Raheny Credit Union Opening Hours & Welcome

We will provide you with the loan you need at the best possible rate, because a credit union exists only to benefit its members. Here, we will show you how easy it is to work out the true cost of a credit union loan, and what questions you should be sure to ask when you are applying for a loan elsewhere.

What are the Main Benefits?

A credit union loan enjoys many benefits unmatched elsewhere, including:

* Very reasonable interest rates repaid on the reducing balance only.

* No fees or hidden charges on any transactions.

* Loans up to €20,000(and sometimes up to €40,000) are insured at no direct cost to the member. Savings
continue to earn dividend while you repay your loan.

* Loan applications are dealt with strictly on their own merits.

How much interest do I pay?

By law we cannot charge more than 1% per month on the reducing balance of a loan. The maximum cost of €100 borrowed for a year repaid monthly is €6.50 - and there are no fees or hidden charges.

What about repayments?

You'll find we are flexible when it comes to repayments. Loan repayments are designed to meet members' individual circumstances. We will advise you when taking out a loan, what is the best repayment plan for you. If your circumstances change or you experience difficulty repaying a loan, we will be happy to advise you on the best course of action to satisfy both parties. If you receive a windfall on the other hand, you may clear off your loan without any penalty.

How do I apply for a loan?

Remember, you must be a member to be eligible for a credit union loan. To receive an application form for membership go to our forms page.

If you are already a member you can request a loan application form through our forms page.

Loan Application forms must be completed and submitted to the Credit Committee for approval. To qualify for a loan a new member must be saving regularly for four months either on a weekly, fortnighly or monthly basis. First loans will be twice the amount of savings to a maximum of €20,000 over shares and must be fully repaid before making further applications. Further loans are normally on a 3:1 ratio and are subject to Credit Committee approval.

Loan interviews will be on Tuesday nights by appointment only. Loan enquiries by telephone on Wednesdays only between the following hours

For security reasons, share withdrawals and loan collection will only be effected until 12:00pm or 7:30pm where appropriate during opening hours.