Fusion Credit Union Reviews, Loan Calculator and Complaints

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Acceptance Criteria

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 don't need to have a good credit history

You need to be 18 years of age or older to apply
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 need: evidence of your income, your outgoings and details of any other financial commitments

You must be living or working in the Lichfield District area to become a member

Loan Details

Representative APR

12.68%

Loan Amount

£50 - £2,000

Repayment Period

Minimum Term 1 month

Loans up to £2,000 - 2 years

Arrangement Fee

No Fee

Payment Holidays

None Available

Income Protection Available

No

Areas Covered

Walsall

Average Customer Review

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Loanfinder Ranking

125th for APR of 423 loans in the UK (See Lender League Table By APR)

About Fusion Credit Union

You must be living or working in the Lichfield District 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 and you can apply for a loan after 4 weeks of saving.

First you will need to become a member of the union. To apply for a loan, you need to make an application in person by visiting a Collection Point or over the phone. Loan officers will review your application and they will contact you to discuss.

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 will 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.

Burntwood Friday: 10:00am-12:00pm

Lichfield Wednesday: 10:00am-12:00pm
Saturday: 10:00am-12:00pm

Citizens Advice Bureau Lichfield Friday: 1:30pm-3:30pm

Beacon Park Retirement Village Tuesday: 2:00-4:00pm
Please note: Only residents of Beacon Park Retirement Village and their families, Friends of the Village, and residents of nearby St Andrew’s House, Sandford Gate and the Pegasus development can visit this collection point.