Nuneaton Credit Union

Good:
Low interest rates, low monthly repayment fees, no credit checks, no hidden charges or extra fees

Bad:
Must save regularly with them to prove you can make repayments before you can apply for a loan

Verdict:
Very good affordable and cheap option for finance if you have bad credit - must live or work in Nuneaton

You must live or work in Nuneaton 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.

First you will need to become a member of the union. To apply for a loan, you need to complete the Loan Application Form (see example below), which you can get from their office or from a collection point. You can then send it off to the office or collection point. All loans are initially assessed by the Loan Officer and they will contact you to inform you of their decision. You will then have to sign a 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, you don't need to contact them or go 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.

Camp Hill Family Community Care Centre
Monday: 2:00pm-4:00pm
Tuesday & Friday: 10:00am-12:00pm

Cam Hill Community Care Grove Farm Community Centre
Wednesday: 10:00am-12:00pm and 7:00pm-8:00pm

Camp Hill Family Community Care Blackatree Court Centre
Thursday: 2:00pm-4:00pm and 10:00am-12:00pm

George Eliot Hospital Room 104
Friday: 10:00am-12:00pm

Co op Arcade
Tuesday, Wednesday, Thursday & Saturday: 10:00am - 12:00pm