Loans
Take Out a Loan
Whether you're looking to borrow to help with your household expenses or for a larger purchase, we have the right personal loan to suit you. We've made it easy to borrow at a fair, affordable rate with no application fees and no early repayment charges.
Loan Application
Applications for loans are made on a standard loan application form. Members can apply for a loan by calling into our office or online via our website (you will need a PIN for this). Our staff will give you any assistance required. Loans will then be considered by a Loans Officer, the Manager or by the Credit Committee which meets weekly.
The Credit Union will consider loan applications from members for any worthwhile purpose. Each application is treated with the utmost confidence and will be considered on its own merits. It is the Credit Union's policy to meet the borrowing requirements of as many members as possible, subject to credit criteria.
Cultivate farm Finance
6.55% (APR 6.75%)
A loan specifically designed for Farmers which provides short to medium term loan opportunities built specifically around the growing needs of our farming members. Loans of up to €75,000 available unsecured, flexible repayment options to suit cashflow and available on terms up to 7 years. Whether you need to purchase livestock, invest in new or second-hand machinery or upgrade your buildings or facilities, this loan is tailored made to meet your needs.
Standard Loan Rate
10.5% (APR 11.07 %)
Our standard loan is a popular loan for a wide range of purposes including, holidays, credit card bills, school expenses, etc. Apply online or via Arklow Credit Union's offices. We require 3 months most recent Bank/Revolut/Post Office statements, proof of income and credit card statements if applicable.
3rd Level Educational Loan Rate
5.5% (APR 5.64%)
Third level education is an expensive yet exciting experience. Arklow Credit Union's low-interest rate 3rd Level Educational Loan is here to help. To apply, the Credit Union requires proof of your course, 3 months most recent Bank/Revolut/Post Office statements, proof of income and credit card statements if applicable.
Online Only Car Loan Rate
6.9% (APR 7.14%)
Arklow Credit Union's Online Only Car Rate will allow you to own your car outright from day one. No balloon payments. No final payment. No mileage restrictions. To apply you must complete the online loan application then forward 3 months most recent Bank/Revolut/Post Office statements, payslips and credit card statements if applicable. Once the loan is approved we require the member to sign the relevant documentation and then the payment is made payable directly to the garage.
Secured Loan Rate
5.5% (APR 5.64%)
A secured loan allows members to borrow against the amount in their shares. Arklow Credit Union offers this low-interest rate loan so that members do not have to withdraw from their regular shares which are protected by insurance. No bank statements are required. The member's account must be up to date with Proof of ID, Proof of PPSN and Proof of Address. The loan is quick, easy and accessible to regular savers.
Debt Consolidation Loan Rate
12% (APR 12.74%)
If you have multiple credit commitments and are struggling to manage them all, then a debt consolidation loan is for you! Simplify your expenses by consolidating credit cards, loans and other outstanding debts into one easy, manageable loan. Apply online or via Arklow Credit Union's offices. We require 3 months most recent Bank/Revolut/Post Office statements, proof of income and credit card statements if applicable.
What you need when applying for a loan
In deciding whether or not to grant the loan the credit union will take into account the members record of savings and loan repayments, as well as the ability to repay. Once the loan is granted the member will be asked to complete a Credit Agreement, which is a legally binding document being an undertaking to repay the loan, and to commit to regular repayments.
We generally require some or all of the following information to accompany Loan Applications i.e.
- Evidence of income e.g. payslips, accounts, proof of social welfare payments, etc.
- 3 months most recent Bank/Revolut/Post Office statements
Mortgage statement for the past year - Credit card statements
- The more complete the application is, the quicker the decision is made.
Remember - only members are eligible to receive loans from your credit union - so join up now!
Warning: Loans are subject to approval. Terms and Conditions Apply. If you do not meet the agreed repayments your account will fall into arrears. This may affect your ability to access credit in the future. Arklow Credit Union is regulated by the Central Bank of Ireland.
