Loans - M4Money Credit Union


As a rule of thumb we will lend you three times what you have saved in your basic savings account up to a maximum of £10,000 above the level of savings in this account.

These are the reasons why members love our loans (see below for the full product list):

  • Interest rates are fixed for small loans up to £500 at a maximum of 3% per month of the outstanding balance which is 42.6%apr. However because you only pay interest on the declining balance you pay a maximum of 24% interest.
  • For loans between  £500  and £3,000 the interest rate will be 2% per month of the outstanding balance which is 26.8% apr.
  • As the size of the loan increases then interest rates for larger loans decreases and may go down to as little as 9.4% apr.
  • We make no charge for arranging the loan or for credit checking.
  • We make no charge for the early repayment of loans or for making additional payments to your loans.
  • You can repay your loans over up to 60 months.
  • We can make loans payable to you or a third party.

All our loans are subject to our loan policy and the loan amount is also subject to your ability to repay your loan. Check out our loan products below.

How to apply

Complete the M4M Loan Application form and hit the ‘submit’ button.

If you have already set up your online account, you could apply when you log into your M for Money online account.

Child Benefit Loan

All parents can now apply for a £500 loan straightaway if Child Benefit payments are made into your credit union account. Borrow £500 and repay it over up to 50 weeks.

Payroll Deduction Scheme

Anyone who works for an employer who has a partnership agreement with us is eligible to apply for this loan straightaway.

Saver loans

Regular savers may apply for a loan after three months of saving. As a rough guide you may borrow up to three times what you have in your savings repayable over up to 60 months.

Homeowner Loans

Homeowners with equity in their property can get loans of up to £3,000 with just £300 in savings, at a 50% discount, on the standard monthly interest rate per month.

Keyworkers loans

If you are an NHS, Council, Emergency or School staff, you qualify for a keyworkers loan. A loan of £1,000 is repayable over up to 60 months at just 0.5% per month interest.

Transport loans

If you are looking to buy a new motorcycle, push-bike, car or even a travel card, why not take advantage of our transport loan? Borrow up to £5,000 that is repayable over up to five years (60 months) where the Interest rate varies.