northern_david, Author at Northern Community Bank

Meet the CU Futures – Northern Community Bank’s Martyna sits down with the CU Foundation for Q & A

August 19, 2019 8:18 am Leave a Comment

Northern Community Bank member services officer Martyna recently joined seven other young professionals from various credit unions around the country to start this year’s CU Futures programme. Martyna participated in a Q & A session with the Credit Union Foundation, who in partnership with ABCUL organise and run the exciting programme that aims to develop young people in the credit union movement.

What’s a typical day in a community bank?

“A typical day for me is a busy office environment. All three offices work tirelessly for our members, with requests such as loan applications, opening accounts, deposits withdrawals, or any general queries that members have and a lot more!”

What part of this job do you personally find most satisfying?

“Helping people that need us the most is what I find most satisfying about my job. Community banks are there for its communities and we try and help all types of people, anyone is welcome to use it. I can offer help to the Polish community in my area, or for those not comfortable with the English language.”

What do you like and not like about working in this industry?

“It allows our members to have a financial stability that they deserve, also being treated fairly and equally. Truthfully, I don’t think there’s anything I dislike about this industry.”

How would you describe this job to a child?

“My job is all about helping people. If they need money, they come to us. If they want to save money, they also come to us. I help as much as I can.”

What are you hoping to achieve from the CU Futures course in the next year?

“I want to grow and learn as much as possible in this sector. Northern Community Bank continues to thrive in our community, for me to bring something new and useful to my community bank to add to our growth and better our service to members would be a great personal achievement.”

What advice would you give someone who is just starting off in the credit union sector?

“To further your career, grab any opportunity that is given to you!”

If you had to be shipwrecked on a deserted island, what two items would you want to have with you?

“A boat! It just makes the most sense to take a boat. Preferably something fancy like a yacht, can’t go wrong with a bit of luxury whilst surviving. The second item would have to be a big comfy pillow. Go big or go home right? I need some good sleep to function properly.”

What would your autobiography be called?

‘I’ll do it tomorrow’

Everyone has a good app idea. What’s yours?

“An app to find anything that I’ve lost! That would make my life much easier. For example, my keys, I swear they were on the counter just 5 seconds ago and now they’ve ran off.”

Martyna is a great addition to the team at Northern Community Bank and we are all fully behind her with her CU Futures studies!

Northern Community Bank visit Romania to participate in the FINCare project

August 12, 2019 9:42 am Leave a Comment

Northern Community Bank was recently invited to visit Romania to participate in the FINCare project that connects representatives from the credit union and cooperative movement from Romania, Italy and the United Kingdom to share knowledge and best practice to benefit members.

The FINCare project is organised by UNCAR, the Romanian equivalent of Northern Community Bank’s trade association ABCUL and the Solidarity Lab which concentrates on social enterprise development in Romania. The purpose of the project is to bring the knowledge and experience of the respective movements from the three countries to development the financial education capacity of the credit unions in Romania. Although the focus of the project has been the Romanian credit unions, all participating representatives have seen the benefit of the partnership.

The Romanians and Italians had previously visited the UK in June 2018, where they participated in lectures at Liverpool’s John Moores University and before touring credit unions in the UK. Northern Community Bank welcomed the travelling delegates at our Nelson branch before introducing them to the communities that we serve. British credit unions joined the Romanian delegates in Trento, Italy, in October 2018 to see first-hand the Trentino co-operative model which has gained wide acclaim for its positive economic and social impact upon the area.

David, Northern Community Bank marketing and development officer, who attended the project based in Bucharest believed the experience has been valuable

“The credit union model in Romania is very interesting. From C.A.R. Metropolitan, the largest credit union in Bucharest to one of the smallest we visited named C.A.R. Buftea, there are many similarities with the UK movement. However we were introduced to a number policies and procedures at the 10 credit unions that we visited that could improve the service we provide to members in Burnley, Pendle and the surrounding areas”

The delegates first travelled northwest from Bucharest to the Dâmbovița County where they visited three credit unions, at each the staff explained how they operate and the impact they had on the local community. On the second day the group attended lectures from a number of Romanian credit unions who congregated at the conference in Bucharest and also heard from Iulia Pasa, UNCAR’s Director of Supervisory.

At all the credit unions we visited it was plain to see that member’s needs were the most important factor in the way they operated. They are very good at encouraging saving, whilst highly efficient at lending those savings to the community. It was interesting to see the work the lulia and her team were doing to monitor the credit unions and spot potential risk. Being so proactive meant they could tackle issues that may have a negative impact on the cooperatives.

The party then travelled northeast to the Ukraine/Moldova border to visit two credit unions.

“One of the most interesting branch visits was to C.A.R. Galati, where we were introduced to a forward thinking credit union which is using digital technology to connect to their members. The CEO and Board recognised that to compete with the national banks they needed to offer a full range of services and be accessible”

Northern Community Bank is part of a worldwide not-for-profit co-operative movement that aims to provide access to ethical savings and affordable loan accounts to communities across the globe. By sharing experience with other credit unions we believe it improves the service that we bring to our local community.

Where’s the best place to apply for a personal loan? Northern Community Bank, of course

July 24, 2019 9:12 am Leave a Comment

If somebody had asked you 20 years ago where the best place to apply for a personal loan was, you’d have probably answered ‘bank’.
The world was a lot different 20 years ago though. Burnley FC were nowhere near the Premier League, mobile phones were for playing ‘Snake’ on and Google had just been founded.

Thankfully; time, banking and loans have moved on quite a bit. If you’re wondering where the best the place to apply for a personal loan is nowadays, then Northern Community Bank should be the first name that springs to mind. And one of the main reasons for this is…trust.

Northern Community Bank has provided over £50 million in loans to the community over the past 36 years. As a co-operative our account holders can be assured that loans are designed purely with only their interests at heart and not those of external shareholders.

We know how often people scour the internet looking for the best place to apply for a personal loan. After all, managing money is a stressful experience. It doesn’t matter whether you’re trying to keep up with the bills or you’re after buying something for yourself; money is never far away from our thoughts.

However, searching for the best place to apply for a personal loan does not need to be a stressful experience.

You can apply with us online or call into one of our branches in Nelson, Colne or Burnley. Our highly trained staff are ready to discuss the very best loans and savings account in a confidential and comfortable environment.

Maybe you want this season’s football kit for the family or maybe you’re in the market for the latest Apple iPhone. Maybe with August Bank Holiday just around the corner now is finally the time to start cracking on with that list of jobs you’ve been putting off around the house. From decorating a bedroom to fitting a new bathroom, Northern Community Bank has you covered, with loans of up to £15,000 available.

So the next time you’re sat there – tearing your hair out – wondering where the best place to apply for a personal loan is, log onto www.northerncommunitybank.co.uk or give us a ring on 01282 691333.

Short term loans could be just the answer you are looking for

June 2, 2019 9:02 am Leave a Comment

One of the main things we pride ourselves on here at Northern Community Bank is ensuring our account holders – or potential account holders – walk out of our branches with the best loan or savings accounts possible. When it comes to short term loans, this has never been more essential.

Some households still press the panic button when an unexpected expense crops up – like a failed car MOT or the television going on the blink – and find themselves on the doorstep of a payday lender.

With Northern Community Bank, our short term loans not only offer you a financial lifeline but as an ethical alternative we are confident that our interest rates will be more competitive than most short term lenders.

If you stop by one of our branches in Burnley, Colne or Nelson, our dedicated and knowledgeable staff will be on hand to talk you through exactly why our short term loans could be the answer to your current set of circumstances. Naturally we understand some people like the ease of applying for loans online, which could not be easier with our step-by-step secure online loan application.

A large portion of lenders still prioritise committing people to longer term loans for larger amounts. If you want a new car or an expensive family holiday then of course Northern Community Bank is here to assist, but our main commitment is helping account holders find the right loan at the right time and that’s why, unlike a lot of lenders, we offer smaller value loans. We understand how these smaller sums can have a big impact on a person’s life.

When it comes to repayments – whether it be short term loans or any other type of loan – our priority is the account holder’s peace of mind. The last thing we want is a person overstretching and worrying about their finances, so repayments are tailored to suit you. There are no set up or application fees either.

We know that speed can be of the essence when it comes to short term loans and if you need money fast then you will want to know how long the application process is going to take.

Northern Community Bank aim to arrive at a loan decision within two days, if we have all the information present. However, more often than not this is done within one working day. Once approved the money is transferred straight into your account.

While going through a short term loans application, setting up a savings account may be the last thing on your mind. However, at Northern Community Bank we understand the importance of savings and that is why all account holders are encouraged to ‘Save as you Borrow’ no matter how short or long term.

What does save as you borrow mean? It means that as part of your repayment, a small amount is taken out to build up a savings account ensuring next time that extra expense crops up you’ll most likely be able to help yourself.

Short term loans but long term thinking.

The majority of 20-30 year olds have no savings in the UK

May 20, 2019 9:47 am Leave a Comment

Worrying figures suggest 53% of millennials, aged between 20-30 years olds have no savings in the UK.

The latest figures from the Office for National Statistics (ONS) suggest that over half of millennials in the UK, aged 22-29 have no savings at all in an ISA or traditional savings account. This made Northern Community Bank look at our account holders to see if we were providing young people in our community with access to safe savings accounts.

At Northern Community Bank account holders age 20-30 have £490,000 in savings. The average balance is £450

The Wealth and Assets Survey from the ONS measures changes in incomes, debt and asset wealth among different groups within society. The figures follow national saving levels which show UK households are savings less than they ever have since the 1960’s.The results are worrying for the 20-30 age group as they show that over the past 10 years the rise of non-savers has risen from 41% to the current 53%.

Credit unions have always strived to encourage and nurture savers. At Northern Community Bank we provide free young savers accounts from birth, opened by any guardian, parents, family members or friend to start saving habits early.

For those who borrow from Northern Community Bank we follow the credit union ‘Save As You Borrow’ method. Where people build savings as they repay loans. This helps to build safety nets for when a loan matures or unexpected expenses, such as a car or washing machine break down occurs.

As Northern Community Bank has developed on the past 37 years we have made it easier for young people in the community to save. Account holders can save through direct payments such a standing orders or benefit entitlement from DWP, through payroll deduction from a number of local businesses or with cash in any of our three branches. The secure ‘Online Account’ area is very popular with all age groups but especially those in the 20-30 age bracket who enjoy the ability to watch their savings grow on mobile phones 24/7.

As national saving levels across all ages decrease, we are proud to provide a safe place to save for the local community. Nearly 25% of all Northern Community Bank’s account holders are millennials and that increases month-on-month, with the average 20-30 year old holding around £450 in savings at the community bank.

We are proud of our account holders, especially the millennial savers who are building for the future.

Northern Community Bank celebrates its 37th Birthday today

April 23, 2019 10:15 am Leave a Comment

Northern Community Bank celebrates its 37th birthday today. We started as Nelson Community bank on St George’s Day at St George’s social centre on Vaughan Street.

On April 23rd 1982, a Saver Group was launched with just 15 members and the first collection produced a total of £75 in share savings. Now with well over 6,000 adult members and assets of over £7 million, which includes £6.2 million in collective savings. Offering access to affordable borrowing for the Burnley and Pendle communities is one of the main drivers for continuing to improving the services we provide, since Northern Community Bank was created we have lent out over £50 million to local people!

As NCCU grew from its Vaughan Street base year on year it was agreed the services should be available to the whole of Pendle, and in October 2005 NCCU merged with Colne & District Credit Union to form Pendle Community Credit Union. On the 1st October 2013 Pendle Community Credit Union merged with Burnley Area Community Credit Union to create Northern Community Bank.

Northern Community Bank has seen many progressive developments since it was created. Originally operated by volunteers we have progressed to having 15 paid members of staff who are still assisted by volunteers. The collection points at both St Leonard’s Church in Padiham and Palace House and Woodbine in Burnley are still operated by dedicated volunteers.

2018 saw Northern Community Bank purchased and totally renovated our newest branch in Burnley at 48 St James’s Street situated between Dorothy Perkins, the bustling coffee shops and Banks which line the high street. The new Burnley branch has a purpose built cashier counter, interview room, boardroom and office space. It has already been a hit with current and new account holders who love the town centre location.

Northern Community Bank recently launched the £500 Family Loan and Savings Scheme. The loan is paid with a family’s Child Benefit, with an element used for loan repayment and small amount to build savings and the surplus returned to the account holder’s bank account. The £500 Family Loan has no credit check but keeping up with repayments will help to improve the account holders credit score as Northern Community Bank report to credit agency. The online application is greatly reduced and we aim to have a loan decision and deposit the £500 within 1 working day!

Recognising account holders desire to apply for loans with ease in their own time, Northern Community Bank have again improved the online joining and loan application process over the last year with the introduction of the Join & Borrow platform. The new streamlined online loan application we hope to make applying for an affordable loan quicker, easier and more convenient for new or existing account holders.

For existing account holders the new service will severely reduce the amount of time it takes to complete a loan application. After completing security access, the account holder’s details will be prepopulated, including current balances, eliminating the need to re-enter information. An additional benefit of the new platform is the ability to attach supporting documents to the application, such as bank statement, proof of new address or wage slips.

Northern Community Bank’s savers were paid a competitive dividend of 0.75% again this year. For an instant access savings accounts this is very competitive and holds its own when compared to some ISA and other saving options which have withdrawal penalties.

As a financial co-operative that operates solely for the benefit of the local community we are always looking for ways to improve. If you have any suggestions please get in touch.

As always Northern Community Bank will also strive to push forward and this year will be no different. Thank you for your continued support, Northern Community Bank would not have developed without you – the account holders who own the Community Bank.

ABCUL conference attracts credit unions from across the UK

March 25, 2019 3:46 pm Leave a Comment

Northern Community Bank attend largest gathering of credit union representatives in the UK at ABCUL conference.

The three day conference included the launch of the Young Professional Network and a proud moment as Northern Community Bank Director Mario joined the ABCUL Board of Directors.

The ABCUL conference in Manchester contained a packed schedule for members of Northern Community Bank’s Board and staff in March. The conference brought together 330 delegates, who represented credit unions from across the UK to participate in the workshops and attend plenary sessions designed to help the movement improve the services we provide to our communities.

The conference saw the launch of the ABCUL Young Professional Network. Our chief operating officer Deborah Smith-Hands was part of the steering committee who organised a dedicated programme that ran alongside the main conference which was attended by Northern Community Bank staff members Isaac and Martyna. The network will provide a platform for young professionals to engage and promote the credit union movement. It will also provide an opportunity for young professionals to connect, learn and live out cooperative values, which enables young volunteers and members of staff at credit unions to develop into leaders.

All reported that the programme, which was facilitated by US-based credit union expert Dr Brandi Stankovic, was exceptional and energising – focusing on personal leadership development, coaching and emotional intelligence.

The Young Professional Network is part of sector wide commitment by ABCUL to support young members of credit union staff, complimenting the North West Youth Forum which launched in January.

Deborah Smith-Hands who has been involved in launching both networks, said:

“The networks will bring training and development opportunities for young people working in the sector and a platform for our future credit union leaders to connect with like-minded people. These networks are vital in order to retain young talent in our sector.”

During Saturday’s ABCUL annual general meeting Northern Community Bank Director Mario Arnone was accepted onto the ABCUL Board of Directors. President Gerard Spain described the appointment

“It was an incredibly proud moment for Northern Community Bank when Mario was officially confirmed as our first representative on the national trade association board with his appointment as an ABCUL director.”

Gerard congratulated fellow Board member Mario

“Thank you for showing the commitment to getting involved in this capacity, you will be a very good addition to the ABCUL board and I am sure will make an excellent contribution. It is always good to get additional Community Credit Union representation on the ABCUL board.”

A number of sessions at the conference looked at FinTech companies who are developing software that will benefit credit union account holders by making it easier and faster to save or borrow through technology such as mobile telephone apps.

ABCUL also announced that the year-long CU Futures programme will accept applications for new students from credit unions across the UK. Both Deborah Smith-Hands and Jodie Bastable have completed the course from Pennine, as a credit union we fully support the programme and the benefits it has brought to the movement.

Northern Community Bank praised at 37th AGM by Burnley civic leaders

March 13, 2019 4:27 pm Leave a Comment

Northern Community Bank 37th AGM sees the community bank being praised by Burnley civic leaders for the new branch on St James’s Street.

Account holders recently heard speeches at the AGM, held at Turf Moor, by Burnley Council Leader Mark Townsend and Julie Cooper MP. Both were pleased that the community bank had made a strong commitment to the area by purchasing and renovating the branch on St James’s Street, where residents can discuss their saving or borrowing needs with members of staff.

Julie Cooper MP, complimented Northern Community Bank on opening the new Burnley branch

“Congratulations on the new office, what a great advertisement! It is fantastic to have a high profile town centre office of the calibre Northern Community Bank have achieved. Northern Community Bank’s ethical savings and affordable loans are admiral principles”

Mark Townsend informed the 90 account holders in attendance that he had visited the new branch on numerous occasions and had been impressed with standard of renovation and ethos of the organisation

“Welcome to St James’s Street, you should be proud of your building. The facilities offered by Northern Community Bank are very impressive, you continue to go from strength to strength. Northern Community Bank’s values aren’t just written down, they are being lived every single day!”

Northern Community Bank President Gerard Spain presented a good picture of the credit union’s performance over the financial year. Assets rose 9% to £6.8m, with healthy loan growth for the third successive year by 17%. On behalf of the Board of Directors, Mr Spain thanked CEO Kathryn Fogg for 20 years of service and detailed the phenomenal success under her leadership

“20 years ago we were based at St George’s Church in Nelson, the savings balance was under £600k and the loan book was under £500k. Fast forward 20 years – Northern Community Bank own two branches, hold collective savings of £5.6m and the loan book currently stand at £3.4m.”

The community bank decided a dividend rate of 0.75% on savings, this was pointed out to be well above the UK average instant access savings rate of 0.25%.

Northern Community Bank 37th AGM selected The Rosemere Cancer Foundation for our annual £500 charitable donation. Julie Hesmondhalgh, who represented the Foundation, explained how the money donated would be used to help local families by funding cutting edge equipment, vital research and other cancer services that are beyond limited NHS resources. It does this to bring world class treatment to cancer patients from throughout Lancashire and South Cumbria being treated at Rosemere Cancer Centre, the region’s specialist cancer treatment centre at the Royal Preston Hospital, and at another eight local hospital cancer units across the two counties, including those at Burnley General and the Royal Blackburn Teaching Hospitals.

Are you being ripped off by car finance deals?

March 5, 2019 3:23 pm Leave a Comment

The Financial Conduct Authority (FCA) have found that as many as 500,000 drivers in the UK are over-charged by more than £1000 on car finance deals over £10,000.

The two-year FCA investigation found that many car salespeople were paid commission by banks and their respective finance arms, which were linked to the level of interest charged on car finance deals. Naomi Schraer, Money Saving Expert news reporter explained

The broker can set a higher interest rate for the customer in order to earn more commission, leaving consumers paying an excessive amount. The FCA estimates this could be costing consumers £300 million a year

In the UK it is estimated that 9 out of 10 cars are currently purchased through a car finance deal. The majority of these are through Personal Contract Purchase (PCP) deals, which are similar to traditional hire purchase agreements where the buyer does not own the car but pays a monthly amount and is left to find a large final figure in the thousands to own the car outright or enter into another lengthy PCP ‘deal’ on another car.

BBC business detailed how the PCP model works in the car finance market

Instead of buying a car outright, a PCP allows consumers to rent a car over a three or four-year period. At the end of the period consumers can buy the car for its residual value (known as a “balloon” payment), hand the car back, or roll over the residual value into a new PCP on a new vehicle.

In comparison Northern Community Bank car loans are totally transparent, all loan applicants are charged the same rate of interest and there are no application or set-up fees. Unlike many lenders who advertise temptingly low representative interest rates, which are only offered to 51% of applicants – at Northern Community Bank what you see is what you get.

Of course, dealers will often offer car finance deals on their vehicles and while we can’t guarantee that our terms will be better 100% of the time, what we can say is that it’s worth taking the time to find out.

That’s the challenge Northern Community Bank throw down; if you want to spend more than £3000 on a car, compare the terms offered elsewhere to the terms on a Northern Community Bank car loan , and we’re pretty confident that what we provide will prove highly competitive.

The FCA launched the investigation into the car finance market in 2017 when consumer credit figures rapidly increased, largely due to the PCP deals found at car dealerships. According to James Salmon (Daily Mail) and Emily Hardy (This is MONEY) the FCA’s undercover investigation highlighted the problem of car salespeople failing to make customers aware of the commission they made on car finance deals

Undercover shoppers from the watchdog found just one out of 37 franchised car dealers and four in 60 independents disclosed that any commission was paid. This compares with two in 14 car supermarkets and four in 11 online brokers.

The FCA are assessing the options available to protect car finance customers before intervening in the market. They could strengthen existing rules or look at steps such as banning certain types of commission model or limiting broker discretion on interest rates.

In the meantime if you want a car loan, where the loan term is clearly set out and you know you will be charged the interest rate that is advertised, with no extra commission paid to salespeople – then apply online or contact a member of staff today.

Northern Community Bank secures £50,000 through Lloyds Banking Group Development Fund in 2019

February 27, 2019 1:39 pm Leave a Comment

Northern Community Bank has been awarded a £50,000 grant by Lloyds Banking Group through its Credit Union Development Fund to invest in communities across the region.

This is the second time we have successfully applied for support from the fund, with £50,000 also being awarded in 2018. That grant allowed Northern Community Bank to build on our partnership with SPE Furnishings and contributed to the important development of opening the St James’s Street branch in Burnley.

Chief Executive of Northen Community Bank, Kathryn Fogg explained the positive impact the 2018 grant had on the community bank.

The grant allowed us to create a branch within SPE Furnishings, on Briercliffe Road, and employ an additional member of staff to offer a real alternative to the pay weekly stores. It also helped Northern Community Bank to renovate a recently acquired town centre property. Bringing Northern Community Bank onto Burnley High Street helped to showcase us to the local community as an alternative to high interest lenders

The number of high interest companies operating in the town, which a high percentage of Northern Community Bank’s account holders use or have used, demonstrates the need for the affordable finance and ethical loans which we provide. In the short period Northern Community Bank has been in direct competition to the money, pay weekly and pawn shops we have already seen higher than expected growth.

Established in 2014, the Lloyds Credit Union Development Fund is run in partnership with the Credit Union Foundation. Over the past five years the Fund has awarded 30 northern credit unions with £1.7 million to support members across the north of England.

The Fund is designed to strengthen the financial position of credit unions to enable them to provide much-needed responsible lending to local people and organisations.

Northern Community Bank is proud to be self-sufficient, however the rapid sustainable growth means that the community bank needs to increase financial reserves to comply with regulatory requirements. The second successful £50,000 Lloyds Banking Group grant will be placed into Northern Community Bank’s reserves.

Northern Community Bank CEO, Kathryn Fogg, said

“We are very grateful for the award granted by the Lloyds Credit Union Development Fund. It has provided reserves, enabling us to continue to comply with regulatory requirements following the opening of our new branch in Burnley town centre.”

Lloyds Banking Group Ambassador for the North West, Nick Williams, said

“At Lloyds Banking Group we’re committed to helping Britain prosper, which is why we’re proud to support the Northern Community Bank with this funding and help them make a lasting difference to families across Lancashire.”

The Lloyds Credit Union Development Fund grant for Northern Community Bank forms part of Lloyds Banking Group’s Helping Britain Prosper Plan, as part of which it has donated £1 million a year to community banks since 2014, to better enable community banks to offer affordable loans and savings services to our account holders.

To find out more about Lloyds Banking Group’s Helping Britain Prosper Plan visit www.lloydsbankinggroup.com

Did the hot February make you want garden home improvements?

12:53 pm Leave a Comment

What a difference a year makes! Last February we were bracing the cold weather from the ‘Beast from the East’ – this February we’ve experienced the hottest recorded winter day! The weather has certainly got account holders in the garden making home improvements, we’ve seen a few photographs of bumble bees and lady birds that have ventured out early to watch people fixing up fences, patios and getting the first cut of lawn this year.

The chances are that you start thinking about things like summer holidays, picnics on the beach and spring cleaning. Another thing which tends to happen more once spring has sprung is DIY, from tidying up the garden over the bank holiday weekend in April to undertaking major construction work. If you’re thinking of embarking on a larger scale project, then one of the garden home improvement loans from Northern Community Bank could be the best means of getting hold of the funding you need.

Our garden home improvement loans can be used for anything from fitting new seating areas or sanding and painting the fences in your garden all the way up to building a conservatory. The point is that once the loan has been approved you can spend the money however you wish. This opens up purchasing power which means you can haggle over the price of larger components or pieces of furniture, and take advantage of the savings available when paying cash and buying in bulk. The chances are that you’ll be able to access much better deals than the credit arrangements sometimes offered by retailers, making the most of your available budget and buying the best quality items.

The other major advantage of our garden home improvement loans are the terms on which we offer them. To start with, we do everything in a transparent and up-front manner. The interest rates which you see mentioned on our website and leaflets is the only interest rate we charge. Unlike some lenders, we don’t offer our best rate to a percentage of borrowers and a higher rate to all the others. Similarly, none of our account holders is ever hit with secret charges, fees or other small print.

Perhaps even more important is the fact that we are ethical lenders, working on a not for profit basis. When we set our interest rates we don’t have to think about paying a big bonus to the directors or funding a payout to our shareholders. That’s why we can keep our rates as low as possible, and any money we do make is ploughed back into making the community around us a better place in which to live and work. If you take out one of our garden home improvements loans we’ll only lend you what you can honestly afford to pay back, and we’ll put a percentage of each payment into your savings so they carry on growing as you clear your loan.

We’ve made the process of applying for our garden home improvements loans as quick and simple as possible. Once you’ve given us all the information we need, we’ll reach a decision within two working days and, if it’s at all possible, by the next day. As soon as the loan has been approved, it will be paid into your bank account, leaving you free to spend it when and where you want.

Barclays to close local bank branches

February 18, 2019 3:29 pm Leave a Comment

The Pendle community was left shocked as two Barclays Bank branches are set to close.

A number of Northern Community Bank account holders have reacted with disappointment with the announcement that both Barclays Bank branches in Nelson and Colne are due to close. The majority of our account holders also have accounts at the high street banks and expressed anger at our community losing another set of bank branches.

We have heard from all the high street banks that have left Burnley and Pendle recently that one of the main reasons they are vacating town centre locations is because of account holders increasingly using online facilities. At Northern Community Bank we recognise that for many people to access balances, request withdrawals and apply for loans online is vital and that is why we continue to improve the ‘Online Accounts’ area, however we also understand that many residents still want to be able to speak to a real member of staff face-to-face. It is for this reason we operate three town centre branches within 7 miles, signalling our commitment to serve people in the community with our newest branch opening on Burnley’s St James’s Street in October 2018.

Over the last few years many bank branches have closed in Burnley and Pendle. Santander Bank have recently announced their branch is also to close, which follows the closure of their Padiham branch in 2017; sadly that closure left Padiham with no banks at all.

Barclays closing their branch on Manchester Road in Nelson, means the community have now lost Marsden Building Society, Lloyds, HSBC, who also closed a branch in Morrisons supermarket and Natwest Bank. Northern Community Bank’s blog asked in 2016 whether “we need Banks, Building Societies and Credit Unions on the High Street?” and the overall response from account holders was – yes.

There are some banking issues that many feel need to be addressed in branch. Local bank closures make this very difficult for people in our community. That is why we welcome any Northern Community Bank account holders to pop into our three branches located in Nelson, Colne or Burnley to discuss their savings or loans.

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