Loans for Teachers & Education Staff
The Money Co-op offers low-interest loans for teachers and anyone working for a school, college, or other educational institution. Borrow £100 to £25,000 and repay it over a term that suits you, with interest starting from just 7.9% APR. As a responsible lender, we carry out full affordability and credit checks on every application to ensure repayments are manageable.
Alongside a personal service from our friendly team, you’ll enjoy easy repayments and flexible terms. It’s never been easier to get a new car, renovate your home, or consolidate your debt.
Finding the best loans for teachers
From teachers to IT support staff, everyone working in education might need a loan from time to time. Whether you’re borrowing for debt consolidation, a big family holiday or just to get over a financial bump in the road, it’s important that you find the right lender for your needs.
The Money Co-op is a credit union dedicated to responsible lending for teachers and education staff. Education is part of our common bond – a shared connection that unites our members and qualifies you for membership.
With us in your corner, you don’t just get great personal loans. You have a place to save and become financially secure for years to come.
Why us?
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Low-interest loans: APR starts from an affordable 7.9%, depending on your loan amount.
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Manageable payments: Spread your repayments with terms from six months up to seven years.
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Fair terms: You’ll only pay interest on your remaining balance, and you can repay early with no fees.
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Protecting members: We’ll talk you through your options and do what’s best for you with no hidden costs.
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Not-for-profit: As a financial cooperative, all profits are shared between our members, including you!
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Our loan approval process
With The Money Co-op, you can apply for a personal loan for teachers and other education staff in five simple steps.
Become a member
If you’re not already a member, join our credit union in minutes. You’ll gain access to all our loan products and lots of other benefits. You’re automatically eligible as an employee in the education sector.
Apply online
Start your application with our handy app. Tell us how much you need to borrow, from £100 to £25,000. Then select a repayment term, between six months and seven years. Any issues? Our loans team is ready and waiting to help by phone or via web chat on the app.
Documents and checks
We’ll check your application and let you know what documents are needed. You’ll usually need to send your most recent payslip and bank statements. A credit check may be required – this is simply to assess affordability in line with our responsible lending policy.
Case-by-case review
All applications are reviewed by our team on a case-by-case basis, so your loan will be processed by real people. We’ll check everything within five working days and get in touch promptly if we need anything else.
Affordable repayments
Your repayments will be made each month via direct debit. Or you can make payments directly from your salary if you work for one of our payroll partners. Want to pay it off early? Not a problem. There are no fees, and you’ll reduce the amount of interest you pay overall.
Who is eligible for a loan?
Our common bond covers the entire education sector. By working in any education role, you are eligible to join the credit union and apply for a loan. This includes:
- Teaching & academic staff – From primary and secondary school teachers to college lecturers, university academics, tutors and researchers.
- Support & learning assistance – Teaching assistants (TAs), learning support staff, SEN (special educational needs) coordinators and pastoral care staff.
- Administrative & office staff – Such as receptionists, admissions officers, data managers, exam officers, HR staff and IT support.
- Estates & facilities staff – Site managers, cleaners, caretakers, security staff, catering teams and maintenance workers at education institutions.
- Leadership & management – Including headteachers, principals, deans, department heads, senior leadership teams and school governors or trustees.
- Careers & student services – Careers advisers, counsellors, safeguarding leads and welfare officers are also eligible.
If you’re wondering whether your loan amount is covered, we lend as much as £25,000 and as little as £100. Repayments are monthly with a term that suits your circumstances. That makes our personal loan for teachers ideal for:
- Buying a new car or repairing your existing vehicle
- Going on a big holiday with family or friends
- Splashing out on an extra-special Christmas
- Paying for your wedding or helping out your children
- Making home improvements like a new kitchen or bathroom
- Paying for pet surgery or other vet bills
- Consolidating your debts for better financial management
Get started with your loan application
Applying for a loan couldn’t be easier as a member of The Money Co-op.
Join today to access all our member benefits, including safe savings, annual dividends and lifelong financial support.
Testimonials
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“Very satisfied and really glad I joined. It’s helped me a few times.”
Chris
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“I cannot stress enough how happy I am to be a member. The staff are amazing, so helpful!”
Ella
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“Love being a member! It’s the first time I’ve been consistently able to save.”
Farah
FAQs
You can join online by completing our online membership application. Membership is free, and you can start saving with as little as £5 per month.
You will need to join the credit union first, then once your membership is completed, you can apply for a loan.
Take a look at our loan products to find the option that best suits your needs.
You can join The Money Co-op straight away if you:
- work for one of our payroll partners
- work in retail, co-operatives, charities, NHS, health and social care, housing, education or local government
- are a co-op member
- are a member of Usdaw
Not sure if you qualify? You can still apply here, and we’ll help guide you through the joining process.
As a member of The Money Co-op, you’ll have access to affordable loans, flexible savings accounts and a range of tools and support to help you manage your money.
Members may also receive annual dividend payments on eligible savings balances, as well as being part of a community-focused organisation that puts people before profit.
You will have received confirmation of your membership number when you first joined the credit union, or in other official communications from us, such as loan agreements.
If you’re unable to locate your membership number, you can contact us to request it, ensuring you quote your full name, date of birth and address in your message.
The email you receive email communications from us on is the one you are registered with. Check your email inbox for messages from credit.union@co-operativecreditunion.coop or info@wordpress-1415000-6381458.cloudwaysapps.com
If you’re not sure, you can contact us to request it, ensuring you quote your full name, date of birth and address in your message.
Our online services will require you to login with your details exactly as they are stored on our system. It’s important that if you’ve changed any details recently, such as your home address, telephone number or email address, that you get in touch with the team directly to change your details.
You can contact us to do so, ensuring you quote your full name, date of birth and address in your message, and details of the information you wish to update. We’ll get back to you during office hours.
Get in touch and a member of our friendly team will be more than happy to help. If you choose to email us, please just make sure you include your full name, date of birth and address in your message, and we’ll get back to you during office hours.