You have to be a member to be eligible to apply for a loan with us.
What you need when applying for a loan
You can apply for a loan by completing a loan application in the office or by applying online.
YOU CAN APPLY FOR A LOAN VIA THE MEMBER'S AREA SECTION OF THIS SITE HOWEVER IF YOU ARE USING A MOBILE DEVICE THIS OPTION WILL NOT BE AVAILABLE TO YOU. YOU WILL NEED TO COMPLETE YOUR APPLICATION ON A LAPTOP OR A PC.
We will need to confirm your income (wages and/or benefits) so the last 6 weeks bank statements or your most recent Post Office statement will be acceptable. If you are not already a member you will also need to supply proof of ID and address. See the ID checklist for full details of what to bring.
For a complete guide about the way we use your details click here or if you have any queries give our staff a ring on 01685 377888.
What happens after you have applied for a loan
Loan applications are generally turned around in 24 hours although in times of high demand this may take longer. You will receive a text message once we have your loan decision.
In deciding whether or not to grant the loan the loans officer/committee will take into account your ability to repay the loan. This is subject to a thorough assessment that includes your past experience of credit and other factors.
All borrowers also have to save a minimum sum of £1, £2, or £3 (£5, £10, or £15 per month) in an attached share account, as a condition of the loan. This savings account is "locked" until the loan is paid off, and helps us to lend to other members. It's also a nice bonus for you when you have finished paying your loan.
Don't forget that you are borrowing your fellow members' money - never apply to borrow if you're not completely committed to repaying their trust in you.
How do I make Repayments?
As you'd expect all loans are subject to status and approval.