Frequently asked questions


What is a Credit Union?

A Credit Union is a Financial Co-Operative which typically provides straightforward financial services such as loans and savings. A Credit Union is also a mutual organisation which means there are no shareholders so it is owned and run by its members. There are Credit Unions all over the world and Leeds Credit Union is one of the largest Credit Unions in the UK.

Who can join Leeds Credit Union?

Every Credit Union has a ‘common bond’ which is usually an area that a specific Credit Union operates in. Leeds Credit Union is open to anyone who lives or works in Leeds, Wakefield, Harrogate or Craven. We also have a number of partnerships with various companies around the UK which means employees or housing residents of those associations are able to join too; regardless of where they live.

To see a list of who can join Click Here

What does Leeds Credit Union offer?

By joining Leeds Credit Union, you become a member, with access to all of Leeds Credit Unions products and services. This includes instant access savings accounts and access to affordable credit, children’s savings accounts, bill paying / budgeting accounts, and more.

If you join via your employers Payroll Deduction Scheme, you can save straight from your wage with all administration dealt with between your employer and Leeds Credit Union, leaving you hassle free, safe in the knowledge your savings are building up.

To check if your current employer is on board, Click Here 

How do I deposit into my Leeds Credit Union account?

Deposits can be made in the following ways:

  • Direct Debit
  • Standing Order
  • Payroll Deduction
  • Bank transfers
  • Cash in branch

To request a Direct Debit form, click here (LINK to contact form requesting DD form)

For Standing Orders and one off bank transfers, use the following details:

Sort Code: 20-32-48  

Account Number: 23677117

*You must also quote your Membership number as your reference- failure to quote this reference may result in your funds being delayed and you may be asked to provide proof of payment*

How do I withdraw from my Leeds Credit Union account?

You can use our online banking service to transfer funds to an external bank account. Withdrawals are made by Faster Payment which means funds will be in your bank account within minutes. This can be done 24 hours a day, 7 days a week including Bank Holidays.

Alternative – If you live in Leeds or Wakefield, we can transfer funds at one of our branches at specific transfer times. Funds are only processed on working days and not weekend or Bank Holidays.

Click here to find a branch.


Does it cost anything to join Leeds Credit Union?

No, joining and saving is absolutely FREE. It is up to you how much you choose to save. There is an annual £5.00 fee.

To view a copy of our Terms and Conditions, click here.

How do I join?

The quickest and easiest way to apply is to apply via the website. The form is straightforward; we just need to know who you are, where you live and how you want to save.

Click here to complete your Membership Application ONLINE.

If you live in Leeds or Wakefield, you can join at one of our branches. Click here to find a branch. 

What documents will I need to provide to join?

UK - Photo ID and Address ID, or three pieces of Address ID dated in the last three months.

EU Country – Same as above including your passport and Share Code.

Non-EU Country – Same as above including your passport and Residence Card.

Find out more about proving your identity here.


How do I apply for a loan with Leeds Credit Union?

The quickest and easiest way to apply is to apply via the website. The form is straightforward; we just need to know who you are, what your circumstances are and how much you want to borrow.

Click here to complete your Membership Application ONLINE.

If you live in Leeds or Wakefield you can apply at one of our branches. Click here to find a branch.

What is the APR on a Leeds Credit Union loan?

The rates of interest on Leeds Credit Union loans start at 3.9% APR and go up to 42.6% APR. All Credit Unions are capped at a rate or 42.6% APR so you will never be charged more than that.

Credit Union loans present a much cheaper alternative to doorstep and payday lenders who can charge anything up to 1500% APR but we also offer loans for higher amounts at competitive rates.

The amount of interest charged is dependent on how much you borrow and your personal circumstances. The best way to find out how much you might have to repay is to contact us for a personal illustration or, use our loan slider tool as a guide. 

I have applied for a loan and I have not heard anything yet.

Our loans team will assess loan applications on a ‘first come, first served’ basis. We aim to provide a decision within two to three days however, in peak times, it may take longer.

When a decision has been made you will be sent a text, email or a letter.

We do ask that members refrain from contacting us for updates as this can delay the process however, if you are concerned that your application has not been received, call us or email us and one of the team can check for you. You can also ask at your local branch if you have one. Contact us

I have bad credit, can I still apply for a loan with Leeds Credit Union?

Having bad or no credit history can present difficulties for anyone who is trying to get a loan. As a responsible lender, we will carry out a credit and affordability check on all loan applications and the information on your credit file will be taken into account. However, that does not mean that we cannot help. Our credit scoring system is not the same as other banks or buildings societies so we may be more likely to accept your application.

If we decline your loan, we will write to you or send you an email which will explain why.

In some circumstances, we would recommend that members seek further help from a third party such as StepChange or their local CAB. Although Leeds Credit Union is not directly associated with these agencies, we recognise the work they do can be extremely beneficial to people who may be experiencing financial difficulties.

I have been declined for a loan, what should I do?

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