Calderdale Credit Union
Good:
Low APR, no fees, no credit checks, small local service that wants to help you
Bad:
You must have been a member for 13 weeks before you can apply
Verdict:
Only have one office with limited opening hours but offer a good service - must live or work in Calderdale to apply
You must live or work in Calderdale to become a member.
Credit Unions offer a few different unsecured loans for any purpose. Their loans are fairly cheap and are based on your proven ability to repay, this is why they do a thorough check of your income and expenditures. You need to be a member and you can apply for a loan after you have been saving regularly with them for 13 weeks.
First you will need to become a member of the union. To apply for a loan, you need to complete an application, which you can pick up from their main office or one of their collection points. Loan officers will review your application and if granted, you may need to attend an interview.
The process may in some cases take up to two weeks so this is not a good option for you if you need your money quickly. You cannot manage your loan online so if you need to make changes, you will need to contact them in writing or pop into a branch. With credit unions, the money you are borrowing is the money of other members, so if you fail to make payments, they take this very seriously. Their opening hours are very limited, which makes it difficult for you to go in to organise all your documents and sign your agreement. On the other hand, they want to help you rebuild your finances if you haven't got a good history. Their rates are extremely low and their repayments are really small each month.
Monday-Friday: 9:30am – 4:45pm
You can get more information on additional collection point by calling their Head Office on 012422 393106
Loan Calculator (Representative 12.68%APR)
Loan Amount £
Loan Term months
Monthly Repayment
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The best i have ever seen, at a time when you're in need of extra cash and cant get it from any where else this is the place to go to as long as you have a saving with them, and also it may not be a large amount but at least that little bit does help a lot at a time when you really need it. Staff are very keen to help if you are willing to understand and help you're self, as they say (Rudeness is not tolerated any where unless you have been bought up in rudeness then you pay for the Consequences), so to everyone please get help from them but don't abuse it.
Loans up to £5,000 - 5 years
Transferred directly into your account
- You need: recent bank statements and 2 forms of photo ID
- You don't need to have a good credit history
- You need to be 18 years of age
- It doesn't matter if you are employed, unemployed, on benefits, a carer, a homemaker or on Job Seeker's Allowance, anyone can apply
- You don't need to have been a UK resident for any specified length of time
- You don't need to have a bank account
- You must live or work in Calderdale to become a member
