North Yorkshire Credit Union Reviews, Loan Calculator and Complaints

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Acceptance Criteria

You need: evidence of your income and your most recent bank/building society/Post Office statement
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 within the City of York or the County of North Yorkshire to become a member

Loan Details

APR

6.2% - 26.8%

Representative APR

12.68%

Loan Amount

£100 - £7,500

Repayment Period

Minimum Term 6 months

Loans up to £250 - 1 year

Loans £250-£7,500 - 5 years

Repayment Method

Cash at an NYCU savings point

Payroll Deduction

PayPoint

Standing Order

Cheque/Postal Order

Arrangement Fee

No Fee

Payment Holidays

None Available

Payout Method

Cheque

Income Protection Available

No

Areas Covered

Darlington
Harrogate
Leeds
Bradford
Teesside
Lancaster
York

Average Customer Review

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Loanfinder Ranking

134th for APR of 423 loans in the UK (See Lender League Table By APR)

About North Yorkshire Credit Union

You must live or work within the City of York or the County of North Yorkshire 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 an loan immediately after becoming a member, as long as you have saved £1.

They offer 3 different types of loans:
1) Member Loan - 19.6% - available to all NYCU members and you can borrow up to £7,500 above the level of your savings over 5 years.

2) Secure Loan - 6.2% - secured against your own or a guarantor's savings. You can have this loan over 5 years.

3) Match Loan - 12.7% - available to all NYCU members and you can borrow up to £7,500 or three times the current level of your savings over 5 years.

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 get from their office, from a collection point or you can download it off their website. You can then send it off to the office or collection point. All loans are initially assessed by the Loan Officer and they will invite you for a meeting to discuss the loan.

Unless they need to see any further documents they aim to give you a decision on your loan within 48 hours. You can manage your loan online so if you need to make changes, you don't 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.

Main Office
Monday, Wednesday, Thursday & Friday: 9:00am - 4:30pm
Tuesday: 11:00am - 4:30pm

For details on other collection points and opening times, please visit the following link [/b]http://www.nycu.org.uk/content.asp?section=119[/b]