Erris Credit Union Limited, Upper Barrack Street, Belmullet, Co. Mayo
097 82388 info@erris.cumail.ie
Our Credit Union is for People, not profit!

Loans

Loans at Erris Credit Union Limited

The two most important things about a loan are, being able to borrow the money and being able to repay it. At Erris Credit Union Limited we encourage you to manage your money carefully by structuring loans around your needs and your ability to repay. Establish a good savings record by saving regularly so as to build up security for your loan.

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  • There are no administration charges, hidden fees or transactions charges
  • Credit union interest rates are fair and reasonable and capped by law
  • Repayments are calculated on your reducing balance, so you pay less interest with each repayment
  • 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!
  • 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!
  • In the event of your death, your credit union loan is insured - subject to terms, conditions and eligibility criteria - at no direct cost to you

Your application is treated in the utmost confidence and will be considered on its own merits. In deciding, whether or not to grant the loan, we take into account your record of savings and loan repayments, as well as your ability to repay.

  • It sustains growth and employment as the money is spent locally
  • It provides opportunities to our members to travel abroad, get married, do home improvements, manage their finances, further their education etc
  • Borrowing from Erris Credit Union will help secure its future for generations of members to come

 

Our loan rate of 12% means you can borrow at a reasonable rate of credit compared to other financial providers – compare us to other financial service providers and you will see that you get a great deal at Crossmaglen Credit Union.

*For a £1000, 2 year variable interest rate loan, with monthly repayments of £47.07, an APR of 12% (12.68% APR); the total amount interest payable by the member will be £129.64

You have to be a member of Erris Credit Union Limited, with a regular pattern of saving. For members, please visit or contact us and we can discuss your needs and give you an application form.

Loans are subject to approval. Terms & Conditions Apply


* All figures given on this web site are for your general information only, and give a rough guide to loan repayments. Any statements on this web site do not purport to be authoritative or legally binding. You are advised to check with our offices for up-to-date rates and offers.

Types of loans available:
Amount you'd like to borrow (£)
Repayment term:
For how long (years):

Each repayment will be: £
Your total repayment will be: £
The total interest will be: £

Whilst every care has been made in the production of this information, it is for illustrative purposes only and to give you an overview of the potential cost of borrowing at Erris Credit Union. It does not constitute a loan offer. This document is for illustrative purposes only, so as to give you, the borrower, an overview of the potential cost of borrowing and does not constitute an offer of finance or repayments.