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Loans From Douglas Credit Union Ltd.
In 2016, Douglas Credit Union approved 96% of loan applications.
Having a savings history with us is an advantage, as is having funds in your account. However, new members can apply for a loan immediately. You can also apply for the amount which meets your needs, not a figure based on your savings. We make our decisions to lend based on a few factors, the ability to repay is one. Our loans are tailored to meet specific member needs and come with competitive interest rates. Loan repayments can be done in a branch, over the phone or by direct debit.
A loan from Douglas Credit Union gives members a wide range of benefits including;
- Competitive interest rates
- Free loan protection insurance
- Interest is charged on members reducing loan balance only
- No hidden charges or transfer costs
- Flexible loan repayment options
- No penalty for lump sum repayments or early loan repayments
The Application Process
All loan applications are treated with the strictest confidence. The key consideration is a member's ability to meet repayments. Secured Loans can be paid out immediately. All first-time loans over €2000 must have an ICB check completed, which gives details of the credit history with other financial institutions.
Loans are subject to approval. Terms and Conditions apply. 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. Douglas Credit Union Limited is regulated by the Central Bank of Ireland.
