Your Home Improvement Loan – Your Way with The Lough Credit Union

Whether you’re looking for THE ‘We can’t stack the boxes any higher’ LOAN, or THE ‘we need to convert the garage’ HOME IMPROVEMENT LOAN, come and talk to The Lough Credit Union.



Our philosophy has always been to look at things differently. We understand the difference a home improvement loan can make to your life, increasing comfort and adding space, so we always look at your whole story to make sure you feel at home with the loan process. We only propose home improvement loans with realistic terms, which you can pay back in a way that works best for you.

We don’t charge administration fees or transaction charges and you can pay back your home improvement loan early without penalty, if that becomes an option. Remember, in your local credit union, you are not a customer, you are a valued member.

So if you’re thinking about turning your house into a home again, call in to The Lough Credit Union today.



No matter what your home improvement loan is for – from a total revamp, to just a little redecorating, The Lough Credit Union will ensure everything is clear, transparent and straightforward. So you can get on with creative and wonderful improvement ideas for your home, your way.

  • There are no hidden fees or transaction charges.
  • Credit union interest rates are fair and reasonable and are capped by law.
  • Repayments are calculated on your reducing balance, so you pay less interest with each repayment.
  • In the event of your death, your credit union loan is insured – subject to terms, conditions and eligibility criteria – at no direct cost to you.
  • You can pay off your loan early, make additional lump sum repayments or increase your regular repayments, without a penalty. Other lenders may charge you extra for paying them back faster!

Home Renovation Incentive – now extended to December 2018

The Home Renovation Incentive (HRI) scheme enables homeowners or landlords to claim tax relief on repairs, renovations or improvement work that is carried out on their main home or rental property by tax-compliant contractors and that is subject to 13.5% VAT.

The HRI is paid in the form of a tax credit at 13.5% of qualifying expenditure, which can be set against your income tax over 2 years. This effectively reduces the rate of VAT to zero on qualifying work, up to a value of €30,000.

In order to qualify for the HRI, the work must be done between 25 October 2013 and 31 December 2018 for homeowners and between 15 October 2014 and 31 December 2018 for landlords.

For more information on the Home Renovation Incentive (HRI) scheme, visit:


* For a €5,000 three year variable rate loan with an interest rate of 9%, an annual percentage rate of 9.9%, the monthly repayment will be €161.10 and the total amount repayable will be €5,799.60.



€1000 Cash Giveaway – Celebrating 50 Years Supporting the Local Community

The Lough Credit Union has teamed up with Cork’s RedFM and Dave Macs Drive to help us celebrate 50 years supporting the local community.

Every day on Dave Macs Drive (4-7pm) Dave will drive people to check out the RedFM Facebook page at a particular time every day.

When listeners check out the RedFM Facebook page they will see that the Red Patrollers are on “Facebook Live” and are in a secret location within the The Lough Credit Union’s common bond area with €50 on the table. The first person to figure out where they are and come up to them will win the €50 in cash!

The Lough CU logo      The Lough CU common bond map


As the days go on, the cash gets greater;

Monday           x1 €50    (€50)

Tuesday          x2 €50    (€100)

Wednesday   x3 €50    (150)

Thursday       x4 €50     (€200)

On Friday, in our final secret location, we will have €500 up for grabs!

This secret location on Friday, 26th May will be located somewhere in The Lough common bond area!!

The Lough Credit Union – celebrating 50 Years supporting the local community –

The Lough Credit Union’s 60 Seconds Video Competition Winner

Congratulation to Kinga Olszewska who was announced as the winner of The Lough Credit Union’s 60 seconds video competition in conjunction with St. Aloysius Girls Secondary School. Kinga’s video highlights the benefits of saving with your local credit union. Kinga took time out from running St. Aloysius schools credit union to receive her Samsung Galaxy Tab E prize. Well done to Kinga from The Lough Credit Union. Check out her winning video below.


Kinga Olszewska, St. Aloysius Girls Secondary School, receiving her prize from Lorcán McLoughlin, Business Development & Marketing Officer The Lough Credit Union, after winning The Lough Credit Union’s 60 seconds video competition.

One Book One Community

The Lough Credit Union is delighted to support local primary and secondary schools for their involvement in the One Book One Community project.
One Book One Community is a community reading project where children and their families are encouraged to read and discuss a particular book. Here at The Lough Credit Union we’re proud to support the One Book One Community project which will benefit the youth in our community, with schools working together to promote a love of reading.
Photo: Jim O’Dea and pupils from local primary and secondary schools receiving sponsorship from Lorcán McLoughlin, Business Development and Marketing Officer, at The Lough Credit Union for their One Book One Community project.
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