If you are a full member over 18 years you may apply for a loan from Muckamore Credit Union. All you have to do is speak to a member of staff and they will furnish you with a loans form. If you need help filling this form in then staff will be willing to help.

When the loan form is completed it can be passed to a member of staff. You must also furnish us with your last three months printed bank statements and/or Credit card statements. This is because we are responsible lenders and as such we have to ensure you can afford to make your repayments. In addition to this we may decide to do a credit check through Equifax.

We will make loans for provident or useful purposes. We are also willing to make loans for purposes of debt consolidation but it is very important you clear the debt for which the loan was intended. To this end we will, if requested, send cheques straight to credit card companies or HP companies but we will need considerable assurances that you won’t simply rack up more debt. After all the money we lend you belongs to our other members and for every person who decides to default on their loan then they are depriving their friends, neighbours and maybe even their own family members.

We will lend up to £15000 depending on the amount of shares you have (we can lend up to four times the amount that you have in shares). Your loan application will be authorised by a loans committee so please appreciate that it may take a wee bit longer for larger loans to be processed.

We cannot lend money to any person under 18 years of age. We can pay your money straight into your bank account or issue a cheque, which ever is more convenient for you. We seldom ever pay money out in cash but we will consider doing so for small amounts.
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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.