Moneywise Credit Union Ltd

Moneywise Credit Union Ltd is the credit union in Newcastle. Anyone who lives or works in Tyne and Wear can use their services which include:

• Banking online or in their branch on Shields Rd, Byker
• Savings accounts for children & adults, where you can save as little as £1 per week
• Low cost loans – if you save regularly with them you can apply for an affordable loan from £100 up to £15,000
• Family loan where your child benefit is paid into your Credit Union account and you can apply for a loan up to £750.00
• Benefits account to pay in your universal credit ( especially for those without a Bank Account )
• Credit Repair Loan to help repair your credit rating
• Payroll savings for Newcastle City Council, Sunderland City Council, Newcastle Hospitals, Newcastle University and voluntary & charitable sector
• Engage bank account and Engage Card

Loans from credit unions are referred to as ‘affordable’ as they’re based on what you can afford to pay back. The interest that credit unions charge is much lower than the interest charged by doorstep lenders or pay day loan companies. Interest rates will depend on your circumstances, but the maximum rate that can be charged by a credit union is 3% per month (APR of 42.6%). You may still have to pass a credit check.