Special Offer for Berwick Borough Housing residents!

Under the 'Berwick Savings & Loans'scheme  - any BBH resident can get an AllPay card, to make payments to their credit union account (savings or loans) at any AllPay outlet. Contact BBH on 08000 461 451 for more information.

Special Offer for Milecastle Tenants

Milecastle Housing has agreed to pay the £2 joining fee for any of its tenants joining NCUL. Just note that you are a Milecastle Tenant on your application form and we'll collect your membership fee direct from the Housing Association.

Would you like to become involved in running the credit union? You can offer yourself for election to the Board, or the Credit Committee or the Supervisory Committee. But there are lots of other jobs to be done as well.

Our Credit Control team work closely with the credit committee. They monitor overdue loans, and pursue them by telephone and with visits.  If necessary, they take legal action.

Visits are made in pairs and we need both men and women volunteers in this role.

We depend on grant funding at present, but we have just one person working on fundraising. Ideally a small team is needed to look for opportunities, complete applications, monitor grant-spending and write reports for the funders.

The Credit Committee decide on loan applications.  They meet 2-3 times a month and work according to strict rules.  At least three people must be present when deciding a loan.

 They also over­see the local loans officers.  Loans officers have the power to make loans up to £1000.

The Supervisory Committee is our internal audit.  They cover every­thing from passbook checks to monthly bank reconciliations, and also oversee loans made to Board members. We need at least three people on this Committee.  If you are independent-minded and have some knowledge of audit or accountancy, this is for you.

Northumberland Credit Union Ltd is a co-operative encouraging saving and providing low cost loans to members. Membership open to anyone living or working on Common Bond area, which covers the whole county of Northumberland

When will we get a dividend?

Back in June 2005, our Treasurer, Ian Hutton, reckoned that we needed about £300 per month in clear income to cover costs, without any paid staff. 

Since 2005, fees and other costs have gone up. And, we do need a few hours per week of paid help in the office, including help with the accounts.  We currently make over £400 per month from loan interest but only about £3 per month in bank interest, and this covers about 45% of our operating costs, the rest comes from grants.

So, sorry, no dividend for some time yet.  The answer lies in loans. The more and bigger the loans, the more we make in loan interest.