Cheshire Neighbours Credit Union Reviews, Loan Calculator and Complaints

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Acceptance Criteria

You need: two forms of ID
You don't need to have a good credit history
You need to 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 Cheshire to become a member

Loan Details

APR

3.9% - 26.7%

Representative APR

26.8%

Loan Amount

£50 - £3,000

Repayment Period

Minimum Term 1 month

Loans up to £7,500 - 2 years

Speed To Payout

7 working days

Arrangement Fee

No Fee

Payout Method

Cheque

Transferred directly into your bank account

Income Protection Available

No

Areas Covered

Shrewsbury
Stockport
Crewe
Stoke-on-Trent
Chester
Liverpool
Warrington

Average Customer Review

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Loanfinder Ranking

220th for APR of 423 loans in the UK (See Lender League Table By APR)

About Cheshire Neighbours Credit Union

You must live or work in Cheshire 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 need to be a member but you can apply for a loan up to £500 as soon as you start saving. Usually the first loan will have an APR of 26.7% with the second loan being 12.7%.

First you will need to become a member of the union. In order to apply for a loan, you need to complete an application form at a branch or collection point and hand it to an employee. Be sure to include two forms of ID with your application and income and expenditure details. A Loans Officer will review your application and they will let you know their decision as soon as possible.

The process may in some cases take up to two weeks so this is not a good option for you if you need your money quickly. You cannot manage your loan online so if you need to make changes, you need to contact them in writing or pop 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.

Monday-Friday: 9:00 - 5:00pm