Loan applications are processed each Thursday evening!

How to Apply:

In order to apply for a loan, a member must FULLY complete a loan application form. You may download a form from the Members area of this website or contact the Office by telephone or email to request that a copy to be sent by email or by post.

Loan applications are processed by the Credit Committee who meet on a Thursday evening. Note: The Committee may return an incomplete loan application form or they may request further information before they make a decision!

***Want us to transfer to your bank directly?
Supply sort code & bank account number***

How much may a member borrow?

There is no hard or fast rule about how much a member may borrow.  The best guideline for an individual is to work out how much they need and are able to repay within a reasonable term. In general most members opt to repay car loans over three years and home improvements over five years. 

• Five years is the maximum term available for any loan.
• €50,000 is the maximum total loan amount.
• Loans that are referred to the Board at their monthly meeting include:
  
  • Officers loans
  • Loans over €25,000
  • Loan applications in excess of two in the previous calendar year
  • Loan applications from any member outside the Common Bond

Loan examples:

Amount Borrowed	APR	Fortnightly Repayment	Duration - Yrs
€1,000	8%	€40.01	1
€10,000	8%	€92.73	5
€20,000	6%	€215.72	4
€30,000	6%	€267.26	5

Check out our simple on-line loan calculator for calculating the loan you want!

A word of caution!
In terms of the current economic climate, members may think of how their household financial circumstances could potentially change if a member of the household were to become unexpectedly redundant or some other unexpected event arose. This may impact on a member's personal decision on how much they wish to borrow.

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Loan Rates:

Rate	APR	Purpose	Special Conditions
Standard Rate	8%
Reduced Rate	6%	Car Loan	Max term of 4 years
Reduced Rate	6%	Home Improvement	Min €20,000 Max €50,000

 

Your First Loan

It is usual for new members to save for 13 weeks before applying for a loan.

Loan Protection Insurance

Your loan is automatically covered (to certain limits) at no extra cost. You can borrow confidently knowing that your dependents are protected against this debt in the event of death or permanent disability.