First Post Loans
Ordination 1st July 2017 – Applications accepted from 1st May 2017 – First Repayment due 3rd August 2017
Stationing 1st September 2017 – Applications accepted from 1st July 2017 – First Repayment due 1st October 2017
We appreciate that in some denominations ministers will be taking up a first post at different times during the year – providing you have a confirmed post that will commence within 3 months – you can apply.
You will not start actual repayments until you receive your first payment of salary or stipend, although interest will of course accrue in the meantime. If for any reason there is a delay in direct payment from salary or stipend we will contact you to make alternative payment arrangements. Loans are offered at the competitive rate of 5.9% APR, indicative repayments are shown in the table below:
|Loan Value||Monthly Repayment (36 Months)||Monthly Repayment (48 Months)|
We will also accept applications for smaller amounts such as a course of driving lessons or a holiday please contact for rates and repayment terms. A word version of our First Post Loan application form can be downloaded from this page – please do not use our standard application form. Once completed (you may need to activate overtype mode in Word for ease of completion) please email it with your most recent one month’s bank statement to email@example.com. CMCU First Post Loan Application Form – Word Version. In order to assess your application we will also need:
- Confirmation of your new post (letter/email from training incumbent, DDO, District Stationing Officer, Presbytery Clerk or similar and your permission to contact them
- Proof of your new address if not included in above
- The date your new appointment will commence.
Remember – Non-Stipendiary or Self Supporting Ministers may apply for a loan from Churches’ Mutual at any time.
Contact us today for a quote or more information: