Have you had a change in circumstance that has impacted your ability to repay your loan? Please be assured that Northumberland Community Bank is here to help!
At Northumberland Community Bank, we understand that personal situations can change and can leave individuals feeling financially overwhelmed. If you are struggling to keep up with your repayments or have already fallen behind, the best thing you can do is make contact with us. This will enable us to work together and come to an arrangement that best suits your current situation.
Below are some tools and resources to help you manage with your situation and enable you to overcome that feeling of being overwhelmed so you can get back on top of your finances.
How do I apply for a loan?
To apply for a loan you will need first to become a member. It couldn’t be simpler, just click the “Join Now” button on our savings page and fill out the short online application form. Usually, we can check your identity electronically avoiding the complications of providing proof of identity documents.
Once our checks are completed, (this usually takes under 24 hours), you will receive a welcome email providing you with your member number and easy instructions on how to activate your account and access your member area.
This is where you will be able to easily manage your account and apply for a loan.
Membership costs £2.75, we also only take a £2.75 annual administration fee and encourage members to make regular savings into their accounts (although these savings do not need to be a large amount!).
After you have activated your account, you need to log in to your personal member area. To do this use the member login button at the top right of any page on our website. From here, click on “Apply for a loan”. To access your loan application you will be asked to verify your identity by inputting a code which will be sent to your choice of either your mobile or email.
On your application form we will ask for some income and expenditure details. This is easy to do using ‘Open Banking’. This facility allows you to give us permission to view details of your income and expenditure from your bank. You just need to tick the Open Banking box on your application. We do not see your statements but receive information on categories of spending which help us assess affordability for you.
Alternatively, you can provide us directly with this information including 3 months bank statements. Other details we will need are:
- the amount you would like to borrow
- the purpose of the loan
- how long you’d like to take repay the loan
Once we have received your completed application we can let you know usually within 24hours.
Below you will find a collection of helpful guides that will help you navigate your Members Area and the features that we offer:
How to Send a Message via Member Area
How to Upload Documents
How to Sign Agreement
The perks of using our Benefits Calculator:
- Make sure you aren’t missing out on benefits you could be eligible for with our benefits calculator.
- You can use our benefits calculator to get a free and impartial assessment of all the benefits you are entitled to and what you have to do to claim them.
- Over 8 million UK households are missing £16 billion in benefits. Check your eligibility and ensure that you receive all of the benefits that you’re entitled to.
Here is a list of helpful resources that you may find of use depending on your situations:
- Citizens Advice
- StepChange Debt Charity – Free Expert Debt Advice.
- Check Your Credit Score | It’s Free Forever With Experian®
- Illegal Money Lending Team
- Frontline | (northumberlandfrontline.org.uk)
- Cost of Living: Effect on the Nation’s Mental Health [INFOGRAPHIC] – Rehab Recovery (rehab-recovery.co.uk)
- Supporting gentlemen with interview wear. (suit-ability.com)
“I’m proud to be a member of my community bank helping them to help others!”
Is it right for me?
There are many benefits to choosing a Community Bank, from free savings and loan insurance protection, to knowing that your banking is helping the local community…