How-to: Get a Meijer Team Member Loan
One of the benefits of being a Meijer Team Member for more than a year is the Team Member Loan. This loan is there when you need it, even if you don't have great credit.
ALL CREDIT APPROVED!
Lending with MCU 101
At Meijer Credit Union, you can get a loan without ever stepping foot in a branch. Apply online and communicate with your loan officer via phone, text or email. You can even sign documents right from your phone or computer.
MTM Loan Requirements
How do I know if I am eligible for a
Meijer Team Member Loan?

  1. Must be a Meijer Team Member for at least one (1) year
  2. Be (or become) a Meijer Credit Union member
  3. Have Meijer payroll direct deposited into a Meijer Credit Union account
  4. Weekly loan repayments through payroll deduction
  5. Only one (1) outstanding Meijer Team Member Loan at a time
  6. Must be current on all other Meijer Credit Union loans
$500 or $1000?
There are 2 amounts available for the Meijer Team Member loan. If you have never had a MTM Loan before, you will need to start with the $500 Loan. Once the $500 has been repaid after 6 months, you are eligible to apply for the $1000 loan.
How-to: MTM Loan Process

The application is located on our website and is under "Loans & Credit Cards" at the top of our home page.

Step 1: Become a Member- Click Here
Step 2: Apply for MTM Loan- Click Here
Step 3: A loan officer will contact you by phone, email or text to ask you a few questions and confirm the details of your application.
Questions:
  • Are you still employed with Meijer?
  • What store do you work at?
  • Provide a reference- Family member or friend that doesn't live within your household just in case your contact information becomes outdated.
  • Are you in bankruptcy?
  • What is the purpose of this loan?

Step 4: Set up your Meijer Payroll to direct deposit into your MCU account.
Step 5: Deposit the application fee through payroll or by visiting a shared branch. To locate a shared branch Click Here
Step 6: Once you have completed the application and the steps above you will need to sign your loan documents. This can be done on your phone or on a computer.
Step 7: Get your money- And just like that your funds will be in your MCU account. You can login to online banking to review your balance.


Below is a screenshot of our loan application. If you are already a member, you can use your online banking sign-in and it will fill in your personal information. This application is available on your desktop or on your mobile device.
Direct Deposit & Payments
One of the first steps to getting this loan set up is establishing direct deposit from your Meijer Payroll for your weekly payments. You can not only set up your payroll to cover the weekly payment, but you can also use it to cover the processing fee.

Application Fees:
$500 Loan- $25 Fee
$1000 Loan- $45 Fee

Weekly Payments:
$500 Loan- $22 per week
$1000 Loan- $23 per week
Can the MTM Loan improve my Credit Score?
Having consistent on-time payments will certainly help improve your credit score. This coupled with some of the tips below can really make a difference.

What is a Credit Score?
  • Lenders use this number to predict your credit risk.
  • A credit score is a three-digit number usually ranging from 300 to 850
  • A credit score considers the information appearing on your credit reports as maintained by the three national credit reporting agencies (Experian, TransUnion and Equifax).

Can I Improve my Credit Score?
Yes, you can and you should! Here are some tips and tricks to improve your score:
  • Our Meijer Team Member loan is available to those who have worked for Meijer for 1 year or more and can help to build or better your credit.
  • We also offer a credit builder loan that is available to all members. This can help to build your credit by showing on-time payment history with the longevity of any term you choose.
  • Closing of credit cards can hurt your credit score
  • Closing and early payoff of loans or lines can also hurt credit as length of credit is a factor in credit score computation. (longer is better as it shows stability)
  • On time payments for loans, medical bills, utilities, taxes, etc. are all factors in helping credit either through showing on-time payments or avoidance of collections.
  • Any inaccurate items can and should always be disputed.
  • The best thing you can to do improve an existing score, is to have a conversation with one of our loan officers, as each member’s situation is unique and we are experienced in providing guidance and support.
Not A Member Yet?
Click the button below and fill out our membership application, it takes less than 10 mins.
Credit score will be pulled but will not be used in underwriting. $500 loan repayable in 6 monthly installments, will have an APR of 24.584% and monthly payments of $84.92. $1000 loan repayable in 12 monthly installments, will have an APR of 24.414% and monthly payments of $90.50.