Ellesmere Port and Neston Credit Union

Good:
They can help you rebuild your credit history if you have struggled in the past

Bad:
You can only apply for a loan after you have been saving with them for 12 weeks

Verdict:
Look for a loan elsewhere if you need money quickly - must be living, working, volunteering or studying in the Borough of Ellesmere Port & Neston

You must be living, working, volunteering or studying in the Borough of Ellesmere Port & Neston 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 saving with the union for 12 weeks.

First you will need to become a member of the union. To apply for a loan, you need to complete an application form (see example below) from the collection point or office, or you can download it from their website. Loan officers will review your application and they will let you know their decision within a few days and then you will be asked to sign the loan agreement.

If you are applying for amounts under £500 and they do not require you to provide any other information a decision should be available within 5 working days. For loans over £500 it can take 10 to 15 working days for them to decide. 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.

Ellesmere Port Office
Monday, Wednesday and Thursday: 10:00am - 1:00pm
Tuesday: 10:00am - 2:00pm
Friday: CLOSED

Neston Library Office
Friday: 10:30am - 11:30am