Payroll Membership is a scheme NLCU offers partner organisations to enable them to help their employees save. Employees specify the amount they wish to save and this is deducted from their salary via payroll and transferred directly into their NLCU savings account. If the employee wishes to apply for a loan the repayment amount can be made in the same way, via payroll.
All of the employees of any local organisation that has joined the scheme are eligible for payroll membership. If your organisation is not part of a scheme but you feel they would be interested, then contact us with the relevant person’s details so that we can attempt to get something in place.
Click the ‘Join’ button under ‘Apply’ at the top of the page if you aren’t a member already. Fill in the application form and click submit. You will receive a welcome email once your account has been opened. Then you simply have to fill in our Payroll Deduction Order and we will set up your deductions with your payroll for you. You can also come into the branch if it is more convenient to do so.
If you ever want to change or cancel the amount being deducted from your salary you just have to fill in this form stating the amount you want it to be changed to or expressing your desire to cancel the deduction altogether. You can provide us with this form at our office, through post or by email.
You can withdraw your money:
You need to complete our application form – online or a paper copy. You may be asked to provide 3 months bank statements and proof of your income. As a responsible lender we consider the affordability of repayments and your history of repaying other lenders.
We consider all loans and we are often able to help when the banks say no. We credit score all applications but we look at your current situation rather than simply looking at the past. We have real people assessing your application.
No you don’t need to. Saving regularly with us can help you if you have a particularly poor credit rating but you can apply to us for a loan without savings. We encourage all of our borrowers to save so that they have money to help them in emergencies.