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Benefits

Do you live or work in North London?

 

Joining as a member is easy, all you need to do is complete a membership application and select a way of making payment into your account. We can take savings through direct debit, standing order or payroll deduction if you work for one of the specially selected employers that currently offer a payroll deduction scheme.

  • Fair and competitive interest rates on loans
  • Share in our success through annual dividends
  • Your money will be used locally to make loans to other members

Step 1 – Savings or Loans?

If you want to save with us, please complete the simple steps below.

If you want to borrow please apply for membership first. The membership application form will ask you if you would like to make a loan application.

 

We recommend that you visit our loans section first for more information about borrowing.

 

Step 2 – Are you eligible?

To join our Credit Union you will need to live or work within our common bond area.

Our Common Bond

 

Each credit union serves a group of people who have something that connects them. This is known as their ‘common bond’.

 

North London Credit Union is open to people who live, work, worship, study or volunteer in the London Boroughs of Barnet, Enfield, Haringey and Waltham Forest or in the postcode areas of EN6, EN7, EN8, EN9, EN10 or EN11.

 

We also accept employees of the following organisations, regardless of where they live or which site they work at:

 

  • Barnet & Southgate College*
  • Central London Community Healthcare NHS Trust
  • Citizen’s Advice Enfield*
  • College of North East London (CONEL)*
  • London Borough of Enfield (including Enfield Schools and Independence & Wellbeing)*
  • Enfield Enterprise*
  • London Energy (formally London Waste)*
  • North Middlesex University Hospital NHS Trust*
  • Reynolds Catering Services Limited*
  • Royal Free NHS Trust

 

*We have partnerships with these employers to enable staff to save by deduction from their payroll. Please see our Payroll section for more information.

 

Business owners from outside the above areas can join if they are members of London Enterprise Club, North London Chamber of Commerce & Enterprise or Your Business Community.

 

Step 3 – What documents do I have to provide?

To comply with current Money Laundering Regulations we must obtain proof of your identity and proof of your address before we can open your account or offer you a loan*. This is to ensure that the Credit Union is not used to hide the proceeds of crime.

 

Joining online or by post:

 

We will usually attempt to verify your identity electronically, using the electoral register and other records, including verification with credit reference agencies (this doesn’t impact your credit score). If we can’t do this, we will ask you to send us further proof of identity and address.

 

Joining in person:

 

Our offices are currently closed to members and visitors.

We ask you to bring in proof of your identity, by providing at least one form of ID from List A, and proof of your address by providing at least one document from List B.

 

LIST A – proof of who you are:

 

  • Current signed UK passport
  • Current UK photo-card driving licence (Full or Provisional)
  • Current Full UK driving licence (old style, paper based)
  • Current Full EU photo-card drivers licence
  • HM Revenue & Customs Tax Notification
  • Evidence of entitlement to state benefit, pension, tax credit, etc
  • Armed Forces/Police ID Card
  • EU Member State ID Card
  • Signed Firearms Certificate
  • Current UK Residence Permit.

 

LIST B – proof of where you live:

 

We accept a number of different document types that we can use to verify your address.

 

You only need to submit one form of proof from the list below.

 

Please note, we can only accept scanned copies of physical documents as proof of address. These documents must have been mailed to you at your current address. We cannot accept digital versions of documents, such as online bank statements or utility bills.

 

  • Utility bill (we cannot accept mobile phone bills), dated within the last 3 months
  • Council tax bill for the current year
  • Current UK photo-card driving licence (Full or Provisional)
  • Current Full UK driving licence (old style, paper based)
  • Bank or building society statement showing address, dated within the last 3 months
  • Mortgage statement dated within the last 3 months
  • Evidence of entitlement to state benefit, pension, tax credit etc. dated within the last 3 months
  • Official letter from a government agency (e.g. DVLA, HMRC, Job Centre Plus, NHS), dated within the last 3 months
  • Care Home letter signed by an appropriate authority
  • Proof of mail redirection (on Royal Mail letterhead, not internet printout)
  • Council Tenancy Agreement or rental agreement signed by both parties
  • Court appointment instruction (e.g. Probate or Court registered Power of Attorney)

 

Even if you do not have this kind of identification, we can usually still accept you as a member for saving or opening a pre-paid card account. Please bring in whatever documents you have, and we will help you to obtain further proof if we need it.

 

Borrowing from us

 

We carry out a full credit search (which will be visible on your credit file) and we report loan repayments to credit reference agencies each month, so repaying your loan as the agreement will help to improve or maintain your credit record. On the other hand, late, missed or reduced payments may damage your record, making it harder to access credit and may lead to further action being taken to recover the amount owed.

 

We carry out checks on applicants’ ability to afford repayments and look at income and existing spending and will ask for this information as part of the application process.

 

You can join and save or open a pre-paid card, regardless of your residency status (right to remain in the UK), as part of our Credit Policy for loan applications, however, we will need proof that you have the means to repay your loan for the whole term, so your right to remain and support yourself must extend at least six months longer than the loan repayment period.

 

We ask everyone to provide this, regardless of whether or not we think they were born in the UK. If you have already provided one of these documents as proof of ID or proof of address, you don’t need to provide anything else:

 

  • Current UK or European Union Passport
  • Official letter from the Home Office stating that you have the right to remain
  • Biometric residency permit
  • Current UK photo-card driving licence (Full or Provisional), stating that you were born in the UK or Ireland
  • Current Full EU photo-card drivers licence, stating that you were born in the European Union
  • Valid visa within your passport. If the passport itself has expired, you should also provide your current passport

 

Junior Saver Accounts

 

Savings accounts for children and young people under 18 are available for relatives of members, so if you are not already a member of North London Credit Union, you would need to join and save a minimum of £10 a month into your own account (or have a lump sum saved in our ISA or other savings account).

 

We would need to take copies of the child’s birth certificate or passport.

 

You should also be aware that control of the account is given to the child or young person when they turn 18 and we are no longer able to provide information about the account without the account-holder’s permission.

Step 4 – Complete Application Form

Now that you’ve confirmed you’re eligible, and you can prove your identity, you can complete our online Membership application form by clicking on the button below.

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Your money is protected up to £85,000