My Community Bank Personal Loan


My Community Bank provide personal loans between £1,500 to £25,000 with repayment terms of 12 to 60 months. The APR will be between 5.8% and 25.99% dependent on personal circumstances. There are no arrangement or early repayment fees. If customers change their mind they have 14 days to repay the full amount without incurring any interest.

My community bank is a credit union which covers England and along with two other credit unions, which cover Scotland and Wales, forms part of the My Community Bank Network.

Credit unions operate differently from high street banks; they are non-profit co-operatives which are owned by members for the benefit of members. There is a common bond between members based on where they live or work, or organizations that they belong to. Credit unions use members’ savings to finance members’ loans and may be able to offer a better rate than the high street banks are willing to offer.

For a loan of £5,000 borrowed over 36 months with a representative APR of 9.9% will have a monthly repayment of £160.11 with the total amount payable being £5,764.02.


Loans from My Community Bank can be for any purpose but they will only lend as much as customers can afford to pay back. Applicants loan account is operated online and no paper statements will be sent out.

Applicants can apply for loan online and receive an immediate decision of accepted, referred or declined for the personal loan. If accepted the money will be in customers bank account within one working day. If the decision outcome is referred applicants will be asked for more information, this is because they have passed the minimum required for the credit check and rather than a computer decision a team member will review the application.