Loans
 

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Saving while repaying


Members are encouraged to continue saving at all times, even when repaying a loan.  Remember - even the smallest amount saved regularly grows quickly, and that your savings and loans are protected by insurance. Savings not only help build up your own fund but also contribute to the Credit Union fund.

Advantages of borrowing with Lurgan Credit Union?


When you receive a loan from your Lurgan Credit Union, you will find many advantages in comparison to other institutions:

 
  • Your loan application will be dealt with strictly on its own merits
 
  • Your repayments will be tailored to meet your own personal circumstances
 

Your loan will be insured at no direct cost to yourself - speak to our Loans Officers for further details and conditions

 
  • The interest rate you pay will be reasonable, and interest will be payable only on the reducing balance of the loan.
 
  • The repayment schedule can be adjusted to meet your own changing circumstances if necessary.

Policy Change

As a new policy, all members in employment applying for a loan in excess of their shares will be asked to provide proof of their earnings, for example, a payslip within the last three months or a recent bank statement.

Any members in receipt of benefits applying for a loan in excess of their shares will be asked to provide a copy of their entitlement or a recent bank statement or letter from the benefit office showing what they receive.