Brent Housing Partnership (BHP) is always on the look out to provide appropriate additional services to our residents. The latest service is a formal partnership with Credit Union Brent and Ealing (CUBE) a local credit union.
We are aware that loan companies operate in Brent charging extortionate rates of interest and whilst a majority of our residents are able secure financial services from mainstream banks there are those that could benefit from services provided by credit unions.
CUBE, who has been serving the London Borough of Ealing for many years have now extended their area of operation to include the London Borough of Brent as well.
What are the benefits of credit unions?
Anyone that lives or works in the London Boroughs of Brent or Ealing can join the credit union provided that they show proof of address and ID.
CUBE has a number of savings accounts to assist its members in budgeting.
CUBE loans are completely fee free. We charge nothing for arranging the loan, credit checking or early repayment. Interest rates on our loans are fixed at a maximum of 2% per month of the outstanding balance but may be as little as 0.75% per month. We only charge interest on the outstanding balance of the loan so for example the interest that we would charge on a £1,000 loan repaid over 12 months would be £134.
Our member's savings and loan accounts are covered by loan protection and life savings insurance. This means that in the event that a member dies, any outstanding loan will be repaid and their savings will be enhanced by up to 100%.
How to apply
Complete the 'New member application' form from the CUBE webpage and send back to them.
For any queries or if you need any further information please contact CUBE: