24pete, Author at Northern Community Bank

All I want for Christmas is…some extra money for Christmas.

November 19, 2024 11:58 am Leave a Comment

How many times have you found yourself saying that over the years? The festive season can be a joyful but financially challenging time, with gifts, celebrations, and unexpected expenses piling up.
Even the best budgeters in the world can come unstuck during the winter months. Whether it’s that extra present (or two) for a loved one, unexpectedly being made host of Christmas dinner, or covering higher heating bills during the colder weather. With so many demands on your finances, it’s easy to see how things can begin to snowball as the big day draws closer.
Northern Community Bank is here to not only provide you with extra money for Christmas, but also to ensure you can enjoy the season (and the new year) without financial stress.

5 Reasons why Northern Community Bank should be your go-to Christmas lender

Our £500 Family Loans and Saving Scheme. With our family loan, you can borrow for Xmas expenses and use your Child Benefit for repayments. With a quick online application, no credit check, and decisions within 48 working hours, you could receive up to £500 via same-day BACS payment.
Affordable repayments. Unlike with some lenders, our repayments are designed to be affordable; tailored to your budget and your specific needs. We ensure that repayments are manageable by aligning them with your income, so you can comfortably repay the loan, ensuring you don’t start the new year struggling.
Quick decisions. If time is running out, and you’re feeling severe last-minute purchase pressure, a rapid-fire loan decision can help relieve the stress. Northern Community Bank approvals are typically made, by people, not computers, within 48 working hours.
No early repayment penalties. Nobody likes having loan repayments hanging over their heads. This is why we offer flexible repayment options designed to fit your budget. With no early repayment penalties, you can pay off your loan when it’s convenient for you, without any added stress.
Our Christmas Savings Account. We know Christmas 2024 isn’t here yet, but that doesn’t mean we can’t start planning for Christmas 2025. With Northern Community Bank’s Christmas Savings Account, withdrawals are limited to November and December, so your savings are kept safe until then. You can join at any time throughout the year, and when the time comes, you can access your funds through BACS transfer or cash.

What should I do if I need more information?

If you need more information simply contact our team today. We’re here to answer all your questions and help you find the best solution for your festive finances. Whether you need extra money for Christmas or advice on starting your savings for next Christmas, Northern Community Bank is here to support you every step of the way. Don’t wait – let us help you make this Christmas the best one yet.

Have yourself a merry little Christmas – with Northern Community Bank’s Xmas loans

11:16 am Leave a Comment

Xmas loans might not be at the top of your Santa wish list, but for those needing a little extra cheer to make the season sparkle, they could help take the pressure off your festive plans.
There are many reasons someone might need an Xmas loan.
It could be to make a special person’s wish come true with the perfect gift. It could be to create unforgettable memories with a holiday trip and some winter sun. Or even simply be to deck the halls with boughs of holly.
Whether it’s covering unexpected expenses or creating new traditions, Xmas loans can make this season one to remember – but don’t get tricked into overextending yourself.

Why is Northern Community Bank the place to come for Xmas loans?

When it comes to Xmas loan lenders, there’s definitely a naughty list and a nice list.
While it’s true that some unscrupulous lenders might leave you with a lump of coal in the form of hidden fees and sky-high interest rates, trustworthy lenders are out there, ready to ensure your festive season is filled with joy – not financial stress.
Northern Community Bank is proud to be on the nice list! We offer Xmas loans, big or small, tailored to meet everyone’s festive needs. With transparent terms and low rates designed to support the families who need it most.
And if you’ve left your Christmas shopping to the last minute, don’t worry! We offer quick loan decisions, usually within 48 working hours, provided we have all the necessary information. Repayment plans are always based on affordability, meaning you won’t spend the new year worrying about your finances. Plus, if you want to repay early, there are no early repayment penalties – unlike with many other lenders.
Loan repayments can also be made by standing order or direct benefit payments, such as Child Benefit, Universal Credit, or Tax Credits. And the best part? You don’t need to visit a branch. The whole process can be completed online, either through our Online Accounts Area or via our secure mobile app.

Make Xmas loans a thing of Christmas past

With Christmas present taken care of, we want to make sure Christmas future is just as merry and bright, without the shadow of financial worry hanging over you.
This was the main reason behind the creation of our Christmas Savings Account. A way for families to plan ahead, save securely, and enjoy a stress-free festive season with money set aside just for Christmas.
With this account, withdrawals, which are available via BACS transfer or cash, can only be made in November and December, ensuring your savings are reserved for this special time of year. And there’s no need to withdraw all your money at once either. Any unused funds will automatically roll over to start your savings for next Christmas.

10 things you can do now to save money for Christmas

November 11, 2024 10:20 am Leave a Comment

It seems to come around faster and cost us more every year! If you’re looking to spend less this Christmas without cutting down on the festive cheer, here are some simple, savvy ways to help save money before the season arrives.

Declutter and Sell Unwanted Items

If you haven’t used something in a while, consider letting it go! A wardrobe bursting at the seams or toys you can’t find room for? Clear out items you no longer need and sell them to make some extra Christmas cash. Facebook Marketplace or Vinted are free, popular platforms to help find new homes for your pre-loved items

2. Create a Christmas Cupboard

Pick up festive goodies when you spot early deals and set up a “Christmas cupboard” to store them. It’s a great way to spread the cost and avoid last-minute price hikes! Just keep a list so you don’t end up overbuying.

3. Make a Christmas Budget

Think about who you need to buy for and set a realistic budget for each person. Having a list can make shopping easier, and sticking to your budget means no January regret.

4. Use Cashback Sites

Sign up for cashback sites like Quidco or TopCashback. They’re simple to use, and you’ll earn a percentage back on purchases made through their links. You could earn some extra cash on items you’d buy anyway.

5. Black Friday and Cyber Monday

While the UK’s Black Friday isn’t as massive as in the US, there are still good deals to be had. Keep an eye out for discounts on big items, but make sure to research prices beforehand so you don’t fall for fake “deals.”

6. Sign Up for Newsletter Discounts

While emails can pile up, signing up for newsletters can often net you a discount code right away. If you shop regularly with a retailer, these discounts could really add up.

7. Save Your Loyalty Points

If you use supermarket loyalty cards, save up those points and redeem them closer to Christmas. Many supermarkets allow you to double or triple points for seasonal offers, giving you even more savings.

8. Download a Price Comparison Extension

Tools like Honey and PriceSpy can automatically search for the best price as you shop online. You might find unexpected discounts or codes that give you a better deal.

9. Look for Community Festive Events

From local Christmas markets to free carol concerts, many communities host low-cost or free festive events. Check your council’s website for family-friendly activities that don’t cost a fortune.

10. Start a Christmas Savings Account for Next Year

We know that we haven’t even had Christmas yet, but why not start saving for next year and set up a Christmas savings account? You can pay in as much as you like but can only withdraw from it in November and December meaning you are less likely to keep dipping into it. If you saved £5 a week for a year that would be £260 towards Christmas.

Make your dream a reality with Northern Community Bank’s new locked savings account

October 22, 2024 1:31 pm Leave a Comment

Locked savings accounts may not sound like a place where dreams are made – but Northern Community Bank’s new locked savings account is here to change that.
We understand that everyone has their own unique dream they’re working towards.
It might be something as special as an engagement ring, a new car for a growing family, or even a prom dress to make an unforgettable night even more memorable.
Whatever your dream – big, small, or sentimental – Northern Community Bank’s Dream Saver account can help make them become a reality.
Unlike our other savings accounts, the Dream Saver is a locked savings account. This means you can only access the funds once you have reached your goal, ensuring your savings stay on track. It’s designed to keep you motivated and focused, with every deposit bringing you closer to turning your aspirations into achievements.

I’m not sure how much to save

Starting your savings journey can feel a little overwhelming.
How much should you put away? How often should you make a deposit? When can you expect to reach your goal?
Northern Community Bank’s handy savings calculator takes the guesswork out of savings. It can help you understand exactly how long it will take to save a specific amount, or how much you need to set aside to hit your goal by a certain date.
You can set up a Dream Saver account at any time. Just set your goal, and deposit funds at your own pace. Once you reach your target, simply contact a member of our team to unlock your account and access your savings.
Just like all Northern Community Bank savings accounts, the Dream Saver is free to open and has no hidden or ongoing fees.

Is my money safe in a locked savings account?

It doesn’t matter whether you have £10 or £10,000 saved up. Your money is yours and keeping it safe is our priority.
With Northern Community Bank, every single penny is protected by the Financial Services Compensation Scheme (FSCS) up to £120,000, giving your cast iron peace of mind.
In addition, all savings are covered by a free bereavement fund benefit. In the event of your untimely death, your savings – along with the fund amount – would be given to the person you nominated (subject to terms and conditions).
If you want to learn more about our locked savings account and how it can help you reach your financial goals, please get in touch and one of our friendly team members will be happy to assist you.

Northern Community Bank is here for you if you need to borrow money for Christmas

11:14 am Leave a Comment

Is it too early to be talking about money for Christmas? It’s never too early to be talking about money for Christmas. Even if you were out and about buying presents in May, there’s still plenty to plan for. Whether it’s Christmas parties, Christmas dinners, or finding that perfect Christmas outfit.

And for those naughty elves who’ll be leaving Christmas shopping until the last minute, keeping your finances in check can stop you from having a snowman-in-the-sun type meltdown. While the festive period is all about magic and memories, money is an inevitable part of it.

Whether you’re wanting to spoil your loved ones, treat yourself to a little something, or have a winter getaway. Let us take the financial stress out of the season, so you can focus on what really matters – eating as much chocolate as possible.

5 reasons why Northern Community Bank’s Family Loan is the perfect stocking filler

No credit checks. Available to anyone in receipt of child benefits, our £500 Family Loan requires nothing more than a straightforward affordability check. The scheme allows you to use part of your child benefit to make the loan repayments. There’s no early payment fees to worry about, so you can pay your loan off as soon as you want.
Fair interest rates. We pride ourselves on offering fair and affordable interest rates, especially when compared to unscrupulous payday lenders, whose sky-high rates go against everything Christmas stands for. Our goal is to support you, not exploit you, which is why our rates are designed to be manageable and transparent, with no nasty surprises.
Save as you borrow. Anyone who borrows from Northern Community Bank is expected to save into a savings account as they make loan repayments. These savings build up and act as a guarantee, while also providing you with a nice lump sum to do with whatever you wish once your final repayment is made. If you want to make sure you’re prepared better than ever for next year’s festivities, why not join our Christmas Club?. Deposits for this are made throughout the year, with withdrawals only possible during November and December. Unlike other Christmas savings schemes, there are no restrictions on where to shop, so you can spend your money wherever you wish
Quick decisions. We may not be able to help you if you decide on Christmas Eve morning you need a loan to do some Christmas shopping. Although we can help you get your finances wrapped up a few days before. Our loan decisions are usually made within 48 working hours. And if successful, payments can be made the same day by BACS.
A lender you can trust. For four decades, Northern Community Bank has been helping families navigate the pressures of Christmas. It’s a wonderful time of year, and nothing makes us happier than seeing our account holders enjoy the festive season. There’s no New Year blues with a Northern Community Bank loan either. All our loans are based on your affordability, ensuring repayments are manageable and tailored to your circumstances.

No need to visit the Northern Community Bank grotto

You’re more than welcome to drop into one of our branches. We’re always happy to help, and we’ll do everything we can to make sure you have money for Christmas. The entire process can also be done online through our Online Accounts Area or via the secure Northern Community Bank mobile app, making it easier than ever to get the support you need.

Let us introduce you to Penny – our new chatbot

October 18, 2024 11:04 am Leave a Comment

Your 24/7 digital helper is here!

We’re excited to introduce a brand-new feature on our website and app that’s designed to make your life easier – say hello to our new AI chatbot – Penny!
We know that sometimes, you might have quick questions about your account – like the date of your next loan top-up, our services, or how certain things work, and now there’s an easier way to get those answers – anytime, anywhere.

What can Penny the chatbot do?

Penny, our friendly chatbot is here to help you with a wide range of queries. Whether you want to know:

How to apply for a loan
The date for your next loan top-up
What our opening hours are
How to access your online account
Information about savings options
Or anything else you might wonder about our services

She’s available 24/7 and ready to help out whenever you need it. Think of her as your digital assistant, always just a click away.

Want to know when you can re-apply for a top-up?

Tell Penny the date of your last loan, and she will be able to give you the date of your next top-up. While Penny can answer a wide range of questions, she is unable to answer any specific questions about your account, such as loan balances, savings balances or payment dates.

How does it work?

It’s simple! You’ll see a chat icon pop up on the corner of the website or the app when you visit. Just click on it, and you’ll be able to start typing your questions straight away. You don’t need to be a tech expert – just ask your question in plain language, and she’ll do her best to give you the information you need. Penny can also understand and reply in a variety of different languages.

If there’s something she can’t help with (she’s still learning!), she’ll point you in the right direction so you can get the support you need from one of our team members.

Why we have introduced Penny

We understand that not everyone can call or pop into the branch during office hours, so we wanted to give you another way to get the help you need, on your own terms. With our chatbot, you don’t have to wait – whether it’s 3 PM or 3 AM, she’s here to help!

Give Penny a try today!

We’re always looking for ways to improve the service we provide, and our new AI chatbot is one more step in that direction. She’s friendly, quick, and ready to assist you whenever you need her.
So next time you have a question, why not give her a try? We’d love to hear what you think!

Money & Mental Health

October 11, 2024 11:50 am Leave a Comment

Everyone recognises that money and mental health are connected. Whether you feel relatively content with your financial situation or you feel like you’re staring at a black hole financially, we all understand that when we experience money problems it affects our mental health.

For this topic we turn to some of the leading mental health and money advice charities and organisation in the UK

How and why do we get into debt

People who haven’t faced money issues, like debt, often wrongly think overspending or using credit recklessly is the main cause. According to the Mental Health Foundation having to adjust to a financial change is the biggest trigger for debt problems and the stress associated

Life changes such as losing your job, mental or physical health problems or separating from your partner can mean that you struggle to pay your household bills

Recognising the signs

The charities Mind and Mental Health Foundation highlighted ways to recognise when money is affecting your mental health and when debt is a problem

Does opening envelopes or interacting with official departments, such as the DWP and benefit services trigger anxiety and panic?
Do you avoid calls from unknown numbers in case it’s a creditor calling?
Worrying about money can lead to sleep problems
Money problems affect your social life and relationships. Sometimes leading to loneliness and feeling isolated
Do you often feel anxious when thinking about how you will manage repayments?

Do you spend money to make you feel better?

There are lots of examples of the vicious money and mental health cycles. Stress leads someone to spend money for relief, but it results in more debt, compounding their stress.

Mind, the mental health charity, provides some practical advice

Tell someone you trust about the warning signs you might be overspending, or signs you’re struggling with your mental health
Don’t save your card details into websites
Delete apps where you usually overspend, or apps which encourage you to spend
If you get tempted by adverts on social media, limit how much time you spend on it
Find ways to delay purchasing. You could tell yourself, “I will buy this tomorrow if I still feel like it then”. You could take photographs of the things you want or write them down in a wish list
Distract yourself with something else that makes you feel good
Consider telling your bank or financial institutes that you have a mental health problem. They may be able to add a note to your file to look out for unusual spending. See this information on telling your bank you have a mental health problem

How do I get help?

If you have an issue that is causing you concern regarding your Northern Community Bank account then we urge you to contact the Community Bank and the member solutions team. The earlier you do this, the more likely we can help you.

Talk to someone you trust too, whether that’s a friend, relative or someone supporting you with your mental health. Talking can help you feel less hopeless and alone, and they may be able to offer a different perspective or signpost to organisation for help.

The Citizen Advice website has an incredible rich section on Debt and Money. Covering everything from debt, budgeting, borrowing, banking to help with gambling problems.

The charity Mind has brought together a list of organisation that may be able to help if you, a friend or family member find themselves in a situation where you cannot afford bills or food here

Martin Lewis, the Money Saving Expert, has produced a Mental Health & Debt guide booklet in collaboration with Mind, Rethink, CAP UK and others. The guide is designed to help those experiencing mental health problems and want to tackle their finances. The free downloadable guide is 44 pages long however you can find a break down of the 5 sections on this page.

Burnley Councillors join Northwest Ambulance staff and Northern Community Bank at Burnley Bus Station defibrillator installation

October 8, 2024 3:04 pm Leave a Comment

A new defibrillator has been installed at Burnley Bus Station through a partnership between Burnley Borough Council and Northern Community Bank. Burnley Borough Council Leader Cllr Afrasiab Anwar and Cllr Jack Launer, joined Shaun Sproule and Dylan Manning from the North West Ambulance Service (NWAS), Les Burrows from Burnley Bus Station and Laura Diffey of Burnley BID at the unveiling. The defibrillator, located on Croft Street, close to the Hackney Carriage taxi rank, was funded through a charitable donation by Northern Community Bank, the not-for-profit credit union that provides savings accounts, financial education and affordable loans to the local community.

In the UK, around 60,000 people have an out-of-hospital cardiac arrest every year and less than 1 in 10 people survive. According to the NWAS defibrillation within five minutes can result in survival rates as high as 70%.

Councillor Jack Launer, Burnley Council’s Executive Member for Housing, Health & Culture said

Burnley Bus Station is the busiest transport hub in the town. On a daily basis the location welcomes residents, students and visitors into the town. It also sits on the pathway of the recently completed Turf 2 Town project, which aims to bring more visitors from Burnley Football Club to the town centre. We are grateful to Northern Community Bank for selecting the location for this vital defibrillator. This life-saving device not only ensures the safety of uses of the bus station and passers by, but also demonstrates the powerful impact of community collaboration in fostering a safer environment for all.

Burnley Council’s partnership with Northern Community Bank highlights the importance of community collaboration in making Burnley a safer place for everyone. I encourage all residents to familiarise themselves with the location and use of this defibrillator, as it could one day save a life.

The Burnley Bus Station defibrillator is registered on The Circuit – the national defibrillator network, which connects defibrillators to NHS ambulance services across the UK. In the North West there are over 8,900 defibrillators on The Circuit and 94,000 nationally. Yvette Browne, NWAS Community Resuscitation Engagement Officer highlighted how vital defibrillators in the community can be

Thousands of families in the UK are left devasted by cardiac arrest every year. Early use of a defibrillator with cardiopulmonary resuscitation (CPR) can more than double a person’s chance of survival. The defibrillator is available for use when calling 999 and the closest available defibrillator will be allocated, anyone can use a defibrillator and is designed for the untrained user.

Lee Banks, Northern Community Bank Development Officer explained why the credit union decided to start this community focused project

At Northern Community Bank’s 2024 AGM we returned £900,000 in dividends to our account holders, who then voted to support the communities we provide ethical savings and loan accounts to with a £20,000 charitable donation to install defibrillators. It has been a privilege to work with the NWAS and partners in the community, like Burnley Borough Council, across Lancashire and Cumbria, to install life-saving equipment. As not-for-profit cooperative we only operate to benefit our members and the wider community.”

You can find the nearest defibrillator location to you by visiting www.defibfinder.uk

Spooktacular Halloween fun: 10 activities to delight your little monsters

October 7, 2024 12:30 pm Leave a Comment

It’s that time of year again! Pumpkins are glowing, witches’ hats are flying, and excited little ghosts and goblins are ready to haunt the neighbourhood. Halloween is just around the corner, making it the perfect opportunity to create magical, spooky memories with your children. From creepy crafts to eerie treats, we’ve rounded up some fantastic Halloween activities that will keep your little ones entertained and excited this spooky season.

Pumpkin party:

What’s Halloween without pumpkins? Head out to a local pumpkin patch with the kids to pick the best one you can find. Once you’re home, let their imaginations run wild with pumpkin carving or decorating. Whether they go for a traditional jack-o’-lantern or something a bit more creative, be sure to supervise and use child-safe carving tools for little hands.
Costume parade extravaganza:

Let your children dress up in their favourite costumes and host a mini costume parade in your garden or home. Why not take it up a notch and invite some neighbours or friends to join in? Capture the fun with photos of their creative costumes – after all, these moments are priceless.
Creepy cookie decorating party:

Add a twist to your spooky snack-making by hosting a Halloween cookie decorating session. Pre-bake simple sugar cookies in fun shapes like pumpkins, bats, and ghosts. Then, let the kids go wild with colourful icing, edible glitter, and spooky sprinkles. It’s a hands-on, tasty way to get into the Halloween spirit!
DIY potion station:

Turn your kitchen into a potion lab! Set up a “potion station” with bowls of different ingredients like gummy worms, jellybeans, fizzy drinks, and coloured juices. Let the children mix their own weird and wonderful potions (just make sure all ingredients are safe to consume!). They’ll love pretending to be little witches and wizards crafting magical brews.
Glow-in-the-dark scavenger hunt:

This year, add a fun twist to the classic scavenger hunt with glow-in-the-dark items. Hide small glowing objects, like plastic spiders, glow sticks, or painted rocks, around your garden or home. Give each child a flashlight or glow stick and send them off on a spooky treasure hunt!
DIY spooky slime:

Kids love slime, so why not make it Halloween-themed? Mix up a batch of homemade slime, and add some spooky twists like glitter, plastic spiders, or googly eyes. You can use Halloween colours like orange, green, or purple. It’s a fun, sensory activity that will keep little hands busy and entertained.
Halloween movie marathon:

Snuggle up for a family-friendly Halloween movie night. Younger kids will love films like “Casper” or “Hocus Pocus,” while older children might enjoy spooky laughs with “Monster’s Inc.” or “Hotel Transylvania.” Don’t forget to pop the popcorn and add a bit of Halloween magic by serving it in themed bowls!
Monster rock painting:

Turn ordinary rocks into spooky little monsters with some paint and imagination. Gather some smooth stones from your garden or a nearby park, and paint them to look like ghosts, pumpkins, or silly monsters. You can place them around your home as decorations or hide them outside for neighbours to find!
Spooky science experiments:

Incorporate a bit of science into your Halloween fun! Try making a bubbling witches’ cauldron using baking soda, vinegar, and food colouring, or create ghost rockets with Alka-Seltzer tablets and water. These simple experiments are not only exciting but also educational.
Skeleton Puzzle Craft:

A fun craft with an educational twist! Get some large sheets of paper and trace your child’s body. Then, help them draw a skeleton inside the outline. Cut out the bones and turn it into a puzzle for them to put back together. It’s a creative way to learn about the human body while having Halloween fun.

Think big with Northern Community Bank’s small loans online

September 23, 2024 9:52 am Leave a Comment

Small loans online are big business for unscrupulous payday lenders who love nothing more than preying on vulnerable borrowers.
Northern Community Bank has a four-decade history of doing the exact opposite. This is why we remain one of the community’s most trusted lenders when it comes to small loans online.
The ‘tide-you-over’ loan service is designed to help you manage life’s unexpected expenses without falling into the debt traps set by payday lenders.
It’s often for an amount of around £500, to be used for managing a small financial hiccup such as a car or boiler repair, or maybe a spot of decorating, or even a short getaway.
The big difference between Northern Community Bank and payday lenders lies in our approach to lending. As a not-for-profit organisation, we’re focused on serving our account holders – not shareholders – prioritising fair lending and financial well-being with transparent terms and an emphasis on affordability.
This is perfectly characterised by our £500 Family Loan and Savings Scheme.

How Northern Community Bank’s Family Loan Scheme works

Our £500 Family Loan and Savings Scheme is the perfect solution for those above-mentioned pesky life expenses. All Northern Community Bank account holders need to do is complete a simple loan application. There is no credit check required, only an affordability assessment. Applicants must be in receipt of child benefit, which will be paid into your Northern Community Bank account. A portion of this will be used for loan repayments, while a small amount will be set aside in a savings account, which cannot be accessed until the loan is fully repaid.
This innovative scheme not only helps cover immediate needs but also encourages better financial habits. In turn, helping you build savings for the future while improving your overall financial stability.

I need my small loans online now – can Northern Community Bank help?

As small loans online are often needed for unexpected emergency expenses, time is usually of the essence. Northern Community Bank wastes no time in making sure the money you need is in your account, sooner rather than later.
Our small loans online decisions, are made by real people not computers. They are usually completed within 48 working hours once we have all the necessary information. And if your application is successful, we can make a same day BACS payment.
We also understand that not everybody has the time to be coming into a branch to fill out loan applications. This is why we provide a convenient online service.
The quick and easy application can be done from the comfort of your living room just using your mobile phone or tablet.
And if you have any questions – about small loans online or anything else loans related – then you can speak to a member of our team through the Northern Community Bank app.

Northern Community Bank puts YOU in the driver’s seat for best car loans

9:19 am Leave a Comment

Searching for ‘best car loans‘ can only mean one thing – new car day could be just around the corner!
Before you release the financial handbrake on one of life’s more expensive purchases, it’s vital you put in some miles on the research front.
And we don’t just mean around what type of wheels you’ll possibly soon be showing off.
From interest rates to loan terms, and potential hidden fees, it’s essential to compare different lenders before signing on the dotted line.
With dealerships offering a one-stop car finance shop, the temptation to have all details handled on site, while your new car sits there winking at you, can be hard to resist.
The problem is that convenience can often come at a cost – sometimes in the form of higher interest rates or less favourable loan terms.
Well, buckle up, because over the next few minutes, Northern Community Bank is going to take you on a ‘best car loans‘ journey that will leave you cruising to a new car deal.

5 reasons why Northern Community Bank is the number one destination for best car loans

Raft of options. Northern Community Bank offers car loans of up to £15,000 meaning you can look at buying your new or used car outright.
Lower interest rates. Community Banks are not-for-profit organisations meaning, typically, we’re able to offer competitive interest rates against traditional lenders or car dealerships. Our primary goal is to serve our account holders, not maximise profits for shareholders.
Speedy decisions. While car finance convenience can be appealing, Northern Community Bank also offers a fast and efficient application process. Decisions are usually made within 48 working hours as long as we have all the necessary information. And there are no set-up or early settlement fees to worry about either.
Tailored repayments. While we do keep the application process as short and smooth as possible, we do take the time to ensure loan repayments are fair, tailored to your circumstances, and won’t put borrowers in financial trouble. Car finance, on the other hand, is often a set monthly price based on the value of the car.
No hidden fees. Car dealerships also often include a range of fees, not advertised, that can inflate the cost of your loan. These could be balloon payments, over-mileage charges, damage charges, or sneaky admin fees. With Northern Community Bank, what you see is what you get. The entire Community Bank model is based around transparency and putting the needs of our account holders first.

Still need some direction?

If you’re still feeling a little confused or would like some more information on best car loans, don’t hesitate to get in touch. Navigating the world of car loans and finance options can be overwhelming, but we’re here to make the road as smooth and obstacle-free as possible.
Ring 01282 691333 or talk to us via the messaging option on the Northern Community Bank app. Don’t worry, we’ll have you on the road in no time at all.

Save as you borrow at Northern Community Bank

September 17, 2024 11:16 am Leave a Comment

What is save as you borrow?

The Community Bank ‘Save as you borrow’ scheme is something that sets ourselves apart from other mainstream lenders. All of account holders are required to build savings whilst repaying loans.

These savings will act as collateral against your loan, but will also develop into a rather handy nest egg limiting the need to borrow in the future. Creating a better financial future for our account holders is incredibly important to us at Northern Community Bank and encouraging better saving habits goes hand in hand in achieving that.

Recent research by the Fairbanking Foundation shows that 92% of survey participants found it “helpful” being able to save at the same time as paying off their loan. In addition to this 67% of ‘Save As you Borrow’ users who had no savings. Many who found it impossible to put money aside, now have plans to save regularly as a result of the ‘Save As you Borrow’ scheme.

The save as you borrow scheme not only helps our account holders, it also facilitates the way Community Banks work. As although the money you save is secure in your account; behind the scenes we pool all the savings. It is from this common pool of savings that we issue loans at affordable rates to account holders. Choosing to save with Northern Community Bank means that you are helping local people in your community. It’s literally people helping people.

How does the save as you borrow work?

Save as you borrow works by ensuring our account holders put a proportion of money in to their Long Term Savings Account in addition to making loan repayments. For a Standard Loan we require a minimum of £20 per month. For Payroll Plus Loan we require £10 per month and a Family Loan consists of £8 per month. This money cannot be accesses until the Long Term Savings balance is above the loan balance. When this happens you can withdraw the difference. Otherwise these savings are made accessible once the loan balance is fully repaid.

As well as our Long Term Savings account we have a range of free to open savings account that you can make deposits into. Our savings accounts include Christmas Savings account, Instant Access account, Dream Saver or Young Saver. Most of these accounts allow you to withdraw throughout the year at any time. The Christmas savings account is locked until November and December. The Dream Saver is also locked until you reach your savings goal.

So whether you are looking to save or borrow – Northern Community Bank are on hand to help. Apply online and we’ll do the rest.

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Long Term Savings

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Northern Saver

Fixed Term Savings

Christmas Savings

Dream Saver

Young Saver

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Save the Change

Family Loans

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Christmas Loans

£500 Family Loan

£750 Payroll Loan

Home Improvement Loan

Wedding Loans

Holiday Loans

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