PCCU introduce new streamlined online Join & Loan application

At PCCU we are constantly striving to improve the saving and loan services we provide to the Burnley and Pendle communities. With the introduction of our new streamlined online loan application we hope to make applying for an affordable loan quicker, easier and more convenient for new or existing account holders.

In 2015 PCCU developed and introduced the secure online accounts area.

It has been greatly welcomed, with over 1800 active account holders registered to make withdrawals, complete loan applications and communicate with staff.

Feedback has highlighted that although many people still enjoy visiting our three branches, the ability to request savings withdrawals and complete loan application at a time best suited to you is a vital service.

In 2018 69% of the UK population regularly used online banking as their preferred form of interaction with their bank, we recognise it is the same for PCCU account holders with 900 loan application being submitted online and over 2500 savings withdrawals processed in the past year.

For existing account holders the new service will severely reduce the amount of time it takes to complete a loan application. After completing security access, the account holder’s details will be pre-populated, including current balances, eliminating the need to re-enter information. An additional benefit of the new platform is the ability to attach supporting documents to the application; such as bank statement, proof of new address or wage slips.

For new applicants the online service to join and borrow will greatly reduce the time it takes to open an account and apply for a loan at the same time. In the past year we have seen the number of new account holders joining online increase month-on-month, it has truly become our 4th branch, with 45 new account holders joining PCCU through our website in November 2018 alone.

For new account holders, who provide all the required information PCCU aim to provide a loan decision within 24 hours.

With the old online application a person would have to join PCCU, wait for the account to be activated and then apply for a loan which could take up to 1 week. The new join and borrow application requires less information, is less intrusive and reducing the need to re-enter information, resulting in a faster to process. At the end of the application there is also the option to upload supporting documents such as wage slips and banks statements. So all the information is gathered in one process, which saves phone calls or visits to PCCU branches.

With 89% of the UK population having access to the internet and 80% of those people using smart phones, PCCU know how important it is to continually improve our online services. The new join and borrow platform will make it easier and faster by removing barriers for both existing and new account holders to complete loan applications.

We look forward to account holders using the service and welcome any feedback. You own PCCU – please help to shape our development.