Applying for a Personal Loan
We are always pleased to consider applications for personal loans from our members, but when doing so we are always very conscious that we are lending other members’ money. For this reason we have a number of procedures in place, which are explained briefly below.
You will need to complete an Application Form and Agreement Form (see below) and send them to us with bank statements covering three months prior to the date of your application for any bank accounts you hold, and at least two pay or salary slips.
LOAN APPLICATION FORM and LOAN AGREEMENT FORM
You may also send us a recent Experian credit search – it is our policy to carry out our own credit search if this is not provided.
We may ask you to call at our office for an interview about your application, particularly if you are borrowing from us for the first time. Loan applications are considered by our Credit Committee, and you will receive an answer within seven days of us receiving your application (probably much quicker).
We have a statutory duty to make loans only where we can be satisfied the borrower can afford the repayments. Please Remember: to access a loan from us you must be a member of the North London Credit Union. To join, click here