A Lurgan Credit Union loan can be granted to any member aged 18 years and over. You need to join before you can borrow.

The advantages of borrowing from Lurgan Credit Union

  1. Our approach is fair and equitable. To us you're a member and not just a credit score. Because of this we always focus on your personal circumstances when considering your application.
  2. Interest is charged on the declining balance of the loan. Unlike the banks, this gives you the flexibility to pay early and pay less interest without incurring any charges.
  3. There’s no need to take out expensive insurance to cover your payments in case of death or permanent disability. At Lurgan Credit Union your loan is automatically covered, (up to certain limits), at no direct cost to you.
  4. Save as you borrow. Members are encouraged to continue saving at all times, even when repaying a loan. Savings help build up your own safety net. Furthermore, having a savings record makes it more likely we’ll accept your loan application in the future.
  5. Repayment plans are flexible and tailored to your needs. If your circumstances change and you need to alter your repayment plan, we are here to help you.


About our loans

Our Personal Loan is charged at 7.5% APR. You can borrow:

  • Up to £15,000 with a maximum term of five years
  • Up to £60,000 with a maximum term of ten years

All personal loans are subject to a credit check.

If you already have savings with the Credit Union you can take out a Loan Against Savings without a credit check. The rate is 7.5% APR. You can borrow from £5,000 to £20,000 over a maximum of 10 years as per our loans policy.



Borrow £2,500 over 12 months
Lurgan Credit Union 7.5% £217 £2,599 £99
Ulster Bank 24.9% £235 £2,814 £314
Saving £215

Source: Ulster Bank website accessed 7th Jan 2021

Borrow £7,000 over 48 months
Lurgan Credit Union 7.5% £169 £8,089 £1,089
Barclays Bank 10.9% £179 £8,585 £1,585
Saving £496

Source: Barclays Bank website accessed 7th Jan 2021