Buying A Car? Doing Some Home Improvements? Time For A Holiday? OR Getting Married?
Comhar Creidmheasa Ghaoth Dobhair Teo will consider loan applications from members for any purpose. Each application is treated in the utmost confidence and will be considered on its own merit. It is the credit union’s policy to meet the borrowing requirements of as many members as possible, depending on the available funds.
Comhar Creidmheasa Ghaoth Dobhair Teo are here to help with whatever you have in mind. Providing loans is one of the main functions of a Credit Union and we provide loans on very reasonable terms to our members. 93.5% of all loan applications were approved in 2016.
WHAT YOU NEED WHEN APPLYING FOR A LOAN
borrowing less than or equal to your shares you may be asked for the following documentation:
1.Photo ID: Valid Passport or Drivers Licence
2.Verification of address (dated in the last 6 months)
3.Verification of PPS number ( Payslip, P60 or P45)
If applying for a loan larger than your savings you will be asked to provide the following:
1. Proof of Income – Payslips, Social Welfare receipts, recent income assessment, Tax Clearance Cert depending on your own circumstances.
2. Bank Statement: the last 3 months statement on your current account.
3. Photo I.D: Valid Passport or Drivers Licence.
4.Verification of Address: Utility bill or bank statement dated within the last 6 months
5. Verification of PPS number Payslip, P60 or P45)
Benefits of borrowing with Comhar Creidmheasa Ghaoth Dobhair
- There are no hidden fees or transaction charges.
- Our interest rates are fair and reasonable compared to others in the market.
- Repayments are calculated on your reducing balance, so you pay less interest with each repayment.
- Your credit union loan is insured – subject to terms and conditions – at no direct cost to you. Other lenders charge for this.
- You can pay off your loan early, make additional lump sum repayments or increase your regular repayments, without a penalty. Other lenders may charge you extra for paying them back faster!
- As a Local Community co-operative, our profits are shared and we sponsor local community groups
- Your savings are fully secure. They are protected by the Irish Government’s Deposit Guarantee Scheme (up to a maximum of €100,000). There’s also the Irish League of Credit Unions’ Saving Protection Scheme and our fidelity bond.
Loan Protection Insurance
- Comhar Creidmheasa Ghaoth Dobhair offers all eligible members Life Savings Insurance and Loan Protection Insurance at no direct cost to you, the member.
- The insurance is underwritten by the credit unions’ own insurance company, ECCU Assurance DAC and is paid for by credit unions.
- You should enquire when making your loan application to see if you are eligible.
What is Loan Protection Insurance?
In Comhar Creidmheasa Ghaoth Dobhair, should a member with an outstanding loan balance die, the balance is repaid in full, subject to terms and conditions and certain cover limits which apply.
If you are an eligible member, this means that you can borrow from Comhar Creidmheasa Ghaoth Dobhair in the full confidence that your dependents will not be obliged to repay the outstanding loan balance in the event of your death. The insurance benefit payable is the amount of the member’s outstanding loan balance.
When borrowing from Comhar Creidmheasa Ghaoth Dobhair, a loan is eligible for cover if:
- The borrower has not reached their 70th
- The borrower can confirm they can actively and regularly perform all the usual duties of their occupation