Standard Loan Details
If your fridge or washing machine breaks down, it can be hard to find the money quickly to replace it. Our Newham Money Standard Loan can help you to get up to £1,500 to help buy household appliances with low interest rates (APR 19.60% to 26.80%)
- Appliances/White Goods
- Furniture
- Technology
- Other essential purchases
- Debt consolidations (to put all your debts into one loan)
To apply for the loan, you need to be:
- A Newham resident
- A member of Our Newham Money
Our Newham Money Standard Loan is provided by London Community Credit Union (LCCU); a lender you can trust.
Our Newham Money loans through London Community Credit Union are much cheaper than many other providers.
There are lots of other member benefits with Our Newham Money LCCU loans, such as Free Loan Protection Insurance, negotiable repayment terms and interest on the reducing balance of your loan.
This means your interest repayments will get smaller as your loan is reduced. LCCU will also work to help you if your circumstances change, and your loan will be totally written off if you die.
Things you’ll need…
To apply for a loan online, or in store, you'll need the following:
- Proof of identification e.g. a passport or driving licence
- Proof of address e.g. a recent utility bill, rent book, council tax letter or mortgage statement
- Proof of national insurance number e.g. wage slip or benefits letter
- Last three months bank statements for ALL bank accounts held
- Last three months payslips (even if paid weekly or fortnightly)
- Proof of any other income (e.g. benefit award letters)
- Current statements for all of the following if you have them: loans / mortgage / credit cards / catalogues / other debts / borrowings
- If you are seeking a loan for Debt Consolidation supporting evidence will be required – Full details and letters will be required
If you need support or help scanning in your documents, you can contact us to book an appointment with an adviser.
* By undertaking this application you agree that your information will be shared between the London Borough of Newham and London Community Credit Union. More information about data sharing available on our website.