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

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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

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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

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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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Your Credit Union & AXA

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AXA Insurance and Credit Unions have teamed up to benefit you!

Did you know you can get up to a 10% discount off your car or home insurance because you’re a Credit Union member?

Not only that, there’s more benefits!

Follow the link for more details

National Poster Winners

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We were delighted with the opportunity to attend the National Poster Prize Giving in Croke Park. The Lough Credit Union and Cork Chapter XI were represented by the Le Cheile Group based in Glasheen Girls School. Le Cheile were awarded first prize for the group poster in the 7 years and under category.

Five of the seven children, together with family members and school representatives attended the event. Le Cheile were the first to receive their prize on the day and there was great excitement as Marty Whelan presented their prize.

The poster, entitled Dream Catcher will feature in the ILCU Calendar for 2018.

The talented artists are Peter Mc Gowan, Grace O Callaghan, Harry Mulligan, Martyna Baczek, Sarah Walsh, Daniel O Mahony and Eoin Geelan.

We would like to say another big Well Done to the class and we are so proud!!

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Job Vacancy

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Life is too short to belived counting the years.Enjoy the ride and makeamazing memories.Have a great birthday!

Job Title: Business Development & Marketing Officer

 Contract: One-Year Fixed Term (Full Time)

 Reporting to: The CEO.

 Summary of Role:

Reporting directly to the CEO, the Business Development and Marketing Officer is responsible for identifying opportunities and building relationships that result in both active membership growth and increased lending, in accordance with the credit union’s strategic objectives.

His/her primary role is to foster, develop and maintain productive relationships with individuals, groups and businesses within the common bond, in order to increase active membership and lending.Policy development and planning, with key responsibility for encouraging new business into the credit union, is an important part of this role. This requires a thorough knowledge of the market, the solutions/services the credit union can provide, and of the credit union’s competitors.


Principal Duties & Responsibilities:


  • Develop a business development and marketing strategy for the credit union in conjunction with the credit union’s strategic plan:
  • Design and implement effective marketing campaigns to increase the Loan Book and Active Membership
  • Develop clear, cost effective communication plans with all stakeholders, through direct mail, digital, online marketing, web development, and social media
  • Design and produce advertising and point of sale promotional displays and material.
  • Analyse membership market trends, and enhance member involvement through member surveys/focus groups in line with business development strategy.
  • Organise and attend all PR and event activities: act as the key credit union representative with all media: advertising, radio, newspapers, local magazines, online etc.
  • Develop Youth campaigns that will encourage younger members to join and support the Credit Union through promotion of the Credit Union ethos in primary, secondary and third level education;
  • Manage and maintain the credit union website, Facebook page, Twitter account and any other social media utilised by the credit union;
  • The ability to work as part of a team as well as on your own to achieve results.


The successful candidate should have the following:

  • Relevant marketing experience in a results driven, customer focused environment
  • Relevant 3rd level qualification in Marketing/Business or other
  • A customer centric approach, focused on delivering continuous improvement in the services provided to the credit union’s members
  • Excellent interpersonal and communication skills: verbal/written and public speaking/presentation
  • Proven ability to work on own initiative as well as part of a team
  • Proven target driven experience and delivery of quality results
  • Commercial focus, combined with the ability to manage relationships with multiple stakeholders
  • Excellent IT skills and knowledge of digital marketing and social media, and experience in using a variety of software packages, such as Microsoft Word, Outlook, PowerPoint, Excel, etc. for the production of online content, correspondence and documents and maintain presentations, records, spreadsheets
  • Drive and enthusiasm for the Credit Union ethos
  • A clean driver’s license


Applications to:

Ms. Irene O’Keeffe, CEO:


Closing Date for applications: 10th March 2017.


The Lough Credit Union Ltd. is an Equal Opportunities Employer.

Car Loans from The Lough CU

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We Help… You Succeed

Here at The Lough Credit Union we know how difficult it can be to get loans for the things we need in life. This is one of the reasons we strive to make our loan process as easy, transparent and stress free as possible.

Unlike many car finance deals available today, which are actually Hire Purchase Agreements, arranging your car loan through us means that you own the car from the very first day making life a lot easier when it comes to being a car – owner.

PCP VS The Lough Credit Union (LCU) Car Loan

LCU Car Loan 

    • Unlike a Hire Purchase Agreement you own the car from the outset.
    • You can sell the car on at any time.
    • You can borrow for the full amount
    • There are no hidden fees, admin charges, transaction charges, set up costs or balloon payments.
    • The interest you pay on the loan is the full cost of the loan so it is fully transparent.
    • Repayments are calculated on your reducing balance, so you pay less interest with each repayment.
    • You can pay off your loan early, make additional lump sum repayments or increase your regular repayments, without a penalty.

When you use a PCP agreement to buy a car, the car dealer sells the car to the finance company. The finance company then rents the car to you for an agreed period of time in return for a set monthly repayment over a number of years. During the PCP Agreement, you can use the car but the finance company actually owns it. You don’t own the car until you make the last repayment. This means you cannot sell the car and there is also usually a cap on the amount of mileage you can do in a year in this “rented” car.

The fees and charges on hire purchase agreements vary, but may include:

  • Documentation fees – This is a fee for setting up the agreement.
  • Interest surcharge for missed repayments – this means an additional amount of interest will be charged on the amount unpaid
  • Penalty fees for missed or late payments – This is charged for missed or late payments, in addition to the interest surcharge.
  • Completion fee for ownership of the goods to pass to you. This is a fee charged to end the agreement and to allow ownership of the goods to pass to you.
  • Repossession charge – If the finance company repossesses the goods, you will be charged a fee.
  • Rescheduling charge – If your lender agrees to change the terms of the agreement, you may be charged extra.

With most PCP agreements, the monthly payments are not evenly spread out and you may pay less in the earlier months of the agreement. This results in a large balloon payment at the end of the term.


So why not check out our loan calculator at and see how our Car Loan can help speed things along and get 2017 started the right way for you.

The Lough Credit Union – Local , Loyal & Lending.




The Togher Defibrillator Fund

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We are absolutely over the moon to help sponsor The Togher Defibrillator Fund. This fund has been organised by the fantastic Clódagh Looney – a local resident. Clodaghs main reason for setting up this fund was due to the high number of cardiac arrests that happen in our area. Togher residents have no access to a defibrillator 24/7 as the ones that are currently available to the public are only accessible during office hours.

The Defibrillator will be placed outside Whytes Centra in Togher under CCTV & outdoor alarmed cabinet.

We would like to wish Clodagh all the best with this fantastic initiative and we are behind her 100%.

We Love Local – We Support Local.

In Photo : (L-R) Niall McCarthy (Togher Community Centre) Rachel Walsh (The Lough Credit Union) Clodagh Looney & Noreen Crowley (Togher Community Centre)