Brecon & District Credit Union Reviews, Loan Calculator and Complaints

Be the first to write a review

Is this you?

Acceptance Criteria

You need to provide evidence of your income and expenditure including: Your last 3 bank statements, Proof of Income/Benefits or any other information requested by the Credit Committee
You don't need to have a good credit history
You need to be 18 years of age or older

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 an existing member for 12 weeks or more, and have saved regularly with them
You must live or work in the Brecon area to become a member

Loan Details

APR

12.7% - 26.8%

Representative APR

12.7%

Loan Amount

£40 - £3,000

Repayment Period

Minimum Term 1 month

Loans up to £3,000 - 3 years

Repayment Method

Standing Order

Payroll Deduction

Speed To Payout

3-7 days

Arrangement Fee

No Fee

Payment Holidays

None Available

Payout Method

Cheque

Cash

Income Protection Available

No

Areas Covered

Newport
Hereford
Swansea
Llandrindod Wells

Average Customer Review

Be the first to write a review

Loanfinder Ranking

78th for APR of 423 loans in the UK (See Lender League Table By APR)

About Brecon & District Credit Union

You must live or work in the Brecon 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 to apply and you can only apply for a loan after you have been saving for 3 months. You can borrow anything up to 3 times your savings.

First you will need to become a member of the union. You can apply by completing the "Application for a loan form" (see below). Your application will be reviewed by the Credit Committee meeting which happens once weekly. They will then let you know their decision and you will be asked to complete a loan agreement committing you to regular repayments. Your loan will be paid out in 7 days.

The process may in some cases take up to one week so this is not a good option for you if you need your money quickly. You cannot manage your loan online so every time you need to make a change, you need to contact them in writing. 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.

Monday, Friday & Saturday: 10:00am - 12:00pm
Tuesday: 10:00am-1:30pm