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


Borrow from

€5K – €75k

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

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.


How much can I borrow on a welcome loan?

With an MFCU Welcome Loan, you can borrow between €5,000 – €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!

THE Loan Zone

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

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.

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.