The Credit Unions basic service is that of providing loans to its members. Loan applications can be made for any provident or productive purpose e.g. cars, home improvements, holidays, weddings, bereavement expenses, first communion, confirmation, education, etc.   

Credit Unions have a reputation for taking a positive approach to lending.  Rather than looking for reasons to turn down a loan,credit unions are more likely to look for conditions that make the loan possible.

WHAT CAN I BORROW FOR?

Members can borrow for any provident or productive purpose (worthwhile purpose).

For example: Car Loans – Home Improvement Loans – Holidays – Bridging Loans - Special Occasions - Education - Weddings – Christmas – Medical – Car Tax – Car Insurance – Emergencies – Etc.                  

HOW DO I APPLY FOR A LOAN?                                                                                                                                                      

Complete an application form in the credit union office, or on our website  (www.ccu.ie), or telephone the office

(00353 42 9331935), during office hours and ask to speak to one of our lending staff.

CAN I APPLY FOR A FURTHUR  LOAN BEFORE I REPAY MY CURRENT LOAN?

Yes you can.                                            

Make Cuchullain Credit Union the sole provider of your personal finance. We can offer you a top – up on your existing  loan or you can apply for a seperate loan which may be priced at a different interest rate. For example you may borrow for your car purchase, for your annual holidays, for your child’s education, and for those home improvements. These loans may be approved as seperate loans and will appear as seperate balances on your account.

If you are applying for a top-up loan you should bear in mind the progress that you have made on repaying your existing loan. In some cases where there is concern at the overall indebtedness of the member, Cuchullain Credit Union may ask that a minimum % of the original loan is repaid before a further top-up may be considered.

HOW DO I REPAY MY LOAN?

You can repay your loan by calling in to our office at The Ramparts, by Standing Order or by Direct Debit.

ARE THERE ANY HIDDEN COSTS?

No. Cuchullain Credit Union does not charge administrative fees, or early settlement charges or final payment charges as some lenders do.

HOW LONG WILL I HAVE TO WAIT FOR LOAN APPROVAL?

Loan Applications are considered promptly and in the strictest confidence by the  loans officers or by the credit committees. It is Cuchullain Credit Unions objective to turn around loan decisions as  quickly as possible.

You can assist and speed up the loan approval process by providing the credit union with all relevant documentation ie payslips, bank statements, auditted accounts etc on request and as soon as possible.

WHAT ARE THE BENEFITS OF A CREDIT UNION LOAN?

No Hidden Fees or Charges.

No Document Fees.

No Penalty Interest for early loan redemption.                        

Interest charged always on the outstanding balance.

 Life Savings and Life Loan Protection Insurance at no extra cost (Limits Apply).

HOW MUCH INTEREST DO I PAY ON MY LOAN?

“Truth in Lending” with no hidden cost is the policy of the credit union movement. By law Cuchullain Credit Union and every other credit union cannot charge more than 1% per month on the reducing balance of a loan.