From application to funds, in four steps.
Applying for an MCU loan is straightforward. You don't need a spreadsheet or a solicitor, just your ID, your address and a sense of what you can afford to repay each month.
- 01
Be a member
You need to be a member of MCU, aged 18 or over, before you can borrow. Joining takes about ten minutes and your £5 share starts your savings on the same day.
- 02
Pick a loan product
Six products. The rate falls as your relationship with us grows — from 3% / month on the Starter Loan down to 0.5% / month on the Premier Loan, all on the reducing balance.
- 03
Apply online or in person
Sign in to the member portal and fill in the application. You'll upload supporting documents in the same flow (ID, address proof, recent payslip or benefit letter). Or bring printed copies to Peel Road on a Saturday.
- 04
Receive your decision
Applications are reviewed by our Loans Officers, with larger applications going to the Loan Committee. We share a pre-contract credit disclosure before you sign anything.
Have these to hand.
Most applications are held up by missing documents. Get these ready before you start and you can complete the form in one sit.
- Your Member Number (on your share statement, or ask us)
- Photo ID — passport, driving licence or biometric residence permit
- Recent address proof — utility bill or bank statement from the last 3 months
- Income proof — three recent payslips or a State Benefit / pension letter
- Bank account details — sort code and account number for receiving funds
- A rough idea of the amount and term you'd like
Start your application in the member portal.
Or come and see us at Ragnall House, 18 Peel Road on any Tuesday or Saturday morning.