Credit Unions - Secured Asset Lending

Secured asset finance for credit unions

Start offering secured lending with our fully compliant secured asset lending package.  We can offer you a complete suite of fully compliant documents offering you a ‘ready-to-go’ solution for Secured Asset Finance.

Recognising a need for increased lending options

Outside of the UK, credit unions often meet many of the lending needs of their members, not just the need for unsecured loans.  By offering more than one lending product these credit unions are able to compete with other commercial lenders, such as banks and payday loan companies, and help provide their members with a good rate on a car loan or some form of secured lending.  They provide lending in a way which is compliant, safe, and with sufficient expertise to succeed.  They had to meet the needs of the regulator every bit as much as we would here in the UK.  Their members don’t need to go elsewhere for a good rate on a car loan or some form of secured lending.

Filling a gap in the market

In recognition of this need, we have developed a complete suite of fully compliant lending documents, which provide a ‘ready-to-go’ solution for secured asset finance. 

What the package offers

Our secured asset lending package provides credit unions with an end-to-end service for loan agreements and default processes, along with access to regular legislative and regulatory bulletins.

  • Fully compliant suite of documents
  • Ancillary work – registering the credit unions interest with HPI/due diligence on dealerships
  • End-to-end service for loan agreements and default processes
  • In depth and relevant secured lending expertise
  • Access to regular legislative and regulatory bulletins

The benefits of our package

  • The secured asset lending package provides you with the opportunity to increase your lending portfolio.
  • Fully managed suite of secured asset finance documents
  • Full support and monitoring of the sector to ensure regular updates to documentation and information about services.
  • Managed risk through full default and recovery service.
  • Reduced set up cost as document suite already provides, fit for purpose fully compliant and ready for market.
  • *for secured lending, most loan agreements must comply with the Consumer Credit Act 1974 and appropriate regulations.

What’s included in the Secured Asset Finance package

Our full suite of documents provides you with everything you need to begin offering Secured Asset Finance today.

  • Secured loan application form
  • Loan agreement
  • Contract between credit union and dealership
  • Statutory arrears notice
  • Notice of charges letter
  • Annual statement
  • Default notice
  • Standard covering letters
  • Process map

Contact us to find out more about this market leading solution on Secured Asset Finance.

Meet our experts

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Partner and Head of Recoveries

Corporate and Commercial

Our team of specialist corporate and commercial solicitors work closely with you to achieve your commercial goals. We take a practical approach to business and understanding your business needs. Our expert corporate lawyers not only know the law, but also draw upon their experience to provide you with effective solutions to any given situation. Our team is flexible and has the resources to manage all sizes of transactions and matters for small to medium sized (SME) organisations, as well as large multi-national companies.

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Credit Union Recoveries

Our specialist credit union recoveries team work with both employer-based and community-based Credit Unions across the UK. We primarily deal with the recovery of secured and unsecured lending products, including personal loans, motor finance loans and secured loans on property.

When payment arrangements are not achievable, we work with each Credit Union to assess to commercial viability of legal proceedings and to determine the most appropriate and cost-effective enforcement method.

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