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:

• Apply online - click here to apply now
• Dial a loan on 061 317910
• Call in to the branch and talk to our team

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.