Capital Credit Union Ltd Reviews, Loan Calculator and Complaints

(1 customer review)

Average Customer Rating

Is this you?

Acceptance Criteria

You need: one month's proof of income and a recent bank statement (two months worth if you are applying for £2,500+)
You don't need to have good credit
You must be 18 years of age

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 live or work in Edinburgh, The Lothians or The Borders to become a member

Loan Details

APR

6.9% - 26.8%

Representative APR

12.7%

Loan Amount

£100 - £15,000

Repayment Period

Minimum Term 12 months

Loans £1,000-£2,000 - 3 years

Loans £2,001-£15,000 - 5 years

Repayment Method

Money is debited from your regular savings deposit

Payroll deduction

Speed To Payout

3-5 working days

Arrangement Fee

No Fee

Payment Holidays

None Available

Payout Method

Transferred into your bank account

Income Protection Available

No

Areas Covered

Edinburgh
Galashiels

Average Customer Review

(1 customer review)

Loanfinder Ranking

80th for APR of 423 loans in the UK (See Lender League Table By APR)
3rd for Customer Satisfaction (See Customer Reviews)

About Capital Credit Union Ltd

You must live or work in Edinburgh, The Lothians or The Borders to become a member.

Credit Unions offer a few different unsecured loans for any purpose. Their loans are considerably cheap and are based on your proven ability to repay, this is why they do a thorough check of your income and expenditures. You don't need to be a member to apply.

Capital offer 3 different types of loans: Member Loan, Flexi Loan and Loyalty Advance Loan.

First you will need to become a member of the union. In order to apply for a loan, you can download a form off their website (see example below). Complete this and send it to their office along with one month's proof of income and a recent bank statement (two months worth if you are applying for £,2500+). They will confirm your application and it will be passed to a loans officer for assessment. They will then call you and tell you their decision.

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.

Hamilton Place
Monday to Friday - 10:00am to 4:00pm

Bathgate
Monday to Friday - 10:00am to 1:00pm then 1:30 to 4:00pm