We only lend to members for productive purposes at fair and affordable interest rates. Credit Unions encourage thrift and prudence in communities and have saved many people from unscrupulous money lenders.
Who Can Get A Loan?
All members of our Credit Union are eligible for loans provided they fulfill the conditions current at the time of their application.
What Size Loan Can I Get?
The amount taken as a loan is influenced by a few factors:
- The reason for the loan
- Your ability to repay the loan, which also takes into consideration your previous savings and borrowing history.
- The amount of money available to the Credit Committee as a loan fund.
Each application is treated on its merits and you’re encouraged to clear any existing loans before seeking a new one. However, an outstanding loan does not prevent a new loan application. In some cases, we may seek a guarantor for any loan granted.
Getting Your Application In
Applying is easy. You can do it in person at one of our branches in Dublin, Shannon and Cork or download an application form. If you are signed up for Online Banking, you can submit your application directly HERE. Please note that as standard, your application must be submitted with 2 recent pay-slips and a three month bank statement and any other relevant documentation in support of your application i.e. Invoice, bills, quotations.
How Quickly Is A Decision Made?
Loan applications are considered each week. Loan amounts that are covered by a member’s share balance are available on demand and emergency or small value loans can be considered daily by a Loans Officer.
If a loan is refused, you may appeal the decision to the Board of Directors by writing to the Secretary of the Credit Union detailing all of the relevant facts.