Loan Conditions
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Manchester Unity

Credit Union Limited

Oddfellows House, 184-186 Deansgate

Manchester M3 3WB

Telephone: 0161 214 4629 Fax 0161 214 4628


Manchester Unity Credit Union Ltd is authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority,

Reg No 213401

Loan Conditions

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 from the Download Forms page.

*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 £270 (3 times your savings). You will have to repay this at £23.99 per month plus the minimum saving of £5 per month, a total of £28.99per month for twelve months.

The total interest you pay is £17.88.

* From 1st October 2008, members of at least 2 years Oddfellows 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.

Updated 12-02-2015