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How To Apply for a Loan

HOW DO YOU APPLY?

When you would like to apply for a loan you can do so in a variety of ways:

 

WHAT DO YOU NEED?

To assist us in making a speedy decision on your application the following documentation should be submitted:

  • A valid photo I.D. (i.e. passport, driver’s licence)
  • 3 most recent payslips for all parties* whose income is used to support the loan application.
  • In the case of the self- employed we will require the most recent audited accounts together with a letter from your accountant confirming that your tax affairs are up to date.
  • 6 months bank account statements for all parties whose income is used to support the loan.
  • Most recent Credit Card statement for all parties whose income is used to support the loan.
  • Proof of address.

* Parties whose income is used to support a loan include the Guarantor where applicable.

Please note: If you have a mortgage we are obliged to obtain confirmation that your mortgage is up to date and being paid in accordance with the original mortgage agreement.

In all cases the Credit Union reserves the right to request additional documentation.

 

WAYS TO REPAY YOUR LOAN

We have several ways to make it easier for you to arrange your repayments.

  • You can set up a Direct Debit from your bank account on a weekly / fortnightly / monthly basis and remove the hassle of having to think about your repayments.
  • Front counter transactions can be processed during our office opening hours.
  • Debit Card payments can be taken at the counter or over the phone.
  • At Mallow Credit Union Ltd. we operate Payroll Deduction Schemes with employers in the area. This scheme allows employees to have a desired amount of their wages paid into their savings or loan account at the Credit Union. Having some of your wages deducted at source is a very convenient way of saving money or paying back a loan.Please check with your payroll department or our office if this facility is available to you.

 

JOIN OUR PAYROLL DEDUCTION SCHEME

If you have several employees interested in having a credit union payroll deduction scheme, then please contact our office on 022 21121 for more details.