Our Credit Union offers a number of services to the members.

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Latest News

14 Mar 2021

Student Loans

Get set for college. Apply for a student loan today with our Low Interest Rate of 6.5 % APR.

15 Mar 2021

Simple Way To Lodge Money

The protection of our members & staff are of the utmost importance to us. We are now providing envelopes to make it easier for our members to lodge money without having to come into the office.

16 Mar 2021

Instructions for Online Access

Visit www.swillymulroycu.ie on a laptop or computer and go to LOGIN on the top right corner of the website.      

17 Mar 2021

Information on COVID 19 Preparations

Due to the ongoing COVID 19 situation we wish to reassure members that we will continue to provide our services as long as is practically possible.

17 Mar 2021

Important Notice To All Members

During the present Emergency, Cash Withdrawals will be limited to €500.00 per member, per week. This is to ensure that we can meet the cash needs of all our members during this crisis.

How To Apply

The Loan Application Process

The Credit Union will consider loan applications from members for any worthwhile purpose. Each application is treated in the utmost confidence and will be considered on its own merits. It is credit union policy to meet the borrowing requirements of as many members as possible, depending on the available funds.

Our staff will give you any assistance required when making a loan application. Loans will then be submitted to the Credit Committee for consideration.

What do you need when applying for a Loan?

In deciding whether or not to grant the loan the credit committee will take into account the members record of savings and loan repayments, as well as ability to repay. As a general rule all loan will require supporting documentation showing ability to repay.

  • Current Bank Statements (Generally 6 months)
  • Recent Payslips
  • Social Welfare Receipts etc.
  • P60
  • If self -employed, latest set of Audited Accounts, up to date management accounts & projections for the next 12 month etc.
  • We endeavor to have your loan application reviewed as promptly as possible.

When the loan is granted the member will be asked to complete a credit agreement, which is a legally binding document being a promise to repay the loan, and to commit to regular repayments.

The Length of a Loan

The duration of loan can vary and generally, is linked to the purpose of the loan. For example, holiday and car insurance loans are normally repaid over one year. All other loans are usually repaid within 3 to 5 years. Home Improvements loans can be extended to a 10 year term.

Managing and Repaying Your Loan

Credit unions are flexible with regard to repayment plans, though there are some legal limitations to length and amount of loans. The member will be advised on the best repayment plan to meet their own circumstances. Members are generally advised to repay a loan in as short a time as possible. Should a member experience difficulties in meeting repayment commitments, they should immediately explain the situation to the credit union, which will treat the matter sympathetically and in total confidence. Depending on circumstances, the loan will be renegotiated if possible.

Remember - only members are eligible to receive loans from Swilly Mulroy Credit Union.