Enterprise Credit Union

Good:
Members area on their website which allows you to manage your finances online

Bad:
It can take longer to get your loan as they fully assess your financial situation

Verdict:
If you are looking to rebuild your credit, this is a great option - must live and/or work in the Knowsley Borough of Merseyside

You must live and/or work in the Knowsley Borough of Merseyside 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 but you can apply for a loan without having saved with them, but the interest for this loan will be at a higher rate.

First you will need to become a member of the union. To apply for a loan, you can download the application form from their website, complete it and take it to a local office or collection point. Your application will be reviewed either by a Loan Officer or the Credit Committee. Once they have assessed your application and your spending details, they will contact you to inform you of their decision. If accepted, you need to pop into their office to sign the loan agreement.

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 can manage your loan online so if you need to make changes or carry out a transaction, you can do it from your home. 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.

Main Office
Monday-Friday: 9:30am-1:00pm and 1:30pm-3:30pm
Saturday: Closed

Pilch Lane Branch
Monday-Friday: 9:00am-1:00pm then 1:30pm-3:30pm
Saturday: 9:30am-12:00pm

Page Moss Branch
Monday-Friday: 9:00am-1:00pm then 1:30pm-3:30pm

Prescot Branch
Monday-Friday: 9:00am-1:00pm then 1:30pm-3:30pm
Saturday: 9:30am-12:00 Noon