The main advantage of NESCU?

You don’t need to touch your savings to meet immediate needs.

Instead, you can borrow money at our competitive rate: one that’s lower than many other loan companies.

Key facts

  • Borrow up to three times your savings.
  • Just 1% interest a month (12.68% APR).
  • No charges, no penalties.
  • Interest calculated daily helps you pay your loan off sooner.

Loans for trusted customers

We only loan money to people who are already NESCU savers. Once you’ve saved continuously with us (for at least eight weeks), you too may qualify.

…that are affordable

Our repayment terms are 12.68% APR.

That’s 1% per month, on a decreasing balance. The benefit of this: the quicker you pay off your loan, the less interest you pay. There are no charges for early settlement (unlike doorstep sellers, who charge you the full interest, no matter how quickly you repay the loan).

…and responsible

The most you can borrow is three times your savings. There’s a simple reason for this. NESCU believes in ensuring you can afford to comfortably repay your loan.

We would never intentionally place someone in more debt than they can afford. Equally, rather than turning down a loan altogether, we may instead offer you a smaller amount. As an ethical lender, we try to help you be financially responsible through budgeting, planning and saving.