Our Family Loan and Saving Scheme allows members in receipt of Isle of Man State Benefits (or an Isle of Man State Pension) to apply for a loan of up to £500. Arrangements will then be made for part of your Benefit to be paid directly to Manx Credit Union to repay the loan and to start a savings plan.
On a loan of £500 the equivalent of £12.50 a week will be deducted from your Benefit from which £11.50 will repay the loan over twelve months and £1 will be credited to your savings account.
The interest rate cost will be £20.56 for each £100 borrowed over twelve months. To encourage the savings habit the minimum £1 weekly savings can be withdrawn only after your loan is fully repaid.
|
Loan Amount |
Weekly Payments |
Total Interest |
Total Saved |
|---|---|---|---|
| £500 | £12.50 | £102.75 | £52.00 |
Examples given are for illustrative purposes only. A personalised quotation will be prepared for you on application
| Tuesday | 9.45am to 2.15pm |
|---|---|
| Thursday | 5pm to 7pm |
| Saturday | 9.45am to 2.15pm |
Follow us on 
Manx Credit Union Limited is licensed by the Isle of Man Financial Services Authority. Registered No: 000001U under the Credit Unions Act 1993.
Copyright Manx Credit Union Limited, Privacy, Important Information, Sitemap. Website by 3 Legs Ltd
