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Islington & City Credit Union

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Islington & City Credit Union has an average rating of 5 out of 5 based on 2 user reviews

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Address
The Jeremy Hopgood Rooms, Caxton House, 129 St John's Way, N19 3RQ

Telephone
0207 561 1786

Fax
0207 272 8192

Email
info@credit-union.coop

Acceptance Criteria

You need:

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 need: 2 most recent bank statements (if applicable), proof of income (wage slips/benefits/pension payments book), a completed budget sheet, proof of other loan balances/repayments, your most recent credit card statements (if applicable)

You must be living or working in Islington or the City of London to become a member.

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Loan Details

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Loan Details

Representative APR	12.7%
Loan Amount	£50 - £5,000
Repayment Period	Minimum Term 1 month Loans up to £5,000 - 5 years

Repayment Method	Standing Order Payroll Deduction Cash
Arrangement Fee	No Fee
Payment Holidays	None Available
Payout Method	Transferred into your bank account Cheque payable to a third party Cheque you can cash at a Post Office

Representative APR	12.7%
Loan Amount	£50 - £5,000
Repayment Period	Minimum Term 1 month Loans up to £5,000 - 5 years
Repayment Method	Standing Order Payroll Deduction Cash
Arrangement Fee	No Fee
Payment Holidays	None Available
Payout Method	Transferred into your bank account Cheque payable to a third party Cheque you can cash at a Post Office

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About Islington & City Credit Union

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About Islington & City Credit Union

You must be living or working in Islington or the City of London 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 as soon as you have joined.

First you will need to become a member of the union. To apply for a loan, you need to complete the Loan Application Form (see example below), which you can pick up from an office/collection point or by downloading and completing the application form on their website. All loans are reviewed by the Loan Officer then by the Credit Committee meeting. They will inform you of their decision as soon as possible and you will be asked to sign a 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 cannot manage your loan online so if you need to make changes, you will need to contact them or go 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, Tuesday, Wednesday & Friday: 9:30am - 5:00pm