• Interest 2% monthly (26.82% APR)
  • Repayment periods from 6 to 60 months
  • No fees, early repayment charges or penalties
  • Payments are made directly to the creditor

In order to receive a loan through North London Credit Union you must be a member. You can apply to join and borrow at the same time and membership is free.


We can never guarantee to lend. We carry out an assessment of the affordability of loan repayments and we also obtain a full credit report to review each applicant’s history of managing credit.


All loans are made to you as an individual and you as the applicant are fully responsible for ensuring repayments are made.


Repayments on your loan must be made by Direct Debit or payroll deduction (available from selected employers).


If you have any questions about loans, please feel free to call us on 020 8366 8244, option 1.


To apply now, click here if you are a current member or apply through the online members area. If you are not a member yet, you can join and apply here.

A debt consolidation loan is not the right option for everyone.


Consolidation is intended to make your finances more manageable over the longer-term, meaning that instead of having multiple loan repayments to manage or paying more in interest than the amount you borrowed, you will have just one, affordable payment each month. It is not intended to clear your debt to enable you to borrow more.


As with all our lending, we will need to establish that our loan repayments are affordable for the term of the loan and that the applicant has a reasonable history with managing credit (which we assess by carrying out a credit reference agency search). We will assess whether consolidating your existing debts would make financial sense for you in the long term.


With a debt consolidation, we will pay your creditors directly wherever possible and you will be expected to close revolving credit facilities (credit cards, store cards and catalogues) as a condition of accepting the loan, so we will need to obtain some additional information when the loan has been approved (we will never ask for your online account log-in details and there are no admin charges, set-up fees or costs to pay, other than interest, which is incorporated into your monthly repayment).


We will not lend for any purpose if you:

  • Are in an Individual Voluntary Arrangement (IVA)
  • Have an Debt Relief Order (DRO)
  • Are in a formal Debt Management Scheme or Debt Management Plan
  • Are an undischarged bankrupt
  • Have an Protected Trust Deed


We are very unlikely to lend if you have a history of taking out credit and failing to repay it, usually indicated by outstanding County Court Judgements (CCJ) and defaults on your credit record.


Please call us on 020 8366 8244, option 1, if you would like to talk to us before making an application.


If your debt is unmanageable and you are finding it hard to meet your priority living costs, such as housing, utilities, council tax, etc. you need to obtain proper financial advice, which is available for free from debt charities, such as StepChange or your local Citizen’s Advice office. Further information can be found here.

The FairLife Personal Loan Mark


North London Credit Union has been awarded The FairLife Personal Loan Mark which has been created to ensure that FairLife loans are well designed in the interest of the consumer. Firms carrying the Mark today are demonstrating, in a highly visible manner, their commitment to putting the wellbeing of the public at the heart of their business.



Responsible Lending


Lending is dependent on status and affordability. A search of the applicant’s credit history is made on all loan applications, except loans secured against savings. Information on repayments is reported to our credit reference agency and it may damage a borrower’s credit record should repayment obligations not be met.

Our loan products at a glance

The loan you want – when you need it


A loan secured against your savings


Member of ABCUL

Authorised and Regulated by

Your money is protected up to £85,000