My Community Bank commended lender of the year | moneyfacts.co.uk

Moneyfacts.co.uk will never contact you by phone to sell you any financial product. Any calls like this are not from Moneyfacts. Emails sent by Moneyfacts.co.uk will always be from news@moneyfacts-news.co.uk. Be Scamsmart.

MONEYFACTS ARCHIVE. This article was correct at the time of publication. It is now over 6 months old so the content may be out of date.

Michelle Monck

Michelle Monck

Consumer Finance Expert
Published: 17/03/2021

My Community Bank has been commended for the non-mainstream loan provider of the year 2021 at the Moneyfacts Consumer Awards in January 2021. Analysts at Moneyfacts reviewed the loans available from non-mainstream lenders to create a shortlist. These then went forward to a public vote to decide the winners, highly commended and commended brands.

David Hendrick, CEO of My Community Bank said “We’re very proud to receive this recognition. Many thanks to all of the customers who voted for us in this category, and to our hard working and dedicated colleagues who made this possible.
“My Community Bank has the objective of fighting financial exploitation. We want to continue to offer a great experience to our members, and we’re committed to helping more and more people access affordable finance as we grow.”

What loans does My Community Bank offer?

My Community Bank is a credit union, meaning it does not operate to make profit for shareholders, but instead is owned by those taking loans and holding savings accounts with them. Credit unions exist to help all sorts of people access finance without having to resort to loan sharks or expensive pay day lending. They offer loans from £1,500 to £25,000. There are no arrangement fees to pay. Loans can be applied for online.

Find out more about My Community Bank.

Who is eligible for a loan from My Community Bank?

My Community Bank is a credit union and those applying for a loan will need to meet its membership criteria, that may include being a member of a trade union or other organisation such as the Coop or National Trust, or working in a particular industry or sector. Those applying for a loan from My Community Bank use an eligibility check to make sure they qualify for a loan and do not affect their credit score unnecessarily.

How much can applicants borrow from My Community Bank?

Loans are available from between £1,500 up to £25,000.

 

Are there any fees for a loan from My Community Bank?

No, My Community Bank does not charge any arrangement fees and offers a transparent process to all fees.

 

More about My Community Bank

My Community Bank has grown from a credit union called Brent Shrine Credit Union registered in 1980. The credit union aims to help fight financial exploitation and to widen access to finance for the community.

Five-star rated unsecured loans

Moneyfacts also reviews unsecured loans to identify those with the best levels of cover. The best ones are given a five-star rating.

Read more about five-star rated unsecured loans.

Loans calculator

Use our loans calculator and see how much you could afford to borrow each month.

Disclaimer

Information is correct as of the date of publication (shown at the top of this article). Any products featured may be withdrawn by their provider or changed at any time. Links to third parties on this page are paid for by the third party. You can find out more about the individual products by visiting their site. Moneyfacts.co.uk will receive a small payment if you use their services after you click through to their site. All information is subject to change without notice. Please check all terms before making any decisions. This information is intended solely to provide guidance and is not financial advice. Moneyfacts will not be liable for any loss arising from your use or reliance on this information. If you are in any doubt, Moneyfacts recommends you obtain independent financial advice.

Cookies

Moneyfacts.co.uk will, like most other websites, place cookies onto your device. This includes tracking cookies.

I accept. Read our Cookie Policy