Wolf Savings & Loans

Good:
You can apply for a 'Liberty Loan' as soon as you become a member (you need to continue savings whilst you have a loan)

Bad:
Can take up to two weeks to get your loan as you have to thoroughly prove that you can afford the loan and make the repayments

Verdict:
This is an affordable and flexible loan that can help you rebuild your credit if you need to - must live or work in Wolverhampton

You must live or work in Wolverhampton 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 Liberty Loan as soon as you become a member.

You need to become a member of the union first. To apply for a loan, you can call into their office, pick up an application form from a collection point, over the phone or you can download it from their website. Complete the application form and return it to them. All loans are initially assessed by a Loan Officer and the Credit Committee and they will then contact you to organise an interview.

The application will be looked at by a Loan Officer or Credit Committee and you will be advised within 7 working days of providing the information. 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.

Main Office
Monday-Friday: 10:00am - 4:00pm