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Loan Information Page


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At North Tyneside Employees Credit Union, we currently provide three types of loan.  To gain access to our loans, you must become a member of the credit union.  For more information on how to join North Tyneside Employees Credit Union, please see here.

Low Interest

We have been offering our low interest loans since the inception of the credit union and they provide the cheapest way to borrow money from us.  The low interest loan is offered to our members at an interest rate of 12.68% APR, thatís just a penny in the pound per month, and the amount available is based on the amount they regularly save.

(A 30 day waiting period is required for loan applications when a member increases their shares by more than their normal monthly deduction.)

As a consequence of this, you must have been saving with the credit union for a minimum of 8 weeks to be eligible for our low interest loan.

Based on loan of £500

Low interest loan from North Tyneside CU

Typical APR


Length of agreement

52 weeks

Weekly repayment


Total interest payable


Total repaid


Loan payment periods;

Amount  £                    Term

£0 - £500                      up to 12 months

£501 - £999                  up to 18 months

£1000 - £1999             up to 24 months

£2000 - £2999             up to 30 months

£3000 - £3499             up to 36 months

£3500 - £3999             up to 42 months

£4000 - £5999             up to 48 months

£6000 - £10 000          up to 60 months


Key facts

  • No arrangement fee
  • No early settlement fee
  • Overpayments welcome


You have no doubt been bombarded with advertising about pay day loans and will have also noticed the bad press in relation to these companies and the soaring interest rates they charge.

North Tyneside Employee's Credit Union is pleased to offer a fair alternative to our members.

The credit union access loan;

This is an easy access loan available to all members new and old.  Unlike our standard loan you are not required to have savings to apply.

You can borrow up to £500 payable over 3-9 months at an interest rate of 2% per month (26.8% APR).  Depending on how long you chose to repay your loan the interest payable on the maximum £500 will be between £21 and £55.

Terms and conditions apply.

(Please note, members can only have 1 loan at any one time)

(Members may only have 4 consecutive access loans)

SECURE LOAN                                                                                                                       We are also pleased to be introducing a new lower rate for secured loans. Members applying for a loan that is secured by their share balance will benefit from the new lower interest rate of 0.5% per month (6.9% APR).                                                                                                      This means members applying for secured loans can now save up to £580 in interest.  Please feel free to contact the office if you are interested in either of these new products, or would just like some more information

North Tyneside Employees Credit Union. Quadrant East, The Silverlink North, Cobalt Business Park, North Tyneside, NE27 0BY Authorised by the Prudential Regulation Authority(PRA) and regulated by the Financial Conduct Authority and the PRA.
                   Phone: 0191 643 5881 Email: WEB: