Kitchen Extension
from €195.58 per week
MFCU
welcome loan
for our first-time borrowers
This is our welcome gift for our first-time borrowers. Whether you’re a new or existing member, get a reduced interest discount rate for your first loan with MFCU.
Promotional Interest Rate of
7.99%
Borrow from
€1.5K – €75k
Spread
Payments over
1-10 yrs
Monthly repayments
on your MFCU Welcome Loan
| LOAN AMOUNT | €10,000 | €25,000 |
| APR | 8.3% | 8.3% |
| MONTHLY REPAYMENTS (5 years) | €202.72 | €506.79 |
| TOTAL COST OF CREDIT | €12,162.97 | €30,407.41 |
HOw to apply
Apply online
Apply Online
To apply online, you firstly need to login to your MFCU account on our website or mobile app.
It is important to note that your account must have fully up-to-date proof of address and ID before applying for an end-to-end loan.
Loan Documents
Loan Documents
As part of this process you will need to upload documentation to support your application, please ensure you have your proof of ID and some recent payslips ready before continuing.
You must decide your preferred terms of the loan such as payment frequency and loan period before uploading relevant documents.
Loan Decision
Loan Decision
An MFCU loans officer will contact you by phone in regards to the application. If approved, you will then have to sign your credit agreement on your online account.
Funds Drawdown
Funds Drawdown
Once the credit agreement is signed, the loan funds will be transferred straight into your bank account.
Loan Calculator
Please note: Loan calculator figures are for illustrative purpose only.
Repayment figures for your loan may differ for each individual application.
Benefits of an MFCU welcome loan
- Discounted interest rate
- No hidden fees or costs
- Early repayments with no penalties
- Flexible repayment options
- Loans up to €75,000
How to qualify
for an MFCU Welcome Loan
MFCU members, long-term members or newly joined, can qualify for a MFCU Welcome Loan and borrow at a reduced interest rate for your first loan with MFCU. Become a member today to qualify for an MFCU Welcome Loan.
We’re excited to announce a special offer – Starting May 1st, 2024, when you reactivate your closed or dormant account with us, you’ll unlock exclusive access to our Welcome ‘Back’ Loan.
What’s more? You’ll enjoy this loan at a discounted rate, regardless of your previous borrowing history with us. It’s our way of saying thank you for choosing us again. Don’t miss out on this fantastic opportunity to seize great savings on your next loan!
FAQ
How much can I borrow on a welcome loan?
With an MFCU Welcome Loan, you can borrow between €1,500 – €75,000. Spread the payments over a period of 10 years and enjoy our discounted interest rate of 7.99%.
How long does it take for loan approval?
We aim to come back to you with a decision within 24 hours of receiving your loan application and supporting paperwork. We approve 98% of all loan applications!
Do I have to have an MFCU membership to take out a loan?
Yes, we can only apply loans from MFCU members. With our new digital membership, it’s easier than ever to become a member. Fill in our membership application online today and start borrowing with us!
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Benefits of
mfcu loans
Online loans
Apply for a loan from the comfort of your home.
Reduced interest
Pay less overtime as your balance decreases.
Online Top Up
Quick Loan top up with the MFCU mobile app or desktop.
Full support
We’re always here to help. Call us or use Live Chat.
Loan protection
Built in insurance in case on extreme circumstances.
T&C apply.
Loan Calculator
Check your repayments using our loan calculator. If you’re happy with the repayments, submit your details and we’ll call you back within 24hours to jump start your loan process
we’re here to help
Ask us a question
Online tutorials
Give us a call
Click here for Welcome Loan Terms and Conditions.
Lending criteria, terms and conditions apply.
Member First Credit Union is regulated by the Central Bank of Ireland.
APR is the Annual Percentage Rate of Charge.
WARNING: If you do not meet the repayments on your loan, your account will go into arrears.
This may affect your credit rating, which may limit your ability to access credit in the future.