Welcome Loan

For your first loan

Borrow from £150-£700 at 42.6% APR

South Manchester Credit Union
South Manchester Credit Union
702 Google reviews
Mark Sarginson
Mark Sarginson
08/02/2024
Carnt praise these enough have dealt with the same lady EMILY who has been absolutely amazing and so patient with me Carnt thankyou you enough EMILY you are a true angel thankyou x
David Yearley
David Yearley
05/02/2024
Have been with SMCU for over 10 years and always had a really helpful and pleasant experience. SMCU have really helped me out being able to save and refinance loans really easily to help me manage my finances and pay for things around the house when needed. Highly recommend SMCU amazing!!!
Ayesha Warwick
Ayesha Warwick
29/01/2024
Friendly staff, easy forms and fast payouts. ☺️☺️
Holly Loretta
Holly Loretta
25/01/2024
Staff are always so helpful
angel30277
angel30277
22/01/2024
Great service fantastic representative no beating around the bush
Lila Tome
Lila Tome
21/01/2024
A massive thank you to Sheenagh, Aimee and all the staff for the smooth handling of my case, for the speed response and prompt action. Great costumer care🙏🙏🙏😊😊😊😊😊
Mfonobong Uko
Mfonobong Uko
19/01/2024
Thank you South Manchester for your prompt replies and smooth advice throughout the discussion towards securing a loan. I greatly appreciate. Special appreciation to Sheenagh and Aimee for their prompt response.
Peter Kinlock
Peter Kinlock
17/01/2024
Miles better loan apr than banks decision in days and affordable repayments what’s not to like there a godsend I’d recommend anyone looking to borrow a small loan and save at the same time
Stacey Bradley
Stacey Bradley
12/01/2024
Brilliant service
Kath Green
Kath Green
09/01/2024
Very quick at responding to me.and very helpful 👍 thank you 😊
South Manchester Credit Union
South Manchester Credit Union
702 Google reviews
Mark Sarginson
Mark Sarginson
08/02/2024
Carnt praise these enough have dealt with the same lady EMILY who has been absolutely amazing and so patient with me Carnt thankyou you enough EMILY you are a true angel thankyou x
David Yearley
David Yearley
05/02/2024
Have been with SMCU for over 10 years and always had a really helpful and pleasant experience. SMCU have really helped me out being able to save and refinance loans really easily to help me manage my finances and pay for things around the house when needed. Highly recommend SMCU amazing!!!
Ayesha Warwick
Ayesha Warwick
29/01/2024
Friendly staff, easy forms and fast payouts. ☺️☺️
Holly Loretta
Holly Loretta
25/01/2024
Staff are always so helpful
angel30277
angel30277
22/01/2024
Great service fantastic representative no beating around the bush
Lila Tome
Lila Tome
21/01/2024
A massive thank you to Sheenagh, Aimee and all the staff for the smooth handling of my case, for the speed response and prompt action. Great costumer care🙏🙏🙏😊😊😊😊😊
Mfonobong Uko
Mfonobong Uko
19/01/2024
Thank you South Manchester for your prompt replies and smooth advice throughout the discussion towards securing a loan. I greatly appreciate. Special appreciation to Sheenagh and Aimee for their prompt response.
Peter Kinlock
Peter Kinlock
17/01/2024
Miles better loan apr than banks decision in days and affordable repayments what’s not to like there a godsend I’d recommend anyone looking to borrow a small loan and save at the same time
Stacey Bradley
Stacey Bradley
12/01/2024
Brilliant service
Kath Green
Kath Green
09/01/2024
Very quick at responding to me.and very helpful 👍 thank you 😊

Bills, holiday, home improvements, whatever you need

Spread the cost on terms that suit you

Bills, holiday, home improvements, whatever you need

Spread the cost on terms that suit you

Loan Calculator

How to apply

There are now two ways to apply online

Online form

New members can use our simple online application form to apply for their first loan

All we ask for is some basic information, and we’ll be in touch within one working hour to fill in the rest – it’s that easy

Mobile messaging app

All members can use our secure mobile messaging app to complete a loan application

You can complete the full form and all our ID checks all in one place. Don’t worry, all messaging on our app is encrypted, so your personal documents and data are all safe and sound

How to apply

There are now two ways to apply online

Online form

New members can use our simple online application form to apply for their first loan

All we ask for is some basic information, and we’ll be in touch within one working hour to fill in the rest – it’s that easy

Mobile messaging app

All members can use our secure mobile messaging app to complete a loan application

You can complete the full form and all our ID checks all in one place. Don’t worry, all messaging on our app is encrypted, so your personal documents and data are all safe and sound

Want to borrow more than £700?

Check out our Loans Hub for more information on which of our loans best suits your needs 👇

Why borrow with us?

We offer competitive interest rates

99% of our Google reviews are 5 stars

Repay with flexible repayments on terms that suit you

Get a decision on your Welcome Loan application within 2 working days

Keep your mind at ease with no fees or charges. Any questions? Just ask

Save whilst you repay and enjoy your savings once your loan is repaid

Why borrow with us?

We are able to offer competitive interest rates. You’ll never be charged more than 3% monthly interest

99% of our 650+ Google reviews are 5 stars, something we are incredibly proud of. Our members show us lots of support and appreciation for the service we provide

Repay with flexible repayments on terms that suit you. We know everyone’s finances are different and there’s no one-size-fits-all approach, so we work with members to find the best possible way forward for your finances

Get a decision on your Welcome Loan within 2 working days. Speed matters and, with our experience, we are able to work quickly to get back to you with a decision and next steps

Keep your mind at ease with no fees, charges, or penalties. If you have any questions about your loan, repayments, or anything to do with your account, just send us a quick message on our secure messaging app

Save whilst you repay and enjoy your savings once your loan is repaid. Everyone who borrows from us saves too, so you don’t have to stress once your loan is repaid. Leave your savings here to access our lower interest loans and continue to save, or enjoy your nest egg and treat yourself

Be rewarded for your loyalty

Access lower interest rates after one year of active membership

Our Saver Loan rewards your membership with a lower interest rate at 26.8% APR and a bespoke credit level

In the words of our members

What to expect

You can apply for a loan right away! Simply fill in our online loan application form and we’ll be back in touch within 1 working hour. We’ll then finish signing you up and guide you through the application process.

Our members most often find repaying through a standing order to be easiest option. If you are employed by one of our payroll partners, your loan repayments can be taken directly from your wages through payroll deduction, so you’ll never have to see the money leave your account. If you’d prefer to call into the office, feel free to pay by cash.

Interest on all of our loans is calculated daily on the reducing balance of your loan. With every repayment you make, you clear the interest accrued since your previous repayment and your interest is then calculated for your next repayment on the reduced balance – the lower your balance, the less interest you pay.

For our Welcome Loan, youcan set your repayment period at as little as 3 months and as much as 12 months. The maximum allowed repayment period increases for some of our other loans.

As a responsible lender, we will run a credit check on your first loan application. Our policy is that we may run a credit check on any loan application. Your application will be assessed based on your credit file, affordability, and your personal circumstances, not just your credit file alone.