Secured Loan – 4.85% (5% APR) Variable
“Borrow against your savings while keeping your nest egg in place”
Why choose a Letterkenny Credit Union Secured Loan?
- No hidden costs or administration fees
- No penalty for early payback, you can pay the loan off early or make lump sum payments with no additional charges
- Free life cover on your loan (subject to terms & conditions)
- Low-Cost Loan- affordable loans
- Flexibility to repay your loan with terms of up to 10 years
- Repayments to suit you – weekly, fortnightly, 4-weekly or monthly
- Fast and efficient service, for loans less than €10000 you can collect the loan on the same day you apply.
Term & Conditions
- Applications are open to all members of Letterkenny Credit Union Ltd
- Members can take a loan up to the value of their savings
- Loans can be issued against cleared funds only
- Shares are held as security
- Max term 120 months
For ALL secured loans we require
- Proof of PPSN (Payslip, document from Revenue or Department of Social Welfare)
- Photo ID- Current Drivers licence or Passport
- Proof of your Address dated within the last 6 months: A current utility bill or bank statement or government letter
For secured loans greater than €10,000, we need the detail above and the following
- 1 recent receipt of any income you receive (this may include payslips, social welfare receipts, pension receipts).
- If you are self-employed we need your most recent Chapter 4 Notice of Assessment which has been submitted to revenue.
APPLYING FOR YOUR LOAN IS EASY
Apply through your cu online members area
Apply through the Letterkenny Credit Union App
Apply in person
CONTACT DETAILS OF THE LOANS TEAM
Should you have any queries contact our loans team
Email: Loans@letterkennycu.ie
Phone: 074 91 02 126
REPRESENTATIVE EXAMPLE
| Secured Loan Amount | Term | 60 monthly Repayments | Total Amount repayable |
| €10,000 | 5 years | €188.10 | €11,283.08 |
Representative example correct as at 20.03.23
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.
