6 Towns Credit Union offers a number of different loan options to suit your every need!
Our loans are available for just about any purpose - a holiday, Christmas, celebration expenses, home improvements - you name it and we’ve probably lent to cover the cost of it!
The loans are based on your ability to repay, and members can apply for a loan after their first deduction as long as they have a minimum of one month’s loan repayment in savings. Members without permanent work contracts should contact the office for more information. 6 Towns Credit Union can only lend to Credit Union members aged 18 and over.
Loans through 6 Towns Credit Union are covered by FREE life insurance (terms and conditions apply).
How to Apply for a Loan
Most loans are arranged by an appointment. At the appointment you will need to provide up to date evidence of your income, your outgoings and details of any other commitments to our loan officer. Appointments must be made prior to visiting the office on 0121 553 3110.
 Download the Loan Application Form here (159.3kb)
Once you have completed the Loan Application Form, bring it to our West Browmich office together with proof of all your income. The receptionist will verify that the form and documentation is complete to start the process. PLEASE NOTE: Loan applications may take up to 3 weeks for approval. If your loan is refused or any change of reason for the loan will require a new loan application to be submitted.
Failure to maintain loan repayments
We make every endeavour to help members when their finances or circumstances have changed but members must inform us in writing so that we can make arrangements during periods of difficulty.
If members fail to inform us that they are experiencing financial problems then we have to protect our members' savings. Should you fail to inform us then our Defaulted Loan Procedure will automatically be initiated. Once you have received a Final Notice Letter you have 28 days from the date of the letter to respond. If at the end of the 28 days you have failed to resume your repayments your membership will be suspended (subject to appeal). Any monies left in your accounts will be paid against your outstanding loan and we will pass the remaining debt to be collected by a 3rd Party.
From this point the Debt collectors will deal with the collection of the outstanding debt. Please note they will add their charges to the outstanding loan. Under the terms of the Loan Agreement we reserve the right to make a claim against any income that you may earn. In addition under the Eligible Loan Deduction Scheme we can reclaim the full amount plus any interest and charges that have been accrued direct from your benefits through the Department of Work and Pensions.
The pursuit of an unpaid loan will continue until the outstanding amount due to 6 Towns Credit Union is paid in FULL.
6 Towns will not enter into any correspondence or discussion once a debt collector is dealing with any loan(s) in default. All correspondence must be made directly to the Debt collectors themselves.
This also applies if 6 Towns Credit Union have been successful in a claim of repayments through the Eligible Loan Deduction Scheme, through the DWP, as the loan is still deemed to be in default and your membership will remain suspended (subject to appeal) until the full outstanding amount has been recovered.
Under 6 Towns rules there will be exceptions to the above. | 
08 September 2010
