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Loans Overview

You can request a loan, if you:

  • Have an account balance that will support a minimum loan amount of $1000.
  • Have no more than one other outstanding loan through your Retirement Only Plan account.
    (You may have one other loan from your other MMBB accounts as long as the combined loan amounts do not exceed $50,000.) Within each plan, no more than one loan may be taken in any rolling 12 month period.

There are two kinds of loans available, depending on the intended use of the loan:

  • General Purpose Loans must be repaid within 60 months.
  • Primary Residence Loans must be repaid within 120 months.

The differences between the two are mentioned below, where applicable.

Prior to requesting a loan you should review your situation with a Senior Benefits Specialist.

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Translations of any materials into languages other than English are intended solely as a convenience to the non-English-reading public. We have attempted to provide an accurate translation of the original material in English, but due to the nuances in translating to a foreign language, slight differences may exist.

Las traducciones de cualquier material a idiomas que no sean el inglés son para la conveniencia de aquellos que no leen inglés. Hemos intentado proporcionar una traducción precisa del material original en inglés, pero debido a las diferencias de la traducción a un idioma extranjero, pueden existir ligeras diferencias.

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