Shares Secured Loan
Make your savings work for you…
Why use up your hard earned savings, make them work for you!
Our Shares Secured Loan is available for members who would prefer to hold onto their hard-earned savings and benefit from:
- Increased Dividend value at year end
- Potentially increased Loan Interest Rebate at year-end
- Hold on to higher insurance benefits. (Example; if you took out a loan against your savings rather than withdraw them, in the event of your death your nominee would get the full savings balance plus the insurance and the loan would be paid off by the insurance. (Click here for Terms & Conditions)
- Don’t use your hard earned savings, borrow against them instead
- Immediate approval and you can draw down immediately
- Maintain your savings balance
- Flexible repayment options
- Free loan protection insurance (Terms & Conditions Apply)
- No transaction fees or administration charges
- No penalty for early repayment of loan balance
Advantages of Borrowing from Your Credit Union
When you receive a loan from us you will find many advantages in comparison to other institutions:
- The interest rate you pay will be reasonable and interest will be payable on the reducing balance of the loan
- Easy application process and a quick decision
- No Hidden fees
- No Early Redemption Penalties
- Your repayments will be tailored to meet your own personal circumstances
- Your loan will be insured at no direct cost to yourself (Subject to terms and conditions. Certain Limits apply.)
What you need to apply for a Credit Union Loan
- Proof of Income (most recent payslip or social welfare payments)
- 3 to 6 Months Bank Statements
- ID will be required (Passport or Drivers Licence)
Understanding loans
Before you decide to borrow money, think about how much you can afford and what would happen if your circumstances change. Gurranabraher Credit Union is a responsible lender and as such urges any member to think carefully before entering into any loan agreement. Please go to Consumer Help – for help on what you should consider before taking out a loan.
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Gurranabraher Credit Union is a large progressive Credit Union, with €100 m in assets and 16,000 members, located within 3 Kilometres of Cork City Centre.