Kiltimagh Credit Union
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Home Loans

WHAT IS SO DIFFERENT
ABOUT A CREDIT UNION LOAN?

Your Terms

Once you are eligible for a credit union loan, repayment terms can be designed around your needs

Insurance

Your credit union loan is insured – subject to terms and conditions – at no direct cost to you. Other lenders charge for this

Less Interest

Repayments are calculated on your reducing balance, so you pay less interest with each repayment
What is so different about a credit union Loan?

Fees

There are no hidden fees or transaction charges

Fair and Reasonable

Credit union interest rates are fair and reasonable and capped by law

No Penalties

You can pay off your loan early, make additional lump sum repayments or increase your regular repayments, without a penalty. Other lenders may charge you extra for paying them back faster!

HOW MUCH DOES A CREDIT UNION LOAN COST?

Kiltimagh Credit Union can give you details of current interest rates. Click here to Loan Calculator.

WHAT ABOUT REPAYMENTS

The two most important things about a loan are, being able to borrow the money and being able to repay it. Credit Union loans must be repaid within a 5 year period.

Your credit union is flexible. You can choose a payment plan that suits you today and if your situation changes, you can talk to your credit union about possibly changing your repayment plan. Remember you can pay back you loan early, make additional lump sum repayments or increase your regular repayments, without a penalty. Other lenders may charge you extra for paying them back faster! Loan must always be repaid within a 5 year period.

 

HOW DO I APPLY FOR A LOAN?

How do I apply for a Loan?For members, it’s as simple as visiting your credit union and discussing your needs. We will fill and application form with you. You will need to furnish us with proof of income and expenditure (Pay slips or P60 and all relevant Bank Statements). We will forward this information to our credit committee for assessment Note: they may access your credit history through the Irish Credit Bureau.

If you’re not already a member, call into our office for more details on how to apply for membership.

Members can now apply online

STUDENT LOANS

Kiltimagh Credit Union believes that no one should be denied an education because of finance. We offer third level loans at the reduced cost of 6.5%. These loans are set over a five year term in order to keep the repayments low at the outset. The loan has to be guaranteed by a Parent or Guardian. You must remember that obtaining credit is a serious issue and will make the education/qualification that you obtain worthless should you damage your credit rating by slow or non payment of debt.

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