Cavan Credit Union offers an excellent range of loan products. Our personal approach is aimed to help you – our members.
There are many benefits to borrowing from Cavan Credit Union:
Low interest rates for loans.
We don’t charge any processing or documentation fees.
Free loan protection insurance – your loan is paid off in the event of your death.*
No penalties for paying off your loan early.
Easy application process and speedy decisions.
You as a member, benefit from any surplus that we make by way of a yearly dividend.
You get money back on your interest paid if a loan interest rebate is applied.
You pay the interest on the reducing balance of the loan: therefore you pay less interest as the loan decreases!
*Terms and conditions apply – please ask a member of staff for details.
Standard Loan Rate 12%. (APR 12.74%)
Larger Loan Rate 8.5% (APR 8.84%)
Car Loan Rate 9.9%. (APR 10.39%)
Education Loan Rate 6.9%. (APR 7.12%)
Secure Loan Rate 3.9%. (APR 3.96%)
Loan Protection Insurance
One of the benefits of credit union membership is the free insurance provided on savings and loans. Upon the death of a member, his or her savings balance is increased and the outstanding loan balance is cleared so the family are not responsible for the debt (within certain limits and with certain conditions).