Member Login Loans
Providing loans for Members is one of the main functions of a Credit Union. Loans are provided on reasonable terms to Members, ensuring that money is injected back into the local area for the benefit of Members and the community as a whole.
Loans are provided for cars, home improvements, holidays, education, weddings, computers and any number of other purposes.
Loans up to €25,000 – Portlaoise Credit Union has amended it’s loan policy and has capped it’s loans at €25,000 net of shares. For any information on this you can contact any member of staff.
RATE OF INTEREST
The Credit Union charges different rates of interest depending on the purpose of the loan. Current rates of interest are as follows:
- Special rate Secured Loan 5.49% (typical APR 5.63%)
- Student loans and Adult Education loans 6.5% (typical APR 6.7%)
- One year loan that cannot be topped-up 5.99% (typical APR 6.1%)
- Other personal loans 8.99% (typical APR 9.2%)
Terms and conditions apply to each type of loan.
These keen rates of interest, together with free loan insurance and other benefits outlined below, make your Credit Union by far the best option for personal loans.
Unlike the financial institutions, the Credit Union does not charge interest on interest. Nor are there any hidden charges.
DURATION
The duration of the loan is linked generally to the purpose of the loan. For example, holiday and car insurance loans are normally repaid over one year. Car loans are normally repaid over a three to five year term, while home improvement loans are often repaid over a longer period.
Members have the flexibility of repaying the loans more quickly than planned, without any penalty.
FREE LOAN PROTECTION INSURANCE
APPLYING FOR A LOAN
Applying for a loan is easy and quick decisions are made on loan applications. Simply call to the office and complete an application form or apply online from the Members Area on this website, although be aware that even if you do apply online you will still have to call into the office to sign your application form and provide 3 months bank statements and two recent payslips.
The Credit Union joined the Irish Credit Bureau from 1st November 2006. All loans from that date may be subject to a credit check, but the permission of each member is sought first.