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Office hours Monday to Friday 9am - 2pm Leave a message on voicemail at other times, and we will return your call

Loan Calculator and Examples

Once you have been a member for three months, have a minimum number of shares* and you are over 18 years old. You can apply for a loan.

The Credit Committee will look at your savings record and your ability to repay when deciding whether or not to grant a loan.

You can download a Loan Application Form here

*determined by the Manchester Unity Credit Union

Example: If you save £30 per month, after three* months you may apply for a loan up to £450. You will have to repay this at £39.98 per month plus the minimum saving of £5 per month, a total of £44.98 per month for twelve months.

The total interest you pay is £29.76.

From 1st October 2008, members of at least 2 years membership must have saved regularly with the credit union for a period of 3 months. Members of less than 2 years membership will have to save regularly with the credit union for period of 6 months before qualifying.

When your first loan has been satisfactorily repaid and your Shares have increased, you can be considered for larger loans.

Interest is calculated at 1% per month on the outstanding balance. There is no penalty for early repayment.

Your loan is covered by life assurance up to age 80, subject to terms and conditions.