Looking for Local Credit Union Loans Finder?
Are you searching for a local Credit Union loans finder? There is no doubt, a local credit union is one of the best ways to borrow small amounts of money when you need it and then repay at an agreed weekly rate.
We do not do Credit Union loans, but this link might help you to find your local credit union.
How do credit union loans work?
There are some drawbacks though with credit unions, as before you can take out an initial loan, you need to have been with the local credit union branch for a few months and have been saving with them as well.
This builds up a relationship with the local credit union and they can see how regularly you make payments into your savings account.
The current rate of interest they charge is around 1% a month and they include life insurance cover for the amount of the loan as well.
Credit unions are authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority. All deposits in credit unions are protected by the Financial Services Compensation Scheme up to £85,000.
Alternatives to a credit union loan
An alternative to a credit union loan would be a “doorstep” type loan, where the loan cash is delivered to your door and you then make agreed weekly payments to the representative who will call each week until the loan is paid off.
The doorstep lender with the most nationwide branches would be Morses Club (who also used to trade as Provident Loans).
You might also consider a payday type loan and you can click on the link on the left-hand side to be taken to the payday loans section of this website.
Have a look at everything that is on offer to you and then decide which company and which solution is best for your particular circumstances and needs.
It will all depend on the amount of the loan required, how quickly you need the loan and how long you want to spread the repayments over.