You can apply for a loan by visiting the office or phoning us. You can also apply online.
When applying on loan you should have to hand your:
- National Insurance Number
- Bank account number and sortcode (if you have one)
- Online bank account access passwords etc. (if you wish to submit an application using Open Banking)
If you are a new member you can apply to join the Credit Union at the same time you apply to borrow. Existing members can apply at anytime, provided they’ve paid down at least six months’ of any existing loan.
Step by step instructions
1. Use the sliders to select how much you want to borrow and over what period:
2. Check that you meet the qualification criteria. If you do not meet the criteria (e.g. your income is too low) click your browser’s back button to select a new loan value and term.
3. Read the terms for borrowing. Briefly, we cannot lend money if you are subject to a Debt Management Plan, Debt Relief Order or a form of bankruptcy. We will check your credit history using Transunion but a poorer credit profile does not necessarily prevent you from applying.
4. Select if you are an existing member or want to join the Credit Union (we’ll deal with existing member applications from this point forward).
5. Fill out your personal details. Select whether you want to receive news and money tips by email.
6. If you are working enter your work postcode and select your address from the drop down menu. Provide your monthly take home pay (if you are working) or the total amount of benefits you receive each month. Provide your National Insurance Number and indicate that you do not have a life-limiting condition. This is for insurance purposes. If you do have a life-limiting condition, contact us.
7. Provide your address details by entering your postcode and selecting your address from the drop down menu. Select if you’ve lived there for three years. If you’ve lived there for less than three years you will need to provide us with a second address.
8. Tell us what the loan is for and how often you want to make the payments. For weekly or fortnightly repaid loans you will need to tell us which day of the week you want us to take the repayment. For monthly loans you need to tell us which day of the month you want the loan payment to leave your account. Let us know whether you’ll be paying the loan back from Child Benefit. If you have a bank account please enter your details here.
9. When you’re ready, click apply now.
10. If we need more information we will ask you for a bank statement. It is far quicker to provide this online using Open Banking. You will need your online current account log in details. We DO NOT SEE OR STORE your passwords. Read Frequently Asked Questions about Open Banking.
11. We use a company called TrueLayer to provide access to your last 90 days’ bank transactions. We do not see your bank statement but this does give us an overview of your income and expenditure over the last three months. You can read more about TrueLayer and the permissions you are giving us on this page. When you are satisfied you click ‘allow’. If you do not wish to proceed click ‘cancel’.
12. Choose your bank account from the list. If you select an icon with the OB sign in the top right you will be taken directly to your bank’s website. In other cases you will provide the details without changing screens.
13. Enter your bank account log in details. A split second connection is made and a summary of your bank transactions is sent to the Credit Union. We do not see the statement itself and the connection is terminated immediately. Here is a Halifax example:
14. Once completed you will see this screen and you will receive an email confirmation of your application. We will be in touch as soon as possible.