Consolidation Loans – 7.5% (APR 7.72%)
Our consolidation loan works by merging all of your debt into one manageable payment.
A consolidation loan could help you get a lower monthly payment, pay off your debt sooner, increase your credit score, or simplify your financial life for less stress.
Representative Example
A representative example is a term used in financial regulations.
The example will help to show you the typical costs associated with a loan for a certain amount.
Loan Amount
€20,000
Loan Term
5 Years
Weekly Repayment
€92
Rate of Interest – APR
7.72%
Total Interest
€3,998
Total Cost of Credit
€23,998
Loan Calculator
Use the calculator below to work out your repayments from our various loans.
- Weekly
- Fortnightly
- Monthly
All figures given on this website are for your general information only, and give an approximate guide to loan repayments. The figure calculated above does not constitute a loan offer and any statements on this website do not purport to be authorative or legally binding. The Lough Credit Union accepts no responsibility for errors due to changes in rates or offers which have occurred after this date. You are advised to check with our offices for up-to-date rates and offers.
What do I need to apply?
For personal applications the following documents are required:
3 Most Recent Payslips
Bank account statement for 3 previous months
Proof of rent or other liabilities if not evident on your bank statement
Statements for your Revolut account if this is your main day to day account
If Self employed/director of a company you will also need to provide:
Most recent set of financial accounts
Corresponding notice of assessment / Form 11
Tax Clearance Certificate / letter from your accountant confirming tax affairs are up to date
Bank account statements for 3 previous months
Ready to Apply?
Click on “Apply Now” button to start your journey right now or click on “Contact Us” button to send us a message if you are unsure about your documentation, or still have other questions. If you are not a member, join us today!
Why apply with us?
- Flexible, low cost way of covering your expense.
- Straight forward loan with regular repayments over an agreed term.
- No administration fees or hidden charges.
- Interest is charged on your reducing loan balance so your repayments are based on what is actually outstanding.
- Loans are insured by the Credit Union’s Loan Protection Insurance. This gives the comfort of knowing that your family will not be left with the burden of loan repayments in the event of your death. This cover is available at no extra cost. (Terms and Conditions apply).
- Loan interest rebates may apply. See the benefits section for more information.
All loans are subject to approval. T&C’s apply. Warning: if you do not meet the repayments on your loan, your account will go into arrears.
This may affect your credit rating which may limit your ability to access credit in the future.
Credit Unions in the Republic of Ireland are regulated by the Central Bank of Ireland.