Loans Covered Loan

Covered Loan

Make your savings work for you.

A covered loan is a cost-effective way to access funds while leaving your savings untouched.
You are allowed to borrow up to the value of your savings at a discounted rate of interest 6% (6.2%APR) while continuing to earn a dividend on your savings.
Click here for our loan calculator to calculate your monthly repayments.

There are a number of reasons why a Covered Loan makes sense;

  • Avail of our lowest interest rate for loans.
  • You continue to earn a dividend on your savings account.
  • Your savings remain intact.
  • Flexible Repayment Options.
  • Instant loan approval subject to Appointment
  • It’s easier to repay a loan than replace savings.
  • There are no restrictions on the purpose of the loan
  • Repayments are calculated on your reducing balance, so you pay less interest with each repayment.
  • Your credit union loan is insured - subject to terms and conditions - at no direct cost to you. Other lenders charge for this.

How do I apply for a Covered Loan?

To get your Covered Loan today, please choose one of the following options:

For existing members

None of the standard documents supplied by members are required for a Covered Loan.

Your consent to undertake an Irish Credit Bureau check with your loan application.

Loans are subject to approval. Terms & Conditions apply.

Representative Example

Borrow €2,500 over 18 months, repay €33.53 per week, total amount payable (including interest of €115.31) is €2,615.31. APR is 6.2%.


Contact Us
  • Sarsfield Credit Union
  • Tel: 061 317 910
  • Fax: 061 319 731
  • Email:
  • Web: www.sarsfieldcu.ie
  • Address: Glentworth Street, Limerick
Contact Us
  • Tel:
  • Fax:
  • Email:
  • Address:
  • 061 317 910
  • 061 319 731
  • Glentworth Street, Limerick
Opening Hours
  • mon
  • tue
  • wed
  • thu
  • fri
  • 10:00-16:00
  • 10:00-16:00
  • 10:00-16:00
  • 10:00-16:00
  • 10:00-17:00

We are open throughout lunch.
Call in and talk to us today.

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Sarsfield Credit Union Ltd is Regulated by the Central Bank of Ireland. Reg No. 166CU