HOW IT WORKS
Once your application is received and approved, we will contact your payroll department and arrange to deduct a regular amount of at least £10 each month from your salary. The funds will be transferred to us so we can place them in a savings account on your behalf. You will receive free life savings insurance and your savings are protected by the Financial Services Compensation Scheme.
How it works – Video Tutorial
By having a savings account with us, you will then be eligible to apply for an affordable loan which is often more competitive than High Street Banks and payday or doorstep lenders. There are no early repayment fees if you pay your loan off early and interest is only charged on the outstanding balance so you will see it decrease as the balance gets lower. We will beat any personalised quote from other loan providers for loans of £5,000 or over and they can be paid back through payroll deduction.
By being a member you can register to have easy access to online balance statements, transfers and loan requests. You can also get quick balance updates by texting us on 80011 or why not download our App? Search for ‘Manchester Credit Union’ in the App Store or Google Play and you can check your balance, make withdrawals or apply for a loan.