Loan FAQ

There are 4 ways to apply for a loan from Kilmallock Credit Union.

1. CUOnline+ Banking
We offer end-to-end online loans. You can apply online today through our CUOnline+ Banking portal. Click here to apply online.

2. CuMobile Banking App
We offer end-to-end online loans. Download our CuMobile Banking App and apply for your loan online.

3. Over the Phone
You can complete your loan application on the phone with a loan officer and send your supporting documentation by email, by post or drop into our office. Email: loans@kilmallockcu.ie.

4. In-Branch
You can apply for a loan from any Kilmallock Credit Union branch. Find your nearest branch.

You can join Kilmallock Credit Union and apply for a loan straight away. Our lending decisions are based, primarily, on your ability to repay. However, we will also take into account proof of savings with other financial institutions. If you are unsure, it’s best to apply for a loan, and we can advise you as to your options.

Kilmallock Credit Union lends up to €100,000 for all personal, business and agricultural loans and we lend up to €250,000 for home loans (mortgages). Each application is treated with the utmost confidence and will be considered on its own merits.

Use our Loan Calculator to view the repayments necessary for different loan amounts and loan types. This can give you a good idea of how much you can afford to borrow.

At Kilmallock Credit Union, loan approval is based, primarily, on your ability to repay. There is no limit to the amount you can borrow based on your savings. With each application, we take into consideration your income and outgoings, and base your ability to repay the loan on these figures.

While some loan applications require more documentation than others, below is a general idea of what you will need to provide before we can process your loan application.

For loans below €5000

• 2 most recent payslip/receipts of other income (social welfare, pension, etc)

For loans from €5000 – €30,000

• 3 most recent payslip/receipts of other income (social welfare, pension, etc)
• 3 most recent months’ bank statements. Your bank statements should show your income and any mortgage/rent or other loan payments or credit card payments you may have.

For loans above €30,000

• 6 most recent payslip/receipts of other income (social welfare, pension, etc)
• 6 most recent months bank statements. Your bank statements should show your income and any mortgage/rent or other loan payments or credit card payments you may have.

For all loans, we require

• Proof of ID: Valid Drivers Licence or Passport
• Proof of Address: Bank statement or utility bill dated within last 6 months
• Proof of PPS: Payslip, Revenue or Medical Card. Public Service Card NOT acceptable
• We may have your information already on file

Please note: Additional documentation may be required depending on the complexity of the loan application.

Yes, if you have no savings or loan history with us, but you are saving regularly with any other financial institution this will be taken into consideration when assessing a loan application.

To apply for a loan from Kilmallock Credit Union you will need to be a member. But once you join, you can apply for a loan straight away. You are eligible to join once you are part of our common bond.

You can Join Us Online today through our online portal or download our CuMobile App.

Your loan approval is valid for 90 days from the date of approval. If you wish to draw down a loan after this time you will need to contact our credit department.

Generally, loan applicants use guarantors if they believe that they will be unable to secure a loan on their own. This might be the case for applicants who have poor credit or no credit history. Individuals can serve as guarantors or can have guarantors for their loans.

The use of a guarantor on a loan application does not ensure that the loan will be approved, because the person who guarantees the loan is considered part of the loan application, so the credit rating of that person must be evaluated along with the loan applicant or applicants.

A Covered Loan allows a member to borrow funds up to the value of their shares. The shares are held as security against the loan. Covered loans offer a preferential rate of lending and a great way of protecting your savings.

Yes, although we cannot give you any assurances that our original decision will be overturned. You should submit your appeal in writing and supported by any additional relevant information that was not taken into account at the time of our original decision. Full details of our appeals process can be obtained from your local branch.

Communication is key! We can only help if members engage, so if you find your circumstances have changed, and you are struggling to make the payments, call our Credit Control team 063 98355 or email creditcontrol@kilmallockcu.ie and we will review your updated circumstances and explain the options available.

Please click here to find out how we can help you.