Loans

Discover our wide range of personal loans. Calculate your repayments and apply online.

Find Out More

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.

Loan Types

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 (Reduced Rate 8.30% 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

If you have young children, you will know that August and September can be expensive months. There are uniforms and shoes to buy, as well as bags and books. It all adds up which is why we offer a Back to School Loan to help parents spread the cost of those back to school expenses.

Interest Rate: 10.46% 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’re looking for a loan and can offer the value of your home as collateral, we can give you a very favourable interest rate, as low as 3.99% (4.06% APR). It’s a great way of raising finance for very little money.

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

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:

month(s)

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 €

Monthly Payment:

Number of Payments:

Total Payments:

Total Interest:

Apply Now

month(s)

Representitive Example

€9000 over 90 months at a variable rate of 9.99% (10.48% APR) equates to monthly repayments of € and a total repayable of €

Monthly Payment:

Number of Payments:

Total Payments:

Total Interest:

Apply Now

month(s)

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 €

Monthly Payment:

Number of Payments:

Total Payments:

Total Interest:

Apply Now

month(s)

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 €

Monthly Payment:

Number of Payments:

Total Payments:

Total Interest:

Apply Now

month(s)

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 €

Monthly Payment:

Number of Payments:

Total Payments:

Total Interest:

Apply Now

month(s)

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 €

Monthly Payment:

Number of Payments:

Total Payments:

Total Interest:

Apply Now

month(s)

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 €

Monthly Payment:

Number of Payments:

Total Payments:

Total Interest:

Apply Now

month(s)

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 €

Monthly Payment:

Number of Payments:

Total Payments:

Total Interest:

Apply Now

month(s)

Representitive Example

€25000 over 6 months at a variable rate of 7.99% (8.28% APR) equates to monthly repayments of € and a total repayable of €

Monthly Payment:

Number of Payments:

Total Payments:

Total Interest:

Apply Now

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.

Please note that any personal data you provide will be treated in the strictest of confidence and in full compliance with GDPR legislation. Any identifying information you specify will be held by us for the purpose of helping with your query so that we can advise you properly. The data will be stored on our server until such time that it is no longer required.

I consent to Waterford Credit Union storing and using my personal data for sole the purpose of learning about my requirements so that you can advise me properly.

Apply for a loan

If you are a member of Waterford Credit Union, and have all your details to hand, 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 don’t have all your details to hand (or are not yet a member), it’s better if you fill out the enquiry form.

FAQs

Everything you need to know about taking out a loan from Waterford Credit Union. Click on the questions below to reveal the answers.

We believe in lending to members who save with us. Saving regularly is very important to establish a credit history with us before you apply for your first loan. To get started you must save regularly (unbroken) for a minimum of 10 weeks before applying for your first loan. If you prefer to save fortnightly or monthly then consider a minimum of 3/4 months of payments. This builds up a payments history with us and shows us you can afford to save a regular amount and that you’re reliable – two qualities that we look for in loan repayments.

If you take your money out while you’re saving, it tells us that this is not disposable income you can afford to save or potentially use to pay a loan, it’s money you need to live on, therefore putting doubt on the ability to repay a loan. You should save an amount that is comfortable for you. It can be a little as a few euros each week. Saving a little does not mean you cannot borrow, it just means you will be borrowing smaller amounts.

For your first loan we will look at an amount of up to 3 times your shares after your 10 weeks plus of saving. After you have proven your record on the first loan we can look at bigger amounts in the future.

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.

Your shares are held (locked in) as security up to the value of your loan. This means that you cannot withdraw your shares while you are repaying the loan. If your shares are higher than your loan, you can withdraw the surplus.

We can open a sub-account for you called STAMPS if you wish to continue saving after you borrow. The funds in the Stamp account are not held against the loan and are available to you at any time.

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.

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.

Peter Murphy, Member Since 1995