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Loans |
The Credit Unions most basic service is that of providing loans to its members. Loan applications can be made for any provident or productive purpose e.g. cars, home improvements, holidays etc Credit Unions have a reputation for taking a positive approach to lending. Rather than looking for reasons to turn down a loan, credit unions are more likely to look for conditions that make the loan possible. This often means that credit unions may grant loans that other financial institutions would not consider. |
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Loans Service Box |
| What can I borrow for? | >>> Apply For a Loan |
| >>> Loan Calculator | |
| Members can borrow for any provident or productive purpose (worthwhile purpose) for | >>> Why Borrow With Us? |
| example: | >>> Our Loans and Rates |
Car Loans - Home Improvement Loans - Holidays - Bridging Loans - Business Loans - Special Occasions - Site Purchase - Education - Agricultural etc
How do I apply for a loan?
Simply complete an application form at any of our branch offices or on our website www.tipperarycreditunion.com. Members can also Freephone a Loan on 1800 62 22 62.
Can I apply for a further loan before I repay my current loan?
Yes. You can apply for a top up loan at any time - you don’t have to repay one loan before applying for another. If your new loan is at a different rate our system is enabled to run the two or more loans concurrently at the one time on the one account.
How do I repay my loan?
You can repay your loan at any of Tipperary Credit Unions branch offices. These are located in Tipperary Town (Head Office), Doon, Dundrum, Oola, Emly, Cappwhite, Hollyford. Information on our branch offices and their opening times is available by clicking here.
Tipperary Credit Union also offer members the facility to pay by Direct Debit. Direct Debit is a simple, reliable and economic way of making your repayment on a weekly, fortnightly or monthly basis. More information on this service is available on page 19 of this booklet.
Are there any costs?
Apart from loan interest charged there are no other costs.
How long do I have to wait before I know if my loan has been approved?
Loan Applications will be considered promptly and in the strictest confidence by either a loans officer or credit committee. It is Tipperary Credit Unions objective to turn around loan decisions within 24 hours, if not sooner.
Larger loans may take longer if various conditions need to be satisfied.
What are the benefits of a credit union loan?
- 100% finance offered
- No Hidden Fees or Charges/No Document Fees
- No Penalty Interest for early loan redemption
- Interest Decreases as your loan decreases
- Free Life Savings and Free Life
- Loan Protection Insurance (Limits Apply)
- Optional Repayment Protection Insurance available
How much interest do I pay on my loan?
“Truth in Lending” with no hidden cost is the policy of the credit union movement. By law Tipperary Credit Union and every other credit union cannot charge more than 1% per month on the reducing balance of a loan. This represents an Interest Rate of 12.69%. Tipperary Credit Union currently charges much lower interest than this and details on our loan rates can be seen on page 11 of this booklet.
We set our Loan Rates
Tipperary Credit Unions loan rates are not affected by European Central Bank rate fluctuations. We decide our or loan rates depending on what dividends we pay on our members savings.