ATTENTION! (1)

Attention new & first time borrowers.

At The Lough Credit Union (LCU) we always try to keep our finger on the pulse with our members and people living or working in our area. Over the past few months we’ve been researching what services and products our members are looking for and we’ve found out that there’s lots of people around The Lough, Togher and surrounding areas that are thinking about borrowing for the first time but don’t know how to go about applying for a loan, or just haven’t decided where they want to borrow from.

 

In response to this we’re launching our brand new First Time Borrower loan product today for a limited time only at the reduced interest rate of 8.3% APR*.

 

This new loan does exactly what it says on the tin and can be taken out for any purpose. The rate is available to:
1. All new members that join LCU;
2. Existing members that have not borrowed from us before, or;
3. Existing members that have borrowed from us before but who have not had a loan in the last 24 months, i.e. their previous loan completed in full over 24 months ago.

 

We know that taking out a loan can be a frustrating experience, particularly when it’s your first time, so we’ve tailored this loan and our application process to be as hassle-free as possible. We’re always trying to ensure that we keep things as efficient as possible while ensuring we comply with increased regulatory requirements.

 

Check out what your repayments could be.

 Visit Loan Calculator

Use this calculator to see what your repayments might be, pop in your contact details, and we’ll get back to you ASAP to discuss your needs or to start processing your application.

 

All loans are subject to approval. Lending criteria, terms & conditions apply. For information in relating to the supporting documentation that may be required with a loan application please see the information on our Loans page. This rate is available to qualifying persons from the 5th of October 2015 until the close of business the 30th of November 2015.

 

* The reduced rate refers to the difference between the new First Time Borrower rate and our personal loan rate of 9.9% APR.

 

See how we stack up against other lenders in the market over at the Consumer Protection website! You might be surprised.

 

The T&C’s
• Rate is only available to members of The Lough Credit Union Limited. If you’re not already a member you can download an application in our download section.
• Minimum loan amount of €200 required.
• A minimum of 10% of the loan amount value must be held by the member in savings in their credit union account as security against any loan. Savings held in this manner may not be withdrawn until the loan balance falls below this savings balance, at which point the difference between the loan balance and savings balance will become accessible. For example, if a new member wished to borrow €3,500.00 a minimum of €350.00 would have to be kept in savings until the loan balance falls below €350.00.

Eat, sleep, save, repeat

Eat, sleep, save, repeat.

Notice: Undefined property: stdClass::$share_count in /hsphere/local/home/loughcr/loughcu.ie/wp-content/plugins/mashsharer/includes/mashengine.php on line 136

Check out The Lough Credit Union’s 10 Top Tips for UCC students!

As an eventful Freshers Week 2015 draws to a close there’s one last thing all UCC students should do before the week is out and that’s join The Lough Credit Union.

There’s loads of reasons to sign up but here’s just 3 for your brains to process towards the end of what has probably been a very long week:

1. Our Great Rate Education Loan
As a Member you can apply for our Education Loan to help with the student contribution, which might come in handy in January or even next year, and if you can’t afford to take out a loan yourself a parent or guardian could avail of the reduced rate or even go as guarantor. An Education Loan can also help cover the costs of accomodation, laptops, books and any other expense that helps fill that big brain of yours with knowledge. Check out what your repayments would be over on our Loan Calculator.

2. Online & Mobile Banking
We have free full online banking functionality with our “CU-Online” facility, so if you’re ever down to your last pack of Koka noodles and it’s only Wednesday, you can be shamefully bailed out by the National Bank of Mammy & Daddy – they’ll be able to eletronically transfer the money from their bank account into your credit union account using your BIC & IBAN in just a few clicks. (And you can transfer it back when you have it!)

Our online banking is also backed up by our free CU-Anywhere mobile app for iOS and Android devices meaning you can manage your CU finances on the go. The app allows you to sign in an view your CU account balances, make internal and external electronic transfers as well as providing handy access to our mobile website and facebook page.

3. We’re Social
Credit unions are the original crowdfunders. We have been pooling people’s resources together to maximise their benefit for everyone since long before crowdfunding was even a thing. We operate under a co-operative, not-for-profit ethos so everything we do is driven by servicing our Members’ needs, not by corporate greed. We work closely with people and groups in the community and our strategic direction is set by our volunteer Board of Directors which is made up of people from the community.

Any surplus we generate is returned to our Members annually after meeting reserve requirements either through the payment of a dividend on savings, an interest rebate on loans repaid or by reinvesting the money in improving or developing new services.

If you think you might like to join why not visit our membership page and get the ball rolling. You’d be mad not to.