Tel: 0151 256 5582 Email: info@norrisgreencu.org.uk

27 April 2017
Loans

You don't have to dig for good value loans - come in to Norris Green Credit Union for good value

Helping Hand Loans

Helping Hand Loans are an alternative to people who do not have a save to borrow account. This loan service provides people with an alternative to having to borrow from high interest lenders.

To qualify for a Helping Hand loans there is a criteria that needs to be met. If you would like to apply for a Helping Hand Loan, contact us to arrange an interview or to top up an existing loan call into the office, ring or email us.

 

Standard Loans

To apply for a standard loan you need to be saving regularly for at least 13 weeks, you can apply to borrow up to double your savings. Your first loan can be up to a maximum of £500, your second loan up to a maximum of £750.00 and your third loan up to a maximum of £1000. Any subsequent loans are double your savings up to a maximum of £10,000.

When applying for a loan you must have at least half of the amount you wish to borrow in your savings and your savings must stay in the account until the loan is cleared and be added to by a minimum of £1 a week. These loans are offered at 1% per month on the decreasing balance.

 

How do I get my money?

On your application you will be asked to specify how you would like your money paid. There are a number of options available that include paying money directly into your bank account, uploading your money onto your credit union visa card or a cashable cheque for either the cooperative bank or the local post office.

 

Life Insurance on Loans and Savings

At Norris Green Credit Union we have taken out an insurance policy which is implemented at £3.00 administration charge per member on an annual basis. This policy is aimed at making the lives of families and next-of-kin easier in the event of the death of the Credit Union member.

 

What does this mean?

As a result of this policy if the member has a loan with the Credit Union this would be settled, so the next of kin would not be pursued for any outstanding balance.

 

Direct DWP Benefit Payments into your Account.

If you receive state benefits you can arrange to have these paid directly into your Credit Union account. When we receive your benefit payments our software automatically takes your loan payment, the rest of your money (apart from your savings) can be paid into your shares, put into your bank account via a bacs transfer or put on your pre paid visa card.

Norris Green Credit Union accepts the following benefit payments.

  • Income Support
  • Incapacity Benefit
  • Working Tax Credit
  • Child Tax Credit
  • Child Benefit
  • Disability Living Allowance
  • Pension Payments
  • Carers Allowance


 

 

 

 

Find Us here:
Facebook Twitter
Norris Green Community Credit Union Tel: 0151 256 5582 Email: info@norrisgreencu.org.uk Web: http://www.norrisgreencu.org.uk/
Norris Green Community Credit Union is authorised by the Prudential Regulation Authority & regulated by the Financial Conduct Authority & the Prudential Regulation Authority. FRN: 213404