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How do I get
a loan?
First, become a member (see Join us) and then
simply complete a loan application form (click here to download
Loan Application Form). If you have any difficulty completing the
form then please talk to one of our volunteers who'll be happy to help.
You will need to bring in all of the following which apply to you:
- the last 3 months' bank statements
- the last 3 months' pay slips or recent benefit letters if you're not working
- statements for any credit cards you have
- a copy of any utility bills or receipts from any recent top-up card payments you have made
- recent correspondence from anyone else you owe money to
- documents relating to the reason for your application (details of the car you want to buy, bills you need to pay off etc)
Please note: If you have had a CCJ or problems in the past, this need not stop you getting a loan, as long as you declare it on your application form and can produce some paperwork about the problem.
How much could I
borrow?
Our loans range from around £500 for people on benefits with no savings,
to around £10,000 for people with a long savings history with us. What
we lend you will depend on your ability to repay so apply to us for what
you need, and we'll do our best for you.
What are the
interest rates?
Our interest rates compare very favourably with any of the high street
banks and are actually much better than other lenders like Provident,
Oakam or Brighthouse. The rates get better the more you save but even
without savings, we'll never charge you more than 2% per month or 26.8%
APR. Regular savers can pay half of this amount once they have built up
a good record with us.
Please note: You cannot apply for a loan
without first becoming a member of the WFCCU.
Click here to download
Loan Application Form
