Just is a responsible lender who will only lend you what you can afford to repay so all our loans are subject to status and based on an applicant's ability to afford the repayments. 

To apply for a loan you will need to:

• Be aged 18-65
• Be eligible to join Just Credit Union if you are not already a member
• Have a minimum income of £125 per week

Step 1: Complete the online application form or alternatively download, complete and return a printed copy of the application form to our office.

Step 2: Provide your address details for the last 3 years, employment information and details of your income and outgoings.

Important Information:

• Just Credit Union encourages members to save as they borrow.  If you want to take out a loan we will agree an affordable repayment plan and add a small sum which will be saved, so as you repay your loan you continue to save.

Member loans

• You must be aged 18 years or more and a member of Just to borrow from the credit union.
• Members may apply for a loan at the same time that they join. The minimum amount for a member loan is £300 and the maximum amount is £15,000 subject to status. However, this threshold may be exceeded subject to the value of the net amount owing to Just (shares held less the outstanding balance on the loan) remaining below £15,000. The amount members are able to borrow is assessed on their ability to afford the repayments based on their income and expenditure.
• Just Credit Union does not guarantee to grant the loan amount requested. All loans are assessed on their own merits and subject to affordability.
• The maximum repayment period for Just Credit Union loans is five years. The actual maximum repayment period will vary according to the type and size of loan applied for.
• Loans are covered by FREE loan protection insurance up to the age of 70 and will be repaid in full. Loans made by members over the age of 70 are not covered by FREE loan protection insurance.
• Top ups to an existing loan will only be considered 3 months after any previous loan has been approved.
• Under the Distance Marketing Directive members have the right to cancel a loan agreement within 14 days by informing the credit union and returning the money borrowed in full.
• Members who have taken out a loan with Just Credit Union must, as a measure of security, keep a minimum of 4 weeks or 1 month’s loan repayment in their savings account. Members who have taken out a loan and do not have sufficient security in their accounts will not be permitted to withdraw funds from their account until the relevant level of savings is reached.
• Loan repayments can be increased if requested without any penalty. It may also be possible to reduce loan repayments under certain circumstances.
• Before a member can close their account and end their membership of Just Credit Union all outstanding loans must be repaid in full.

Interest charges

• The maximum rate that Just Credit Union may charge on your loan account is 3% per calendar month on the reducing balance of the loan (42.6% APR).
• Interest is calculated daily on the reducing balance of your loan.

Defaults

• We may use any balances held in a member’s savings account to reduce or repay any loan held by them that falls into default. We will notify members that this may happen and give them the opportunity to make the necessary repayments.
• We may share details of how members manage their borrowing from us with Credit Reference Agencies (CRAs). We may register the default of members who fail to respond to default notices sent by Just Credit Union with CRAs. The registration of a default notice may affect their ability to obtain further credit.
• Just Credit Union will take all necessary steps, including legal action, to recover loans in default. If members fail to respond to default notices sent by Just Credit Union we will pass the debt to a debt recovery agency.
• Failure to respond to the debt collection agency may result in court action being taken to recover the money owed.

Credit reference and fraud protection agencies

We may use credit reference and fraud prevention agencies to help us make decisions. What we do and how both we and credit reference and fraud prevention agencies will use your information is detailed in the leaflet: A condensed to the use of your personal information by ourselves and at Credit Reference and Fraud Prevention Agencies. If you would like to read the full details of how your data may be used please click here, phone 01743 252 325, or ask one of our staff. By confirming your agreement to proceed you are accepting that we may use your information in this way.