Loans

Life’s constant changes demand that you have financial flexibility, and there’s no easier way to get that flexibility than with a loan from St Brigid’s Credit Union Ltd. Our low cost loans are designed to be flexible to help you maintain adequate cash flow throughout the year. Compare the real cost of a credit union loan with that of other financial institutions, taking into account our advantages, and we think you’ll agree you’re better off talking to St Brigid’s Credit Union.

Why Borrow from St Brigid’s Credit Union?

  • No hidden or additional costs
  • No set up or documentation fees
  • Interest is paid on the reducing loan balance basis – this means smaller interest repayments as you repay your loan
  • Repayments can be tailored to suit your particular circumstances
  • Flexible repayments – No penalty for paying off your loan early
  • Your loan is protected under our Loan Protection life policy at no extra cost
  • Easy application process and speedy decisions

Loan Checklist

  • Establish a good savings record by saving regularly so as to build up security for your loan. The more you save the easier it is to borrow
  • Prepare for your loan
    • Proof of Income: Employed – at least one recent payslip or a letter from the employer written on letterhead confirming your employment status e.g. permanent, temporary, full-time or part-time, the start date of your employment and your wage/salary.
    • Proof of Income: Self Employed – a Revenue Commissioners Income Tax Assessment and a letter from your accountant confirming your current income and/or your most recent up to date set of accounts
    • Proof of Income: Social welfare – a bank statement showing receipt of your income or the Social Welfare or Fas documentation evidencing the payment.

For certain loan products you may also be required to supply the following additional items

  • Home Improvements – Estimates of work, invoices etc.
  • Business Loans – Business Plans, recent set of accounts, tax clearance certificate
  • Student Loans – College documentation, Guarantor, Proof of Income for Guarantor (for more details click here)
  • Car Loans – Invoice from garage, change of ownership form etc
  • Other loans – quotation re car insurance, statements re credit card, breakdown of all expenses re wedding loans etc.

From time to time other additional information will be required and you will be notified of this once your application has been reviewed. Terms and Conditions Apply.

  • Loans in arrears will not be considered for top-up loan so it is in your interest to keep your account up to date
  • Talk to our staff – find out how much you can borrow, how much it will cost to repay, how much you need to have in your savings, and the frequency of your repayments.

Credit Check

At application stage you will be asked to consent to the credit union performing a credit check with the Irish Credit Bureau.

Standing Order

If you wish to pay your loan via Standing Order please bring in your bank account details – account number, sort code.

What is a Credit Agreement?

A credit agreement once signed is a legally binding contract between the member taking out a loan and St Brigid’s Credit Union Ltd. The agreement contains terms and conditions under which the loan will be issued and under which it must be repaid by the member. By signing the credit agreement, a member agrees to be bound by its terms and conditions.

What steps should a member in difficulty take?

Should any borrower find themselves in difficulty due to some unforeseen circumstances they should immediately contact the office. Arrangements can be made to avoid the account going into arrears and protect a members’ good credit record. This is very important as arrears on an existing loan can cause problems if a member applies for further loans. Members in difficulty will be treated sympathetically but the onus rests with the member to make early contact with the credit union.

Loans-Advert-March-2013