £1092

Proof of these figures can be provided.

Share This Story

Next Post: Unify Credit Union announce their AGM for 2019

news archive


If you want to save for a rainy day or a holiday, a Unify account is quick and easy.


If you need a loan with Unify Credit Union, click here to find out more.

Payroll Deduction

Find out more about how to easily pay into your account with us