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    Tel: (01482) 778753 Email:

    19 April 2014

    Why borrow from Hull & East Yorkshire Credit Union?


    • You only pay interest on the reducing daily outstanding balance – not on the total amount borrowed, and it’s not “front loaded”, unlike some lenders.
    • No hidden charges – no small print.
    • No penalties if you want to repay early.
    • We are happy to consider small loans – other High Street lenders may not be so keen!
    • We take care to arrange weekly, fortnightly or monthly repayment terms that you can afford.
    • Members' Life Insurance is included (up to age 70) at no extra charge.
    • It’s an ethical way to borrow – all HEYCU money stays within the local community.
    • It shows support for a local organisation owned by the people of Hull & East Yorkshire – no outside shareholders or City investors to please!

    Which is the right loan for you?

    We have four loan products available. To find out which loan is suitable for you and how to apply, browse through our listed options in the left hand sidebar.

    How do we assess our loans?

    Each loan is assessed on an individual basis and takes into consideration a variety of factors including the affordability of the loan, previous savings and borrowing patterns with the Credit Union, credit history and so on.

    All loans are subject to approval at the discretion of the Credit Union. Applications can be turned down. If we can’t approve your application we will tell you.

    Here is a guide to how we use Credit Reference Agencies to help us make decisions on loans: Condensed Guide to CRAs and FPAs


    What happens after I’ve applied?

    If your loan is approved, we will ask you to sign a Loan Agreement. We can pay your loan direct to your bank account or write you a cheque. Or, if it’s to pay a bill, we can pay it direct to the supplier on your behalf.

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