North East Warrington Credit Union
Good:
Low interest rates, low monthly repayments, no credit checks, no hidden fees or extra charges
Bad:
Can only apply for a loan after saving regularly with them for 3 months
Verdict:
Small financial business serving the local community for saving and borrowing - must be living or working in the North East Warrington area
You must be living or working in the North East Warrington area 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 regularly with them for 3 months.
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 download from their website (see example below), pop into their 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.
Tuesday, Wednesday & Thursday: 10:am – 12:00pm 1:00pm – 3:00pm
Friday: 5:00pm – 7:00pm
Loan Calculator (Representative 12.5%APR)
Loan Amount £
Loan Term months
Monthly Repayment
Total Repayment
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Be the first to review North East Warrington Credit Union.
Loans up to £10,000 - 5 years
- You need: proof of ID, proof of address and proof of income and expenditure
- 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 be living or working in the North East Warrington area to become a member
