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To have a loan application accepted you must be a member of Norfolk Credit
Union, visit our Membership Page for more information. Loan Application
In order to assess you application you must complete an income and expenditure
statement.
Income and
Expenditure* *This is an
essential document without which your loan application will not be considered,
and it needs a little thought. The more accurately you complete this, the
quicker the process of checking the application will be. We suggest you study
this document carefully, complete as much as possible at home and then bring it to our branch of
the Credit Union with all the necessary documentary proof, and our volunteers
will go through your application with you and will happily help with resoving
any problems and then forward it to our Loans Officer at Long Stratton. If any
queries arise while filling in the application at home, you can telephone us for
advice at Watton during our office hours (see above), or our Long Stratton
office during normal office hours on 01508 533842.
- Pay a fair rate for your loans, save money by avoiding high cost lenders e.g.
Store cards, Credit Cards and Door Step Lenders, and to avoid Loan Sharks who
are unauthorised lenders charging even higher laon rates.
- Norfolk Credit Union Ltd loans cost are either 1% per month (12.68% APR) or 2% (25.36% APR) depending
on circumstances, and our Loans Officer in Long Stratton will discuss this with you.
- For instance at 12.68% borrow £100 over 12 months. Repayments £8.89p per month,
giving total repayments of £106.57p
- Borrow £1000 over 24 months at 12.68%. Repayments of £47.07 per month., giving
total repayments of £1118.45p
- No loan too small.
- No Arrangement fees.
- No penalties for early repayment.
- Flexible payment periods.
- Loans are usually covered by free life insurance.
- In normal circumstances at least 5-7 days is reqiured for processing a loan.
- You can use the Paypoint card supplied with your account to pay off part of your loan at any time.
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