- How to Apply
- Our Payroll Partners
- Terms & Conditions
If you needed some emergency funds, say for unexpected car repairs or a broken down boiler, where would you turn? Our handy low-cost Flexi Credit gives you fast access to a pre-approved credit limit, when you need it most. It’s also cheaper than most arranged overdrafts these days.
- Credit limits from ?500 to ?2,000
- 19.6% ount you withdraw)
- Fixed repayments
- No hidden fees, charges or repayment penalties
You can apply for Flexi Credit online, over the telephone, by email or at a branch. Your employer must be one of our Payroll Partners and you must pay us by payroll deduction.
All loans provided by HEY Credit Union are subject to status and our lending policy. The Credit Union reserves the right to decline any application or offer a loan that differs from those advertised.
You must be: a) employed by one of our Payroll Partners (a list can be found on our website), b) a member of HEY Credit Union, c) aged over 18. New members must have made at least one regular payment via payroll deduction before a loan application can be considered.
As part of the application processing we may ask you to provide proof of regular income such as a recent bank statement and/or pay slip.
Yes. As a responsible lender we will check your credit history with a Credit Reference Agency to help us make our lending decisions.
Any time you wish to. Simply telephone, email or send us a message on the web App to request a Flexi Credit Withdrawal and we will transfer the funds to your bank account the same or next working day.
Repayments are calculated based on your credit limit and will stay fixed no matter how much you withdraw from your Flexi Credit account. This will be reflected on your Credit Agreement.
We don’t request a repayment while your credit limit remains untouched. Once you make your first withdrawal, we will request a repayment by payroll deduction.
As you will still be liable to make your repayments, you will need to select an alternative method of payment such as bank standing order or Direct Debit.
There is no maximum term as this is a revolving credit account. The account will be subject to review every 2 years and you will be able to apply for a new Flexi Credit Agreement. We reserve the right to withdraw the facility at any time.
Get in touch with our Member Solutions team to discuss a reduced payment plan. Failure to keep up repayments could have a serious effect on your credit report.
1) The Borrower declares that in consideration of the Lender advancing to them the sum of referred to in the Loan Agreement (“the loan”).
2) The Borrower AGREES to repay the loan to the Lender and pay interest on the unpaid balance of the loan at a rate of 1.5% per calendar month (% APR).
3) The Borrower AGREES to make regular payments as set out in the Loan Agreement to the Lender. These payments will continue until the loan and any interest on the loan due to the Lender have been repaid in full.
4) The Borrower has the right to settle the Loan early at any time by paying in full the balance of the loan and any unpaid interest outstanding. The Lender will, on request, provide the Borrower with a written statement of the sums which have been paid and which remain outstanding under the Agreement.
5) The Borrower AGREES to inform the Lender immediately of any material change in their financial circumstances which ple, current employment ceases) or of any change in their address.
6) If the Borrower fails to pay any amount due to the Lender under this Agreement, or breaches any of its terms, the Lender has the right to demand early repayment of all of the balance of the Loan outstanding, together with any unpaid interest.
7) The Borrower AGREES to be liable for all costs, charges or expenses of whatever nature of recovering any sums due under this Agreement.
8) The Borrower AGREES that if they default on their repayments, information about their loan may be passed on to the Department for Work and Pensions for their consideration of deductions from the benefits that they are or will become entitled to.
9) The Borrower ASSIGNS to the Lender all paid shares held now or in the future in the Credit Union, as security for payment of the Loan and for interest or expenses which may be due and authorises the Lender to apply any or all such shares towards payment of the Loan, interest or expenses which are owed.
Credit decisions and also the prevention of fraud and money launderingWe may use credit reference and fraud prevention agencies to help us make decisions. A short guide to how both we and the credit reference and fraud prevention agencies will use your information is detailed in the leaflet called: A condensed guide to the use of your personal information by HEYCU and at Credit Reference and Fraud Prevention Agencies. If you would like to read the full details of how your data may be used please visit or phone 01482 778753 or ask one of our staff. By confirming your agreement to proceed you are accepting that we may each use your information in this way.