Providing Loans To The Local Community

Providing Loans To The Local Community

St. Michael's Credit Union has provided €5,078,237 in loans to the local community in the past 12 months!

At a time when many of us are under considerable financial strain, St. Michael's Credit Union continues to be there for those in local communities who need a helping hand, by offering small, affordable loans to members and a secure environment for members' savings.

The good news is that St. Michael's Credit Union is welcoming well coming new members every day and is still providing loans to their members. In fact, in the past 12 months St. Michael's Credit Union has issued new loans to the value of €5,078,237.

As well as offering a standard personal loan to their members, the credit union also offers specailised under share loan.

Before taking out a loan of any kind, it's worth taking the time to understand how lending works. That way you can compare the benefits and be aware of the risks. Some of the things that make a credit union loan different are;

  • Credit union interest rates are fair and reasonable and capped by law
  • Repayments are calculated on your reducing balance, so you pay less interest with each repayment
  • There are no fee's, admin or hidden charges
  • Your credit union loan is insured - subject to eligibility, terms and conditions - at no direct cost to you. Other lenders charge for this
  • 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!

Roland Haussmann, General Manager from St. Michael's Credit Union " A loan from St. Michael's Credit Union is a much better and more sensible option than borrowing from high interest rate moneylenders and we would certainly urge you to come and talk to us first before you approach one of these companies. the two most important things about a loan are, being able to borrow the money and being able to repay it. Loans are only one of a raft of services we have available to members so whatever stage in life you are at, we're here to help."

Further information on loans can be found here on our website.


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