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Tel: 01604 250016 Email:

20 July 2017


How our loans work?

Members can apply for a loan at any time. Loans can be given for a number of things, such as holidays and Christmas, home improvements and car purchases as well as to pay off existing borrowing from Credit Cards or 'Buy Now Pay Later' schemes.

You must be aged 18 years or above to apply for a loan and decisions are taken on the basis of affordability. This enables us to help many people who cannot access mainstream credit due to an impaired credit rating. Interest rates vary depending on the size of loan you request. Our rates start at 1% a month (12.7% APR) and are capped by law at 3% a month (42.6% APR). This compares very favourably to high street lenders, particularly for smaller amounts.

Take a look at our loan calculator to get an idea of how much a loan from NCU would cost you.

The repayment period on our loans can be up to five years. You can repay any loan you take through standing order, benefit deduction, payroll deduction, at one of your local Service Points or even at your local shop or Post Office with our new Paypoint card facility.

Unlike banks one of the features of the Credit Union is that we will lend relatively small amounts (less than £1,000) over short periods of time (sometimes as little as six months). Banks often prefer to offer this type of borrowing through the use of overdrafts or credit cards, which can work out more expensive. We also will only lend you money if we are convinced you can afford the repayments.

Weíre always happy to provide a loan illustration for you to compare.



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Northamptonshire Credit Union Tel: 01604 250016 Email: Web:
Northamptonshire Credit Union is authorised by the Prudential Regulation Authority & regulated by the Financial Conduct Authority & the Prudential Regulation Authority (FRN 213810)