Payroll Savers Loan

Who is this loan for?

This loan is for you if:

  • you are looking for an affordable personal loan between £250 and £15,000 for a specific item or event, or
  • you are purchasing a vehicle for under £5000, and
  • you work for an employer (see the list below) who will send us the loan repayment direct from your salary or stipend, or
  • you receive a pension from a previous employer who will send us the repayment direct from your pension
  • you are able to save a small amount (say between £5 and £10) with every repayment

Before you apply

The following employers are currently part of the payroll deduction scheme:

  • Methodist Connexion
  • Methodist Ministers
  • Church of England Church Commissioners
  • Church of England NCIs
  • Church of England Pensions Board
  • Church of Scotland
  • Crossreach
  • Church in Wales
  • Diocese of Oxford
  • Diocese of Salisbury Academies Trust
  • United Reformed Church
  • RC Diocese of Westminster
  • The Springfield Project, Birmingham
  • Aletheia Anglican Academies Trust
  • The Good Shepherd MAT
  • St Vincent de Paul Society

We are always looking to extend the number of eligible employers (churches and charities) from the denominations in our common bond we work with. If you think your employer should offer payroll savings through Churches Mutual please ask your HR department to contact us.

If you are not an existing member of Churches Mutual please check your eligibility before completing the application form.

Have your bank statements ready

Churches Mutual now uses ‘Open Banking’ to assist us in assessing the affordability of the loans we make. This means that in most cases it will no longer be necessary to send us bank statements in support of your application (unfortunately the Co-operative Bank is the main exception to this), instead you will receive an email with a link that enables you to give permission for us to download a report to help us with assessing the amount of income you have available to repay a loan. If Open Banking is new to you Martin Lewis has a good introduction on his website:

If you cannot or do not wish to use open banking please provide banks statements as requested in the application form.

See our FAQs if you're unsure how to send your statements to us.

Apply for loan