My First Loan
This is a new loan product that is open to any current member of our credit union who has never previously had a loan, and to all new members of our credit union.
Anyone who lives or works in Lucan or Adamstown and family members are eligible to join Lucan District Credit Union to avail of this loan. For more information on how to join our credit union please click here.
Borrow up to €25,000*. Over terms of up to five years @ 6% (APR 6.17%) per annum.
- There are no set up fees, admin fees, or close out fees on our loans.
- All our loans are automatically covered, at no extra cost to you, by our unique loan protection insurance (subject to T&Cs). Click here for more information about this insurance.
*Example of expected loan repayments for My First Loan
| Loan Amount | Monthly Repayment | Term | Total Cost of Loan | Total Amount Repaid |
| €5,000 | €152.11 | 36 months (3 years) | €475.27 | €5,475.27 |
| €10,000 | €190.33 | 60 months (5 years) | €1,598.04 | €11,958.04 |
| €20,000 | €386.66 | 60 months (5 years) | €3,196.08 | €23,196.08 |
See our loan calculator below for other loan amounts and other payment frequency options (members can repay weekly, fortnightly or monthly).
Terms & Conditions of My First Loan
- Only current members who have never previously had a loan with Lucan District Credit Union, and new members can avail of this loan.
- This is an introductory loan offer. Members can avail of this loan for their first loan only. Members who have previously had loans with Lucan Credit Union may not avail of this loan.
- Members can apply for a loan of up to €25,000 as a first loan. This will be subject to underwriting to check your credit rating and the overall affordability of the loan for you and your family.
- A terms of up to 5 years only is available for this loan.
- The interest rate on the loan is 6% (APR 6.17%)
- If you top-up this loan at a future date, the introductory rate will no longer be available, and your topped-up loan will be at our standard interest rates.
- The Board reserve the right to change the interest rate on this loan or withdraw this product at any time.
Loan Calculator
Maximum Loan Term :
6.17%
6.17%
6.17%
This calculator is for illustrative purposes only, to give you, the borrower, an overview of the potential cost of borrowing. The Credit Union, or any of its staff, cannot be held responsible for any errors. Please note that this calculator only provides an indicative quote and actual repayments may vary.
We have no hidden fees, admin costs, set up costs, balloon payments, close out fees or penalties of any kind
Our interest rates are fair and reasonable compared to others in the market
Free life cover on your loan (subject to terms & conditions). See the page on Loan Protection Insurance for more information.
You can pay off your loan early without a penalty
Loan interest is calculated on a daily basis, you will pay a little bit less interest with each repayment
Repayments are flexible, you can repay as you are paid, weekly, fortnightly or monthly
