Here at PCCU we like to combine old fashioned virtues such as customer service and accountability with the latest technology. That means we never lose sight of the importance of the personal touch, and of treating our account holders like human beings rather than just numbers, but at the same time we try to make things as quick and simple as possible by offering options such as online loans.

Our online loans make it easier to apply to borrow, and speed up the turnaround time, making it simpler for our account holders to enjoy the peace of mind of knowing that they’re borrow from a genuinely ethical lender. Being an ethical lender means that we work on a not-for-profit basis and plough any money we do make back into the local community. It also means that we’re able to offer the lowest interest rates we can, and to operate without things such as set up fees, late payment penalties and early settlement penalties.

When someone takes out a loan with us they know from the beginning exactly how much interest they’ll be paying, and that the rate we advertise is the rate we charge all borrowers. They also know that the amount of interest paid will reduce as the loan is paid off, and that we’ll only ever lend an amount they are able to pay back through a payment plan which matches their circumstances.

Every application, including those for online loans, is dealt with by an individual member of our team rather than some faceless computer, and we always try to come up with a response within a couple of days. By putting the process online and allowing applicants to apply at a time best suited to them, we’ve made it quicker and simpler and, if you provide all the information we need, we may even be able to give you an answer as soon as the next day. As soon as a loan has been approved, what’s more, the money will be transferred to your account, leaving you free to spend it with the peace of mind of knowing that you’ve taken control of your finances.

Account holders can use our online loans however they wish, and that covers everything from borrowing £100 to put toward the cost of replacing school uniforms to asking for £5,000 to purchase a new car without having to deal with a much more costly finance package. The exact amount borrowed will depend on the circumstances of the account holder and how much they can realistically afford to pay back. Ethical lending means responsible lending, and we would never set a repayment plan we do not believe the borrower is able to meet.

In some cases the loan may be used to consolidate several existing loans, bringing down the overall amount paid back each month and simplifying it to one repayment. We understand that dealing with financial issues, particularly during a time of low wage growth and rising prices, can be extremely difficult. Our online loans are just one of the ways in which we try to help our account holders afford the things they need without slipping into unaffordable debt.