General Enquiries: 020 7561 1786 or Email: info@credit-union.coop      |       CU Loan Repayment Issues Only: 020 3763 8397  or Email: loansupport@credit-union.coop

Fed Up With Bank Bonus Culture?

High Street bank accounts are very convenient, but can be very expensive with overdraft and other charges, and the bank continuously encouraging you to borrow. The Credit Union offers a real alternative payment card product with our ‘credEcard’ partners.

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 Fed Up With Bank Bonus Culture?

– Our Alternative
The ‘credEcardplus’

You can use the ‘credEcardplus’ in almost exactly the same way as a bank account with wages, benefits, or Credit Union loans being credited directly to your account. The ‘credEcardplus’ acts as your debit card, to purchase goods or services online, or in stores or restaurants, anywhere that displays the VISA symbol. You can get cashback in shops or withdraw money from ATM’s at home or abroad.

Unlike a debit card, with the card we provide cannot go over limit, has fixed and open charging structure, and does not need to involve credit of any kind.

How It Works

For a small monthly charge the ‘credEcard’ is a real flexible friend rather than a route into debt. It’s a ‘pre-paid card so you can only spend the sum you load it with, avoiding any temptation to overspend. You can add to the card balance from your Credit Union savings account, or with a Credit Union loan. If you need a VISA card and need to borrow then you can do it at greatly reduced costs. Once the ‘credEcard is loaded, you can use it as your very own Credit Union equivalent version of a debit card.

 

The prepaid card you can bank on

The ‘credEcardplus’ is a re-loadable prepaid card and e-account that works like a High Street bank account debit card. Anyone can apply and no credit checks are required.

The ‘credEcardplus’ is ideal for you if you…

are looking for an easy alternative to high street banking

  • want to pay for things by card, in stores, restaurants  or online
  • are paying excessive bank charges and overdraft fees
  • want to have your wages / benefits paid into an account and have access to them immediately
  • want to be able to manage your finances and budget more easily
  • want a safe and convenient way to spend your money at home or abroad

Take Control Of Your Money…

  • No overdraft fees or expensive charges if you accidentally miss a payment
  • Only spend only what you have loaded on to your ‘credEcardplus’ account
  • Get instant access to your money at ATMs or via cash-back at supermarkets
  • Pay bills, transfer money to different accounts using the internet
  • Set up standing orders and regular payments for rent, mortgage, gas, electric, or credit union savings account.
  • Receive up to the minute balance and account info by SMS, email or online
  • UK based customer service support available 6 days a week
  • Low fees & no hidden costs*
    *One off £10 card purchase cost and flat £2 per month charge. ATM’s charge for withdrawals, but ‘cash-back’ at supermarkets is free.

With ‘credEcardplus’, managing your finances couldn’t be easier!

 

Apply now and join the 1,000’s already using ‘credEcardplus’. Click the link below to download an application, then send the completed form to the credit union.

Cardholder Application Form

Download Cardholder Application Form (251.4kb)

‘credEcardplus’ gives you cash rewards and special discounts too.

Visit www.credecard.com  for more details.

Use your credEcardplus prepaid Visa card when shopping with many retailers and you can get cashback rewards, paid back into your e-account, and benefit from exclusive discounts of up to 50% off goods and services with the online rewards programme.

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Engage Envelope – Money Management Tool

Want to take the stress and hassle out of paying your rent, mortgage, utilities, and phone bills? Your Engage account comes with a special feature that allows you to place money into virtual Envelopes so you don’t accidentally spend the cash you need to pay essential bills. Envelopes are simple to set up and can be done by the account holder. Once set up you don’t need to worry about them. Money will be automatically ring fenced when it comes into your Engage account.

Click to Download Engage Envelope – User Guide

Customer Service
Terms & Conditions

engage t&c

Engage Rewards

Fantastic rewards and offers available from national and local retailers when you use your Engage Visa debit card. You can have cashback rewards of up to 15% every time you use your Engage Visa debit card to pay for goods at any one of the following participating retailers:

The Jeremy Hopgood Rooms, Caxton House, 129 St John's Way, Archway, London N19 3RQ
Tel: 020 7561 1786 (Multilingual advisers available)
Email: info@credit-union.coop

If you have a loan from us and need a little help managing repayments then
please call us on 0203 763 8397 to speak with one of our friendly Loan Support Officers who will find a way to help.

© 2026 LCCU  |  Complaints  |  Privacy Policy

© 2026 LCCU  |  Complaints  |  Privacy Policy

How We Decide to Whether to Offer a Loan – The Basics

The Credit Union’s primary objective is to help members avoid or escape from debt by promoting a culture of saving. When we offer loans, we only do so if the borrower agrees to save a little while they repay. The establishment of a savings habit is proven to reduce the harms and risks of long-term borrowing becoming problem debt. Basically, when we get a loan application our decision is based on the following two principles:

1. Do we trust the applicant to repay the loan?

2. Can the applicant afford the loan repayment

This guide is designed to help members understand our thinking so you can best prepare if you should need to apply or re-apply for a loan.

1. Key Points in Our Assessing Trust of the Applicant

a) Has the applicant started saving? The money we lend is members savings so, especially at busy times, we have to give priority to loan applications from members who have made at least one savings payment. That first payment is good evidence that you are a real person and helps us confirm identity.

b) Proper Proof of ID & Address? What forms of proof of identity and address has the member provided? If you are able to connect your bank account through ‘open banking as art of the loan application process it a good way of proving ID. First time loans may be required to use online Open Banking.

c) Previous Borrowing History. Has the applicant borrowed and repaid us previously? Previous good repayment record supports any application.

d) Did the applicant inform us of other money owed? Failure to list all debts in the application process is likely to result in the loan application not being approved. It suggests that the applicant is either not in control of their money or not being completely honest with us and in either case we cannot put our members savings at risk by lending. Credit Reference Agency checks are used to show us what money is owed and to whom.

e) Is the member sensible with money? When we review the bank transactions of the loan applicant, we often see patterns of expenditure that suggest the applicant is not taking a sensible approach to expenditure. Changes in the way they manage their finances would suggest that the loan would not really be necessary. We want to help people be in control their finances and do not want to lend members savings to people who are not deemed sensible with the way they spend. This may be things like gambling, excessive shopping and/or eating out/takeaway food deliveries.

f) Always be ‘up front’ in your application. Honesty pays. We do not judge.

2. Key Points in Our Assessing Affordability for the Applicant

a) Is this loan in the member’s best interest? The value of the loan application in comparison with your income is a key measure of affordability. The loan interest members pay on loans pays our staff salaries, but we are not out to profit from you, rather we want members to borrow less over time and take control of their finances.

b) Positive Bank Balance at Month End? Is there money left in the members bank account at the end of the month that would be sufficient to cover the loan repayment if approved? If not, the member must explain how the loan would become affordable, for instance, by reducing expenditure in other areas.

c) Is the applicant struggling with existing debts? When we review the bank transactions of the applicant we can see income and expenditure. If the loan applicant tells us how the loan will clear other debts and reduce their expenditure this will help us understand affordability.

d) Is the purpose of the loan considered sensible? If the applicant is not paying essential bills such as mortgage or rent then a loan for a car or holiday is likely to be unwise and unaffordable.

e) Has the applicant fully explained why they need to borrow? Always feel free to email or call us explaining the circumstances that mean you need to borrow. The reasons for needing to borrow are complex, but being honest and explaining the circumstances can often help the ordinary humans on the Loans Team at the Credit Union to be able to assess trust and affordability. You briefly explaining your thinking about affordability gives us confidence that you are thinking sensibly about money, and sometimes allows us to suggest alternatives that may well be in your best interest.

f) Is the loan to clear other more expensive debts? Credit Reference Agency checks are used to show us what money is owed and to whom. If your loan application is to pay off other debts, stop and list every one of those debtors.Work out the cost of each. Consider clearing one or two at a time if its your first Credit Union loan. Pick them off one or two at a time, the most expensive first.

g) Has the applicant stopped to think about affordability? The ‘Your Money’ section of our website provides access to a budget planner which, if used and shared, gives us good evidence of affordability. Particularly helpful for loan applicants in financial stress. We hope this gives you an idea of how we decide yes or no to loan applications. The decision is by one or more other credit union members on our Loans Panel. We hope this helps you understand our thinking so you can best prepare if you should need to apply or re-apply for a loan.