Our Loan Benefits
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
- Maximum €2,000 over 2 years. It is unlikely that you will be granted €2,000 as a first loan.
- This loan is subject to underwriting by the credit union
- The interest rate on this loan is fixed at 12% (APR 12.72%)
- In addition to the loan application, three recent social welfare slips and three months bank statements, members should also sign the household budget scheme authorisation form.
- Repayments will be deducted directly from social welfare and forwarded by An Post to the credit union.
- A maximum of three Personal Microcredit loans may be granted, after this you would move to regular credit union loans. You can continue to repay your loans through the household budget scheme if you wish.
- Warning: It is very important to repay this loan as agreed to build a good credit rating. Not repaying as agreed will damage your credit rating and you may not be granted credit again by the credit union or any other financial institution.
- Note: Deductions from social welfare through the household budget scheme are limited to 25% of the social welfare payment. If you already have other deductions, for example rent, you might not be able to avail of the repayment through the scheme.
Loan Calculator
Maximum Loan Term :
12.47%
12.47%
12.47%
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.
Representative Example
Personal Microcredit Loan
Loan Amount€1,000 | Loan Term2 years | Rate of Interest - APR12.47% |
Weekly Repayment€11 | Total Interest€125 | Total Cost of Credit€1,125 |
Not a Member?
Joining the Credit Union is the best decision you could take for your money. Lucan District Credit Union currently has over 16,500 active members and is growing. New members are always welcome.
