Borrowing from Knowsley Mutual

Borrowing from Knowsley Mutual Credit Union has the following benefits:

  • There are no hidden fees or charges
  • We do not charge any penalty if you repay the loan early
  • Our interest rates are capped by the government
  • You can save as you repay your loan
  • All loans include free insurance, meaning that the balance will typically be repaid if you were to die still owing the Credit Union money
  • You can apply even if you have a poor credit history

We offer three loans...



  • Who can apply?
  • Min. amount
  • Max. amount
  • Max. term
  • Credit status

Homemaker loan

42.6% APR

  • Who can apply? Anyone
  • Min. amount £500
  • Max. amount £2,500
  • Max. term 28 weeks
  • Credit status Poor

Saver loan

5.5% to 18% APR

  • Who can apply? Existing members
  • Min. amount £500
  • Max. amount £15,000
  • Max. term 60 months
  • Credit status OK

Instant Plus loan

5.5% to 14.9% APR

  • Who can apply? Must be working
  • Min. amount £1,000
  • Max. amount £15,000
  • Max. term 60 months
  • Credit status Good

Homemaker Loans

When borrowing from Knowsley Mutual Credit Union, you can use a Homemaker loan for any reason.  To be eligible to apply for a Homemaker Loan you must:

If you already have a loan with us, check out the information about topping up your loan.

Saver Loans

Saver loans are based on savings. You need to have saved for a minimum of 3 months before you can apply.

Saver loans help you build up savings while you repay your loan. At the end of the loan term you will have some savings you can withdraw, reducing your need to borrow in the future.

For your first loan you can apply to borrow up to 2x the value of your savings. Once this has been repaid you can borrow up to 3x your savings balance.

For example if you have £250 in savings, your first loan would be a maximum of £500. But your second loan could be up to £750.

You cannot withdraw the savings used to secure the loan until you owe less than what is saved. However we keep the security separate from your additional savings so that you will always have some savings to withdraw when you need to.

Instant Plus Loans

In order to be eligible for a Instant Plus Loan you must:

  • Be at least 21
  • Be in employment
  • Have a reasonable credit score (540 with TransUnion)
  • Meet our common bond requirements (living in Kirkby, Fazakerley, Maghull, Ormskirk, Skelmersdale, Netherton, Litherland, Formby or have a PR8 or PR9 postcode)
  • Not be subject to an Individual Voluntary Arrangement, Debt Relief Order or Bankruptcy.
  • Your can apply to borrow between £1,000 to £15,000