Here you can see a list of our most Frequently Asked Questions organised by category. If your question is not listed, please feel free to submit a question via our contact form or call us on: 028 2564 9010

The quickest and easiest way to apply for a loan is via our mobile app or website. However, you can also apply via email, in any of our offices or via telephone. For any loan enquiries, please contact creditteam@bccu.co.uk

We normally aim for a 48-hour turnaround on all loan applications. However, during busier periods, this may be extended. Please only contact the credit team about your loan application status if you have been waiting more than 48hours.


In order to borrow from BCCU, you must be a member. However, if you aren’t a member, we can still complete a loan in principle with you. This is where the loans officer will complete a loan assessment on you prior to you joining the Credit Union. The initial loan assessment will include a credit check and access to at least 3 months of your bank statements. If this is something you may be interested in, please contact the credit team.

No, you can borrow from BCCU as soon as you open your account. Following loan approval, you may be encouraged to put some money into your savings on a monthly basis alongside your loan repayment.

With most loan assessments, you will need to provide your last 3 months bank statements as well as consent for us to carry out a credit check. Please note this is a hard search and will leave a mark on your credit report. This allows us to assess both your affordability and credit worthiness. If you’re self-employed you will also need to provide your end of year accounts or tax return. Occasionally the Credit Team may require some additional information depending on the purpose of the loan. However, the loans officer will discuss this on an individual basis.

Where your loan is refused, this will be mainly because of your affordability for the loan or because of previous repayment history with us or with other financial institutions. Our loans officers will try to advise you where possible, what you can do to put yourself in a better position to apply in future. This may include saving with the Credit Union for a period of at least 12 weeks. Where your loan is refused and you are not satisfied with our decision, you have the right to appeal the decision to the Credit Committee using our appeals process.

All of our loans can be repaid by Direct Debit, Standing Order, Debit Card payments and cash lodgement's. You can also make a payment to your loan account via our website.

Yes, you can repay your loan in full at any time without any added fees or charges. You can also make additional repayments to reduce the value of your outstanding loan at any time – again without any additional fees or charges being applied.

No, the maximum amount you can borrow unsecured with BCCU is £50,000 above the level of your savings with us. As our maximum savings cap is £20,000, we can offer unsecured loans up to £70,000. BCCU also offer loans secured by land or commercial premises up to £250,000 (additional amounts may be considered upon request). If this is something you’re interested in, please get in touch with the credit team.

We assess our loans based on a number of factors. We assess your ability to repay the loan by looking at your current income and outgoings to ensure that you can afford the repayments and will also carry out a Credit Check to assess credit worthiness. We also take into consideration your previous borrowing history with the Credit Union.

BCCU adds interest to your loan on a daily basis and this is calculated on a reducing balance. So, as your loan balance falls, the amount of interest you’re paying back also reduces. There are no early repayment fees or charges with BCCU.

As we report to Experian and Transunion, your loan with Ballymena Causeway Credit Union will appear on your credit file. Therefore, failure to keep up with your repayments will affect your credit score. Likewise, keeping up with your payments will have a positive impact on your score.

If you get into difficulty paying your loan don’t panic. At BCCU, we understand that sudden unforeseen changes in circumstances can affect a member’s ability to repay their loan, especially in today’s unpredictable economic environment. Contact our Credit Control Team on 028 2544 7072 as soon as you believe that you may have difficulty meeting your loan repayments and we will try to help in any way we can.  We know that sometimes it is difficult to talk about these issues, so if you find it easier to make that initial contact, you can also email us on creditcontrol@bccu.co.uk.

If you do not wish to join via the app, please phone our office and one of the team would be happy to make an alternative arrangement via phone or office appointment.

A valid photographic ID (e.g., Driving Licence, Passport, Senior Smart Pass) in addition to a separate Proof of Address dated within the last 3 months (e.g., bank statement, utility bill or government agency letter).

All eligible members of the Credit Union can apply for insurance covered under our Death Benefit Insurance Policy. This means in the event of your death, a lump sum of £2,500 will be paid to your family to help with the cost of funeral expenses, thereby easing the financial burden of bereavement. This insurance is deductible directly from your credit union account quarterly, please speak to a member of staff for this year’s premium.

Nobody enjoys talking or even thinking about their own mortality. However, the simple fact is funerals are now extremely expensive and very few people realise the impact funeral bills will have on their lives. In recent years the average cost of a funeral has increased to over £2,500.

Death Benefit Insurance won’t ease bereavement, but it will go a long way towards easing the financial burden your death may place upon your family. BCCU can help take a little bit of the pressure off and liaise directly with the funeral director to handle the invoice, if that is the families wish.

To qualify for death benefit insurance, you must be a Credit Union member and must have joined the Credit Union before your 70th birthday. You must insure you maintain an appropriate balance to cover the cost of the quarterly premiums.

BCCU provides LPLS insurance free of charge to all of our members, this is a perk for being with us.

Loan Protection Insurance is the insurance cover the Credit Union provides on the lives of its borrowing members.

Should an insured borrower die, or (under most contracts) become totally and permanently disabled for any occupation, the insurance cover provides that the loan is repaid in full. If a member who is eligible for insurance cover and has signed the promissory note dies with a loan outstanding, the loan balance is paid in full by the insurer.

You will be informed at the time of the loan application if your loan exceeds the amount covered by the credit unions policy. Under the basic policy death cover ceases on the members 70th birthday. The credit union has the option of extending this age limit to the members 80th birthday by affecting cover under the Over 70 Rider. Disability cover however ceases on the eligible members 60th birthday.

Life Savings Insurance is the life insurance cover the Credit Union provides for its eligible members as an additional incentive for them to save regularly. The amount of insurance benefit to which a member is entitled is in proportion to the mount of savings the member has, and depends on the members age at date of lodgement.



Insurance Cover

Under 55

Every £1 provides*

£1 of insurance

55 - 59

Every £1 provides*

75p of insurance

60 - 64

Every £1 provides*

50p of insurance

65 - 69

Every £1 provides*

25p of insurance

*Up to a maximum of £10,000, shares exceeding this amount will not incur any additional benefit.

Exceptions to this include:

  • lodged after age 70 (though all savings earn the dividend approved at AGM), or
  • lodged whilst not in good health, or
  • Withdrawals after the age of 55 will affect the amount payable as only your minimum balance will be insured.
  • lodged after age 70 (though all savings earn the dividend approved at AGM), or
  • lodged whilst not in good health, or
  • Withdrawals after the age of 55 will affect the amount payable as only your minimum balance will be insured.

A Nomination of beneficiary is an individual over the age of 18 you would name to manage your account after your death. This person would be entitled to any funds in your account and would be in charge of dealing with the closure of the account in the event of your death.

There is only a £1 affiliation fee to join, which is then charged annually on all adult accounts.

A maximum of £15,000* for adult accounts and £10,000* for minor accounts.

*Monthly savings caps may apply.

Choose from Direct Debit, Standing Order, Electronic Funds Transfer, online card payment or call into branch.

Yes, you are required to keep a balance of £20 in your account.