For most of us borrowing money from time to time is a fact of life. But with so many lenders offering high interest rates, keeping up with loan repayments can be a real problem.

At the Co-op we think it’s right to offer colleagues a practical alternative to payday lending and other sources of high cost borrowing. That’s why we’re partnering with Neyber to give colleagues access to fair and affordable loans that are repaid directly from their salary.

Don’t worry, our two credit unions are still here and will continue to support colleagues with savings and with borrowing. You can find out more about them at Value Credit Union and Co-operative Credit Union.

Neyber loans are available with three fixed rates from 4.9% APR*.  There are no fees, and decisions are quick – usually within two working days. Neyber loans can be used to pay off existing debts, replacing them with a single affordable loan, as well as a general source of affordable borrowing. And because repayments are made through your salary, Neyber can offer loans at much lower interest rates than many high street and online lenders – making repayments more manageable.

Who are Neyber?

Neyber are a financial wellbeing company who help UK employees be better with their money. Through the Neyber Financial Wellbeing Hub, you can also get free access to blogs, podcasts and tools on saving, borrowing, budgeting and much more. If you want more tips about borrowing money, including other sources of fair borrowing like Co-operative Credit Union and Value Credit Union, check out our Co-op Cares factsheets on lifeworks.

Here’s everything you need to know about Neyber loans:

  • Salary-deducted repayments
  • 3  fixed rates; 4.9% APR, 6.9% APR* and 9.9% APR depending on status
  • Borrow from £2,000 to £25,000 for up to 5 years

Visit to find out more and apply.

Or watch these videos from Neyber members talking about how Neyber loans have worked for them:

Note for store colleagues: We know you can’t watch videos in store, but you can watch them on your personal device.

*6.9% APR Representative based on a loan of £7,500, Repayable over 5 Years at an Interest rate of 6.9% PA (fixed), Administrative fees: £0, Monthly payment of £147.42 Total amount payable £8,845.07. Consolidating your debts to reduce your monthly credit payments may mean that it takes longer to repay and the total amount paid may be higher.

Join the conversation! 20 Comments

  1. I’m reading the troubles some seem to be having to get in. This is what I did and it appeared to work first time:
    – go to
    – click on the ‘Let’s get started’ button under the first paragraph of text (next to the smiley women image!)
    – Fill out the ‘about me’ info it then asks for
    – confirm the T&C declaration at the bottom of this (needed to scroll down the window to get here)
    – click on the ‘I’m not a robot’ checkbox and answer the question it gives you to prove you’re not a robot
    – the ‘Submit’ button then becomes active, so clicked on there and was done.
    I then got sent an email to confirm my email address and then I was logged in and able to see all the details and quotes for different loan amounts over different periods.
    I’m doing this on a desktop and I used my Co-op email account, so no where did I have to even add in that I worked for Co-op – it just seemed to know!!
    Realise different devices may be showing different things, but this is what I did and it worked first time. Hope this may help some out…

    • I have tried again, several times, and still in vain, I am wondering if it is to do with me using the branch computer, securities etc?

  2. Just tried to make an account to read a little more about it but am unable to set up an account, it says register but nowhere to do so! suggestions?

  3. The link, sadly doesn’t work. Once you go to “join” it takes back to the home screen.

    • not just me being a dummy then..thanks for confirming it.

    • Hi, did you use the link? if you can email me with details of what’s not worked I can look into it.

      • yup go in via the link brings up the ‘smiley woman’ and the Neyber ‘Welcome to your brand new employee benefit’ but there is nowhere to register, only log in, obviously you have to be registered to log in…

        • if you do get to the register screen as Rai said it takes you back to the home screen……

      • and I have just googled ‘ link’ got the join screen, filled the required fields name, DOB etc and set a password and then there was nowhere to click for send/register/join… I give up!

  4. If we were paid fairly, there wouldn’t be a need for “affordable loans to be repaid from salary”

  5. I highly recommend the co-op credit union. I have used it for years. Plus side being that any savings you have in it are being used to help provide loans to fellow colleagues without profits going elsewhere.

  6. is this as well as the credit union?

  7. One should always shop around for a loan – there are online services that can help find a cheap one by doing soft credit searches. If that fails then by all means use this Neyber outfit. I recently borrowed £7k at 3% with Hitachi. Clearly if you have a terrible credit score then Neyber might win for you, but I checked the other day and my score was 999. Jackpot.

    • Your personal credit score does matter, but how many of us are lucky enough to be 999? not me for sure. Its good to have Neyber as an option which we didn’t have before.

      • I suspect luck hasn’t got a lot to do with Steve’s score, or that of anyone else!

        • Ooh I don’t know Antony, I can think of loads of ways luck has to do with how you’re doing with your finances and whether you’ve been able to avoid debt in your life:
          – Unpredictability of health issues, disabilities, and their impact on your earning potential and ability to work (or your partner’s ability to contribute to the household)
          – Whether you’ve been able to find a partner to share finances with
          – Instability in the job market, the availability of suitable jobs locally and macro-scale changes to pay and employment at the national level.
          – Losses as a result of being a victim of crime, insurance only covers so much!
          – Expensive unforeseen events, i.e. a string of funerals in short succession, a partner turning abusive and needing a hasty exit for your safety.
          – The infrastructure in your area, whether transport and education was readily available.
          – The family and area you were born into, whether employment was available in your local area or whether local house prices have forced you miles away from family and friends for work
          – Whether parents or family or friends have been around or able to lend support in difficult times.
          – What upbringing or education you’ve been exposed to in your younger years that may have had a negative effect on behaviours in adult life beyond your control.

          Not that this is all down to luck alone and individuals can certainly help themselves in some of these areas, but I would argue luck definitely plays some role here. Wealth deceives us into believing that we depend on ourselves only.

          • Credit score is based almost entirely on how you repay and manage debt, and what sort of debt you have. I was recently told if you’ve EVER taken out a payday loan, some mortgage lenders WON’T touch you. Not sure how true that is but I believe it – why would a mortgage company lend you £100k+ knowing that in the past you’ve had to borrow to get to the end of the month? Clearly therefore payday loans will impact your credit score even if you repay them in full in time. Conversely, if you’ve never had debt, your credit score may be very low as there is nothing to base it on! This is rare though because even mobile phone contracts are classed as a credit agreement.

            However, I do dispute that a good credit score has anything to do with luck. Manage money well. Borrow a little. Have a pay monthly phone. Use a credit card and repay in full. Save for a rainy day. Build up good trusted family links so even when you hit hard times you can borrow from them. Never be afraid to ask parents or grandparents to lend money if you’re desperate. Follow Martin Lewis and MoneySavingExpert on facebook and twitter, and sign up for their emails. They are amazing.

            • Sometimes one’s own privilege can indeed be very hard to recognise… and it is also difficult to disentangle luck from skill.

              • “Build up good trusted family links so even when you hit hard times you can borrow from them. Never be afraid to ask parents or grandparents to lend money if you’re desperate” – easy to say when you don’t come from a deprived background. It always blows my mind when people assume family support is just a given. I’ve had to lend money to my parents, not the other way around!

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