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London Capital Credit Union

London Capital Credit Union

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London Capital 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, 129 Caxton House, St John's Way, Archway, London, N19 3RQ
Telephone
020 7561 1786
Fax
0207 272 8192
Email
[email protected]
 
 

Acceptance Criteria

You need:
  • 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 a bank account
  • You don't need to have a good credit history
  • You don't need to have been a UK resident for any specified length of time
  • You must be living or working in Islington or the City of London to become a member.
  • You need to be 18 years of age
  • 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)
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Reviews
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Customer Reviews - The truth about London Capital Credit Union

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(2 customer reviews)
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The most favourable review

Avoid the banks

Joe hunter, London
1 year ago

 
 
 
 
 
  price
 
 
 
 
 
  simplicity
 
 
 
 
 
  speed to payout

Hi All,I have been saving for over a year now with this lender and we applied for a loan to get away from a credit card debt - the decision was made in a couple of days and paid in the following day. Save as much as you can with them. better than the banks

Avoid the banks

Joe hunter, London
1 year ago

 
 
 
 
 
  price
 
 
 
 
 
  simplicity
 
 
 
 
 
  speed to payout

Hi All,I have been saving for over a year now with this lender and we applied for a loan to get away from a credit card debt - the decision was made in a couple of days and paid in the following day. Save as much as you can with them. better than the banks

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the best place to save

Valerie ayodele, [email protected]
2 years ago

 
 
 
 
 
  price
 
 
 
 
 
  simplicity
 
 
 
 
 
  speed to payout

this is the best place to save , they know you and your history and are always ready to help , when i could not get a loan else were they help .i'm proud to be a member of islington credit union.

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Loan Details
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Loan Details

APR 5% - 26.8%
Representative APR 19.7%
Loan Amount £50 - £15,000
Repayment Period Minimum Term 1 month Loans up to £15,000 - 5 years
Repayment Method Standing Order, Payroll Deduction or Cash
Speed To Payout Depends on the application
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
APR 5% - 26.8%
Representative APR 19.7%
Loan Amount £50 - £15,000
Repayment Period Minimum Term 1 month Loans up to £15,000 - 5 years
Repayment Method Standing Order, Payroll Deduction or Cash
Speed To Payout Depends on the application
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 Example
Representative Example: Borrowing £1,000 over 12 months, repaying £91.68 per month, total repayable £1,100.16. Representative 19.7% APR.

About London Capital Credit Union

Originally established in 1997 to provide savings and loans for employees of Islington Council, anyone living or working or studying in Barnet or Camden or City of London or Hackney or Haringey or Islington can now become a member of the credit union.

Credit Unions offer a few different unsecured loans for any purpose. Loans from credit unions are relatively cheap and are based on your ability to make repayments, hence why they do checks on your income and your expenditure. 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. Once your loan is agreed you will need to sign a loan agreement form adhering to their terms and conditions of the loan.

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. Credit Unions 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

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