Only members are eligible to apply for loans with North Midlands Credit Union. Not a member? Find out more on our Membership page.

There is no strict time limit on being a member to apply for a loan. Ability to repay the loan is the critical factor. However, the ability to show a build up of savings would be required.

In general, there are no strict amounts a member can apply for as each application is assessed on its own merit and on the ability of the member to repay the loan in full. Loan amounts are dependent on the purpose of loan. Contact our loans department for more information.

NMCU holds a certain amount of pledged shares against every loan granted. The amount of pledged shares varies in accordance with the risk profile of the loan. Each application is dealt with on its’ own merit. You need to show you have the capacity to make repayments as well as having enough left over to live on.

• General Loan 7.9%
• Mortgage 3.85%
• Greenify Home Loan 6.55%
• Cultivate Farm Loan Secured 6.55%
• Cultivate Farm Loan Unsecured 5.25%
• Reduced Rate College Loan 5%

You can find details on any of our loan product pages.

You can find out more on our Loan Protection Insurance page.

Yes, if your employer facilitates a North Midlands Credit Union payroll deduction scheme you can easily switch to repaying your loan by Payroll Deduction. Please contact us for further information.

There are a number of ways to repay your loan:

• Through payroll deduction
• By debit card over the phone
• By direct debit or standing order from your bank account
• In person at any of our 7 branches