Why borrow with the Credit Union?

If you are looking for a dream holiday, car, education, home improvements or for whatever the reason, Lifford Credit Union offers an attractive loan rate to suit your needs.

Benefits to you

  • Allows you to do the things you want to do
  • Our loan application process is quick and efficient
  • You can apply in any of our offices at Lifford, Raphoe or Newtowncunningham
  • Competitive interest rates with flexible repayment terms
  • Interest is calculated on the reducing balance so you pay less interest with each repayment
  • No Fees and No Penalties if you repay your loan early
  • Free Loan Protection Insurance – loan is cleared in the event of death or permanent disability*
  • When your loan is cleared, you will still have your savings
  • For Car Loans, you own the vehicle straight away.
    No lease and no hire purchase.

How do I Apply for a Loan?

Simply call into any of our three offices and talk to one of our staff. They will be happy to guide you through the application process. If you would like to speed this process up, simply download and print the below Application Form, and bring this completed with your details, accompanied with relevant documentation, when you call to an office to apply.

What is Interest Rebate?

At the end of the year, if Lifford Credit Union issue a Loan Interest Rebate, you’ll get a refund on the interest you paid on your loan throughout the year.

Lets look at an example for 2016, where Lifford Credit Union provided a 22.5% Rebate to our Borrowers. That means that you as a borrower would get back 22.5% of any interest paid on your Standard Loan throughout 2016.

In effect, the 12% interest rate paid on your loan in 2016, becomes equivalent to an interest rate of 9.3% when our interest rebate is taken into account. Now that’s called looking after our members!! 

Be sure to bare in mind the very attractive Interest Rebate, along with all the other benefits of borrowing from Credit Unions,  when comparing our loan products with other lenders offering less competitive and less flexible loan products.

Remember Lifford Credit Union is a Not-For-Profit organisation, that exists to serve our members!!

Our Loan Products

Currently we offer three different loan products to suit our members:

Standard Loans @ 12% (Apr 12.66%)

For all the little things in life, we have the perfect personal loan to suit your needs and pocket ; whether it’s a holiday you’re after , finally getting that dream car or a big home renovation project. Borrow up to €35,000, availing of our Personal Loan competitive rate of 12% (12.66% APR). Use our personal loan calculator to find out just how competitive and flexible our loans are.

Education Loans @ 6.99% (Apr 7.2%)

At Lifford Credit Union we are committed to helping students and parents, manage the cost of investing in education throughout their full college cycle. We recognise that third level education can be a financially challenging prospect. Whether you are looking to further your career or a parent with third level students, let us take one worry off your mind by helping you finance your education in an easy and affordable way with a Lifford Credit Union Education Loan at 6.99%, (APR 7.2%).

Secure Loans @ 5.99% (Apr 6.16%)

A Secure Loan allows you to borrow up to the value of your savings at the special low rate of 5.99% (APR 6.16%). So if you don’t want to dip into your savings but need to make a necessary purchase or if you are considering giving your family a well-deserved treat you can now make your savings work for you. A Share-Secured Loan is a cost-effective way to access funds while leaving your savings untouched and available for future needs. Please use our Loan Calculator to see what your repayments and interest rates could be.

Check out our loan calculator below for a loan that suits you.

  • Every Month
  • Total
  • Total Interest Payable

*(T&Cs apply)


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