Non-member Loans

Looking to borrow £150-£7,500?

Download and send us your application form here today! We offer competitive interest rates from 12.7-42.6% APR dependant on circumstances.

We are currently experiencing a high volume of loan applications, once we have received your loan application we will be in touch with you as soon as we can. 

 

What if I have a poor credit rating?

Let us know about any defaults, CCJ’s, IVA or Bankruptcy proceedings on your application form- don’t be put off from applying. We treat each application individually and we are interested in how you manage your money now. If we can’t give you a loan due to affordability or undeclared debt, we may be able to help you with our Jam Jar Budgeting Service.

 

How long does it take?

We aim to assess fast-track loans within one business day; and non-member loans within seven business days. You may hear from us sooner- we will get back to you as soon as we can!

Download an application form here

 

What happens if my loan is approved?

We will make a formal loan offer to you in writing; please sign and return the Credit Agreement immediately.

Once we have received your signed credit agreement; we will send the funds to your account as specified.

We usually pay out by BACS transfer which takes 2 working days to clear. If you need the funds urgently, we can process an Immediate Payment to you at a cost of £1.50; which will clear within two hours of receiving your signed loan agreement.

If you would like a new Engage Visa Debit Card with us, we can order a card once we’ve made your formal loan offer. If you’re new to Engage, it takes 7-10 days for your card to arrive by post to your home address. We can then withdraw your loan onto the Engage Visa Debit card for spending.

Under some circumstances, we can only issue the loan after we have received the first benefit payment into your CNCU account.

-If you are making repayments by benefits, you will need to telephone HMRC on 0300 200 3100 or visit https://www.gov.uk/government/publications/child-benefit-change-of-family-circumstances to update your details to receive this benefit through CNCU.

Sort Code: 08-92-50 Account number: 67000412 Reference: your National Insurance Number.

Once we receive your Benefit, we will automatically make repayments on your loan balance, and deposit the remainder of your Benefit into your CNCU savings account (unless you specify otherwise).

-If you are making repayments on your loan from your bank or building society; you will need to set up a standing order with your bank using the following payee details

Sort Code: 08-92-50 Account number: 67000412 Reference: your National Insurance Number.

 

How do I join?

If you are not already a member of CNCU or you are re-opening a closed account you will need to pay £10 into Cheshire neighbours Credit Union before we can consider your loan.

£5 is taken as your one-off non-refundable membership fee, and £5 deposited into your CNCU savings; which must be retained until you close your account. We are a financial social enterprise, run by our members, for our members; this means that you can attend our Annual General Meetings and have voting rights to decide what we do and how we can support our community.

You can make a payment by:

Bank transfer to: Cheshire Neighbours Credit Union

Sort Code: 08-92-50 Account number: 67000412, reference: Your Name Loan

Or Pay Cash at Delamere House, Crewe, CW1 2JZ from Monday to Friday 10am-12noon.

 

£500 typical example

If you regularly save with us (Child Benefit paid in, regular Standing Order into your savings) and are in employment or receive enhanced benefits we can offer 26.8% APR.

If you don’t already regularly save with us, a £500 loan over 12 months at 42.6% APR would cost £50.24 per month to repay; with a total cost of credit £102.68. A well known door-step lender typically charges £436 in interest for the same £500 loan.

We have no early repayment fees, interest is calculated daily so you pay less interest if you can afford to pay it back sooner.

Loan calculator

Follow this link to calculate your sample repayments. It’s easy to use, choose the amount you want to borrow, how long you wish to pay it back over, and our annual interest rate.

As an example, we typically issue loans at:

  • 42.58% for non-members or higher-risk loans under £1,000.
  • 26.8% for members who regularly save with us £150-£7500.
  • 12.7% for members with a good repayment history with us (or locking down 100% of the loan value) and looking to borrow over £3,000.

If you have any questions, call us on: 01270 685625 between 09:00-15:00 weekdays and we’ll be happy to help.

Join us Today!

If you are not already a member of CNCU or you are re-opening a closed account you will need to pay a £10 into Cheshire Neighbours Credit Union before we can consider your loan. This will cover your one-off £5 membership fee and £5 of savings which must be retained until you close your account.

We are a financial social enterprise, run by our members, for our members; this means that you can attend our Annual General Meetings and have voting rights to decide what we do and how we can support our community. With every loan, a savings account is opened with the intention that when making loan repayments; you will make a small deposit in your saving account to build up your own safety net.

You can make a payment by:

  • Bank/online transfer to: Cheshire Neighbours Credit Union

Sort Code: 08-92-50 Account number: 67000412 Reference: Your Name Loan

Pease put your full name and ‘Loan’ as a reference on the payment (for example John Smith Loan)

  • Cash at Delamere House, Crewe, CW1 2JZ from Monday to Friday 10am-12noon.
  • Or send a cheque made payable to ’Cheshire Neighbours Credit Union’ – please put your name and address on the reverse of the cheque. Cheques can take up to 10 days to clear.

Please DO NOT send cash in the post.

Get in touchring 01270 685625, email info@CNCU.org.uk or pop in to see us at Delamere House, Delamere Street, Crewe, CW1 2JZ for our face-to-face Counter Service, open Mon-Fri 10am-12pm.

Lockdown Savings

To promote a healthy financial future, we ask all our loan members to save while they borrow. We will ask you to save a minimum 10% of your loan value over the period of your loan, which you can withdraw once your loan has been repaid, or keep in your CNCU Savings Account for next time you need a safety net.