logoHillingdon Credit Union
Common Sense
with money

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Credit Union Office
CR1, Civic Centre, High Street, Uxbridge, Middx, UB8 1UW

t: 01895 250958
e: info@hillingdoncu.co.uk
f: 01895 250951

Our Loans

Our Loans

You can apply for a loan from Hillingdon Credit Union if you are an existing member or on day one of joining. You must be aged 18 and above.

Which loan is right for you?

We provide very competitive loan facilities, even if you have no prior credit history or a difficult credit history. The key factor in agreeing to provide a loan is ensuring you have the ability to meet the regular loan payments. We have three types of loans – the key features are set out below:

 

Child benefit loan

Standard loan

Home owner loan

Amount available

From £200 to £500

From £200 to £7,500

From £7,500 to £15,000

Term

Up to 12 months

From 1 month to 5 years

From 1 year to 5 years

Interest rates

From 2% to 3% per month. (26.8%APR and 42.6%APR

From 1% per month (12.7%APR) to 1.5% per month (19.7% APR)

From 5.9% APR to 9.9% APR

Key conditions

Must be in receipt of child benefit

Must be in receipt of an income

Must be a home owner

 Some of the common key features of our loans are: 

How to apply 

We consider loan applications for any worthwhile purpose. Each application is treated in the utmost confidence and will be considered on its own merits.  

You can apply online via the members area or by downloading an application form and posting it to us, call into one of our offices or Collection Points, where we can help you to complete the application form, or give us a call on 01895 250958 and we can pop the application form in the post for you.

We will need to confirm your income, either wages or benefits and see a recent bank account statement, less than 3 months old. These documents can be sent by email to info@hillingdoncu.co.uk, posted to us or handed in to either our Uxbridge or Harrow office. Also these documents can be faxed on 01895 250951.

What happens after you have applied for a loan 

Loan applications are considered by our loans team and we aim to give you an answer within 24 hours, once we have all the information.  Our loans team make a careful and personal assessment of whether you can afford to repay the loan and keep up with your other commitments. They also look at your credit history, but having had difficulties in the past won't necessarily prevent you from having a loan. If your circumstances are unusual or about to change, please tell us! 

Once a loan is granted you will be asked to sign a loan agreement form, which is a legally binding document, being a promise to repay the loan on time and in full. Once this has been returned the loan will be drawn down and the funds sent to your nominated bank account. The only exception is for new members where we will also require your first standing order payment to be made before drawdown. This is not a requirement for payroll deduction loans 

All borrowers also have to save a minimum sum of £2.50 per week or £10 per month where loans are below £1,000 and £20 per month for loans above £1,000 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 when you have finished repaying your loan. 

Planning and managing repayments 

Hillingdon Credit Union is flexible with regard to repayment plans and when members face financial challenges.  Should you experience difficulties in meeting repayment commitments you should immediately explain the situation to us and we will treat the matter sympathetically and in total confidence. Please see “difficulty making repayments” for further advice.

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Directors Area