East Sussex Credit Union Reviews, Loan Calculator and Complaints

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Acceptance Criteria

You need: a bank statement within last 2 months, a utility bill from the last 2 months, proof of all income (wage slips, benefit letters, tax credits), you may be asked to provide proof of your credit payments
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 be living in the Brighton or Hove to become a member

Loan Details

APR

12.7% - 26.6%

Representative APR

12.7%

Loan Amount

£50 - £3,000

Repayment Period

Minimum Term 1 month

Loans up to £3,000 - 3 years

Repayment Method

Cash

Cheque

Standing Order

Transferred directly from your bank account

Arrangement Fee

No Fee

Payment Holidays

None Available

Payout Method

Transferred into your bank account

Cheque

Cash at the Post Office

Income Protection Available

No

Areas Covered

Royal Tunbridge Wells
Brighton

Average Customer Review

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Loanfinder Ranking

84th for APR of 423 loans in the UK (See Lender League Table By APR)

About East Sussex Credit Union

You must be living in the Brighton or Hove 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 and have saved for a minimum of 2 months, or 7 weekly payments before applying for a loan.

First you will need to become a member of the union. To apply for a loan, you need to complete an application form (see example below) and return it to the office with proof of your address and income. Loan officers will review your application and they will let you know their decision within a few days and then you will be asked to sign the loan agreement.

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 can manage your loan online so if you need to make changes, you don't need to contact them 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.

Opening Hours
Monday-Friday: 10:00am - 3:00pm

Telephone Hours
Monday-Friday: 10:00am - 4:00pm