Loans
Take out a Loan
If you are a full member over 18 years you may apply for a loan from Muckamore Credit Union through our online loan application.
Why borrow from Muckamore CU
Low interest rates
Borrow smarter with low interest available to all members.
No hidden fees or transaction charges
There are no administration charges, hidden fees or transactions charges.
No early repayment penalty
Pay of your loan faster with no extra costs.
Loan interest rebates
Get rewarded with money back from borrowing with us.
Loan Calculator
Our loan rates are competitive!
Maximum Loan Term :
12.68%
12.68%
12.68%
This calculator is for illustrative purposes only, to give you, the borrower, an overview of the potential cost of borrowing. The Credit Union, or any of its staff, cannot be held responsible for any errors. Please note that this calculator only provides an indicative quote and actual repayments may vary.
What We Require
- Your last three months bank statements
- Your last three payslips
- Details of household income and expenditure
At Muckamore Credit Union we are responsible lenders, and we are committed to ensuring our members ability to repay.
Loan Circumstances
While it is recommended that members save consistently for a minimum of 13 weeks or 3 months before applying for a loan, loans can be granted before this time period at the discretion of the loans committee.
When making a decision regarding a loan the following factors will be considered:
- Purpose of loan
- Ability to make repayments
- Pattern of savings
- Previous loan repayment history
Loans will be issued either by cheque or bank transfer to a member's bank account.
Loans are not permitted to any person under the age of 18.
We reserve the right to refuse any loan application.
Repayment Difficulties
We urge any member with a loan who is in financial difficulty to come and speak to a member of staff, we may be able to help.
Failure to repay your loan will result in an all actions available to Muckamore Credit Union being taken, including Debt Recovery Agencies and Court Action and all associated costs will be added to the outstanding debt.
Death Benefit Scheme
If you take a loan from us then, for a small fee, you are covered by this scheme. Provided your loan repayments are up to date then on your death, your loan balance will be cleared and any shares you have will be paid straight to your beneficiary.
