WELCOME lOAN
A welcome gift for our first-time borrowers.
Whether you’re an old or existing member, get a reduced interest rate for your first loan with MFCU.
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Welcome Loan Features
Variable Interest Rate starting from 7.99%
Borrow starting from €10K-€75K
Spread Payments over 1-10 years
Why take a Welcome Loan with MFCU?
End to end online loan process
Take benefit of our new online loan process. Apply for a welcome loan within minutes from our website.
Reducing Balance Interest
The interest is calculated on a reducing balance. This means that your interest repayments will decrease as your loan amount decreases.
Flexible Repayment Schedule
Choose between weekly, fortnightly or monthly repayments.
No extra charges for early repayments.
Loan protection insurance at no extra cost * (T&C)
Get a built in insurance with member first credit union welcome loan. (Designed to protect your dependents in case of extreme circumstances).
Welcome Loan Special Interest Rate
The welcome loan with MFCU comes with no hidden costs or charges. You won't need to pay any deposits or lump sum payments.
Quick 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
WELCOME LOAN REPRESENTATIVE EXAMPLE
|
LOAN AMOUNT |
€10000 |
|
VARIABLE INTEREST RATE |
7.99% (8.30% APR) |
|
MONTHLY REPAYMENTS (10 Y) |
€121.27 |
|
TOTAL INTEREST PAYABLE |
€4552.97 |
*APR = Annual Percentage Rate. Normal lending criteria, terms and conditions apply.
REGISTRATION
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Other Loan Products
Click here for Welcome Loan Terms and Conditions
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If you are already a member, and you want to register for online access, click the link below to get started.