Want a loan? You’ve come to the right place. Here at Waterford Credit Union, we take care of our own, which means when you become a member, you can apply for a great value loan. Discover our wide range of personal loan options below and why a loan from Waterford Credit Union is the best you can get.
From cars to holidays to everything in between, if you need a loan, we can help you. To learn more, click on the headings below.
Benefits of a car loan from Waterford Credit Union:
- You own your car from the outset, which means you can sell or change it anytime you wish.
- You can pay off your Waterford Credit Union car loan early, make additional lump sum payments or increase your repayments without facing a penalty. Other lenders may charge you extra for paying back your loan ahead of time.
- You can see exactly where your repayments are going every week/month – how much to principal, how much to interest – it’s very transparent.
- Your Waterford Credit Union loan is insured, at no extra cost to you (some T&C’s apply). Other lenders will charge extra for this.
- You can drive your new/used car at ease, and not worry about mileage restrictions or problems you may face with the lender when the loan term is up.
- You can get your car serviced wherever you want. You are not tied down to one garage.
- You can decide what make of car to purchase next. You don’t have to stay with the same dealer.
- No Administration or set up fees.
- Pay extra off your loan and pay less interest. We calculate our interest on the reducing balance each month so by paying a little extra when you have it you pay less interest over the term of the loan.
Interest Rate: 10.46% APR
Whatever the season, if you’re thinking about a new kitchen, conservatory or garden shed, talk to us about a Home Improvement Loan. It’s easy to apply and costs nothing to talk.
Interest Rate: 10.48% APR
Are you considering extending or renovating your home? If so, we can help you. Our special ‘Home Renovation Loan’ is specifically for people looking to refurbish or build onto their home.
Interest Rate: 8.28% APR
We understand how expensive student life can be – the fees, the books, and especially the accommodation. So why not plan ahead and contact our lending team to discuss a Further Education Loan? Once in place, you can drawdown the funds when you need them
Interest Rate: 6.69% APR
Whether it’s a week in the sun, a weekend hiking in Kerry, or a trip around the world, if you need a helping hand to cover the cost, talk to Waterford Credit Union about your holiday loan today.
Interest Rate: 10.46% APR
If you or someone you know is getting married, you will know that weddings don’t come cheap. However, with a bit of careful planning and creative thinking, it’s amazing how much money you can save. And if you need a helping hand, we’re happy to talk to you about a Wedding Loan; it’s easy to apply and costs nothing to talk.
Interest Rate: 10.49% APR
If you are looking to purchase a property or renovate an existing home, and can offer the property as security, we can give you a favourable interest rate as low as 3.99% (4.06% APR).
The loan must be secured by First Legal Charge on property.
Free Loan Protection Insurance* – in the event of your death your loan is insured and will be repaid.
*T&C’s apply. Ask in branch from more details.
Interest Rate: 4.06% APR
Are you considering growing your business? Do you need a stocking loan or perhaps you need to buy new equipment or a vehicle? If so, we can help you. Our special ‘Small Business Loan’ is specifically for people looking to expand their business.
Interest Rate: 8.28% APR
Waterford Credit Union has made available a loan fund of €1m to lend at a special interest rate of just 6.5% (APR 6.7%), to help increase local spending and in turn help the businesses in our community get back on their feet.
Interest Rate: 6.7% APR
Why choose a loan from Waterford Credit Union:
- High Loan Approval Rating
- Easy Application Process
- Quick Loan Decision
- Flexible Repayment Options
- Free Loan Protection Insurance
- No Transaction Fees
- No Penalties for Early Repayment
- Great Value Loan Rates
- Online Banking & Mobile App
- Potential Interest Rebate
Calculate a Loan
Calculate different loan types using the dropdown below:
Representitive Example€10000 over 30 months at a variable rate of 9.99% (10.46% APR) equates to monthly repayments of € and a total repayable of €
Representitive Example€9000 over 36 months at a variable rate of 9.99% (10.48% APR) equates to monthly repayments of € and a total repayable of €
Representitive Example€45000 over 90 months at a variable rate of 7.99% (8.28% APR) equates to monthly repayments of € and a total repayable of €
Representitive Example€7500 over 30 months at a variable rate of 6.5% (6.69% APR) equates to monthly repayments of € and a total repayable of €
Representitive Example€7500 over 30 months at a variable rate of 9.99% (10.46% APR) equates to monthly repayments of € and a total repayable of €
Representitive Example€20000 over 30 months at a variable rate of 9.99% (10.49% APR) equates to monthly repayments of € and a total repayable of €
Representitive Example€100000 over 150 months at a variable rate of 3.99% (4.06% APR) equates to monthly repayments of € and a total repayable of €
Representitive Example€25000 over 36 months at a variable rate of 7.99% (8.28% APR) equates to monthly repayments of € and a total repayable of €
Representitive Example€10000 over 36 months at a variable rate of 9.99% (10.45% APR) equates to monthly repayments of € and a total repayable of €
Representitive Example€59000 over 66 months at a variable rate of 7.99% (8.29% APR) equates to monthly repayments of € and a total repayable of €
Representitive Example€11000 over 36 months at a variable rate of 6.5% (6.7% APR) equates to monthly repayments of € and a total repayable of €
Make an Enquiry
Want a loan? Want to become a member? Whatever your query, fill out the short form below and we’ll get back to you as quickly as possible.
Apply for a loan
If you wish to apply for a personal loan with Waterford Credit Union just fill out the form below. We will assess your request and get back to you with a decision as quickly as possible. If you wish to apply for a business or secured loan or just don’t have all your details to hand, you can fill out the enquiry form.
Everything you need to know about taking out a loan from Waterford Credit Union. Click on the questions below to reveal the answers.
If you are a new member or an existing member who has not borrowed from Waterford Credit Union previously and are considering a loan, talk to our lending team today. They can be contacted by phone on 051-861 616, by email at email@example.com, submit loan enquiry online at https://www.waterfordcu.ie/
There is no minimum saving history required. Join today, borrow today. All loans are subject to individual assessment. Our loan officers are happy to answer any queries you may have and discuss repayment options with you.
Your first loan will be based on your affordability to repay the proposed loan amount. Each loan will be assessed on its own merits.
You will be asked to provide evidence of your income e.g. 3 recent payslips, and 3 months up-to-date bank statements. For your first loan a loans officer will meet you to explain how a credit union loan works and answer any questions you might have. A credit check will usually also be carried out to make sure you are not over-indebted elsewhere.
Of course you can. Being on a lower income or a government payment does not exclude you from borrowing; it just means you will be borrowing smaller amounts.
We lend to our members for everything from household appliances to holidays, cars, bills, weddings and home improvements. It’s important to be honest and tell us why you want a loan. Being realistic is all about you taking a step back and looking at what you really need to borrow and can afford to pay back.
For example, borrowing for a holiday or Christmas means repaying the loan in full over 12 months, with a view to you borrowing for the same purpose again next year. The more you borrow the higher the repayments and bear in mind you may want to borrow again during the year for other expenses like back to school, a communion, confirmation, car tax or insurance. Make smart decisions now and don’t put yourself under pressure in the future.
Yes definitely, whether you pay weekly, fortnightly or monthly, it’s vital that you pay on time and do not constantly change your repayments. The date you draw down your loan determines when your repayments are due. Interest is added daily and if you are not consistent with your repayments, it can cause interest arrears to build up.
For example, if paying weekly, and you draw down your loan on a Friday, then the payment is due every Friday. If paying fortnightly, the first payment is due two weeks later and every two weeks thereafter. If paying monthly, your payment is due on the draw down date each month; paying later than this date will result in arrears building.
If you are topping up an existing loan, you will still have to make your due payment for that week, fortnight or month. Topping up a loan doesn’t mean you are skipping the due payment because of the top up. If you skip, it will result in arrears.
If you can pay ahead, you are covered and won’t fall behind. Otherwise, a multiple payment will be due on your return to bring your loan up to date. Failure to catch up on missed payments will result in arrears.
Keep your repayments up to date and don’t fall into arrears – that’s the best way to ensure you can borrow again. But another way to increase your favourability when looking for future loans is to continue saving. We always recommend to our members to save something with their loan repayments if they can. As well as having a nest egg to fall back on, you are building on your ability to borrow again in the future as higher savings can mean bigger loans.
No. Electronic payments are instructions from you to pay a set amount regularly until you tell the sender/debtor to stop or alter the payment. You can only make those changes yourself. Any payments received after a loan is cleared/ completed will automatically go to your shares. Please note that direct debits are set up with us and MUST be cancelled or altered with us, not at your bank.
Yes. We will not lend if it is unaffordable or puts you under pressure to repay it. Sometimes when calculating the affordability, after we add up all a member’s financial commitments, it becomes clear that the requested loan is unaffordable for that member under their current financial circumstances and we have to say no.
Yes. If your loan is refused, the reasons will be clearly explained to you and we will explain how you can work towards having an approval the next time you apply. You always have the right to appeal a loan refusal to our credit committee. They meet monthly or fortnightly depending on the number of cases. You can make an appointment with them or they will look into it for you, if you can’t or don’t want to attend.
The first thing you need to do is contact our team in Credit Control on 051 861666 as soon as your circumstances change. We always work closely with our members and come up with the best solution to help you get through this difficult period, whether it’s short term or long term. We are here to work with you, not against you and there are always options. Early communication is vital. Putting it on the long finger or ignoring it will only make it harder to sort out the problem when you do eventually come to us.
Please be aware that arrears will show up on a credit report and may affect future borrowing. A loan and any arrears history will remain on a credit check for 5 years after the loan has been completed as per regulatory requirements and cannot be removed or altered unless the information is incorrect.
Information for SME Borrowers concerned about Financial Difficulties
If your business is experiencing financial difficulties it is important to communicate these issues to us as soon as possible so that we can work together to address them. Engaging with the credit union at the earliest possible stage gives us the best chance of finding a resolution that works for both sides.
We will consider any financial difficulties situation sympathetically and work with you constructively to find appropriate solutions. In most cases, by continuing to work together, we will find an acceptable alternative way forward.
The booklet attached below outline the definitions of terms such as arrears and financial difficulties. It is helpful to familiarize yourself with these terms and the procedures surrounding them. The most important step however is to engage with the Credit Union at the earliest possible point. Apart from our own internal processes we can also point you in the direction of other outside bodies who may be able to further assist your business in solving any trading difficulties it may be experiencing.
The Credit Union Information Booklet below outlines Waterford Credit Union’s procedures when dealing with SMEs in ‘financial difficulties’ and gives information on the support which will be provided by the Credit Union to SMEs in this situation. The Credit Union recognises that individual SMEs may differ by size and indeed sector and therefore each SME in financial difficulties will be dealt with on a case-by-case basis.
Steps involved in dealing with SME’s in or facing financial difficulties
Step 1: Contact the Credit Union as soon as possible
Step 2: Inform the Credit Union of your concerns
Step 3: Agree an approach to resolve the situation
Step 4: Provide relevant and reliable information as requested by the Credit Union
Step 5: Complete any necessary documentation requested as part of the assessment
Step 6: Regularly Review your progress with the Credit Union and advise us should your situation change
Please refer to the Information booklet for Small to Medium Enterprises in arrears on this website.
To take out a loan, you need the following paperwork:
- One form of photographic identification: passport, driving licence, national EU ID card, ML10 form (signed and dated by An Garda Siochana within the last 2 calendar months and birth cert)
- One form of address verification dated within the last 3 calendar months: current utility bill (gas, electricity, landline telephone), bank statement, Revenue documentation, social welfare documentation, insurance policy (house or car, renewal notices NOT accepted), any correspondence from a recognised source (hospital, school, government body)
- Proof of PPS number: medical card, DPS card, Government letter etc.
NOTE: Waterford Credit Union CANNOT accept the Public Service Card (Green Card) for Proof of ID or PPSN.
Going to College?
Ask about our special education loan.
Loan rate only 6.69% APR. Vist our loans page below to find out more
Waterford Credit Union have always been there for me. They gave me a further education loan when I was in college and a car loan when I bought my first set of wheels. I’d be lost without them.