North East Warrington Credit Union

For Safe Savings and Affordable Loans

NEWCU Logo 8

Standard Loans

North East Warrington Credit Union's standard loans are savings based.  You need to be a member and saving on a regular basis. Regular savings payments need to be made for a minimum of 10 out of 13 weeks.  You can then borrow up to £200 or the amount in your savings plus £125, whichever is the larger.  Once this has successfully been repaid you can borrow up to 3 times your savings up to a maximum of £7,500 with NEWCU Board approval.


  • Low interest rate on a reducing basis: 19.25% APR up to £2999, 16.04% APR for £3000 and over

  • Convenient weekly, fortnightly or monthly payments

  • Borrow up to £7,500

  • No credit checks

  • Loan is not taken from your savings so your savings continue to receive interest


Standard loans last for a minimum of 6 months but can be spread over a maximum of 3 years.


 Borrow up to £500 and save with your Child Benefit

      •Open a Family Loan and Saving Account

      •Service the account with your £20.70 weekly child benefit

      •Apply for a loan of up to £500


For a £500 loan

      Repay the loan at £10.93 per week over 1 year

      Total repayable:     £568.36     Interest 26% APR

After 1 year:

If you leave the weekly balance of your Child Benefit in your account:

      •You will have paid off the entire loan including interest

      •You will have over £500 of savings in your account if you do not draw on it over the year.

      •You can draw on your savings when you need to.

What are the requirements?

      •Banker's Card (if available)

      •Proof of rental address - Rent book / original letter from letting agent

      •NI number - Card or DHSS correspondence

      •Up to date passport or English Driving Licence or Birth Certificate

      •Up to date bank statement

      •Original Payslip (If employed) - no copies

      •Payments to be made only by direct debit through the DWP

      •Application with collection of copies of documents done on one day by appointment

      •Loan will be available on receipt of first child benefit payment

      •Proof of child’s age - Birth Certificate (Limit 17)

Family Loan and Saving Scheme