Loans
Looking for a loan?
Find the perfect loan for you
For many of our Members, one of the main reasons they join Dungannon Credit Union is to avail of our loans facility. Over the years Members have come to realise that Dungannon Credit Union, when compared to other financial organisations, offers a personal, flexible service at a fair rate of interest.
Why choose a Credit Union Loan?
Whatever your goals, a loan from Dungannon Credit Union is a smart way to finance them. For nearly 60 years we’ve been offering an alternative to banks and credit cards and their high charges.
• Rated ‘best service provider’ by 98% of Members.
You could borrow up to £20,000 above your share balance to a maximum of £35,000 over 1 - 10 years at competitive rates. (10 Year term applies to Tier 3 loans above £15,000)
Use our loan calculator to get a free quote in seconds that won’t impact your credit score.
Alternatively, call us on 028 8772 3729 to apply.
Credit Unions are all about responsible lending and prioritising the members financial security. There are a number of reasons why DCU is the best place to come for your lending needs.
Reasons to take a loan with DCU:
- All potential borrowers are given a fair hearing.
- Straight-forward terms and conditions.
- No hidden fees or charges.
- Competitive loan interest rates.
- More affordable compared to credit card interest rates.
- No financial penalties or hidden costs for early repayments
- Loan Interest Rebate*
- Loan Protection insurance - at no direct cost to you the Member.
- Flexible repayment plan: allowing you to repay the loan ahead of time without penalties or restructure your repayments if you are experiencing financial difficulty and can no longer afford them.
A sample of what we lend for...
Home Improvements
Car Purchase or Repairs
Holidays
Weddings
Education
Medical Expenses
Personal Expenses
Loan Calculator
See how affordable a DCU loan is
Maximum Loan Term :
12.63%
12.63%
12.63%
This calculator is for illustrative purposes only, to give you, the borrower, an overview of the potential cost of borrowing. The Credit Union, or any of its staff, cannot be held responsible for any errors. Please note that this calculator only provides an indicative quote and actual repayments may vary.
Maximum Loan Term :
12.63%
12.63%
12.63%
This calculator is for illustrative purposes only, to give you, the borrower, an overview of the potential cost of borrowing. The Credit Union, or any of its staff, cannot be held responsible for any errors. Please note that this calculator only provides an indicative quote and actual repayments may vary.
Online Banking
Stay in control of your finances no matter where you are, and at any time with our online banking services.
Representative examples below of Tiered Loans available will help show you the typical costs associated with a DCU Loan.
| Loan Type | Amount | Term | Repayment | APR | Total Amount Payable |
|---|---|---|---|---|---|
| *Tier 1 | Loans up to £7,499 (Eligible for Interest rebate) | 3 Years | 36 Months | 12.63% | |
| Example: £5,000 | £166 | £5,974 | |||
| *Tier 2 | Loans 7,500 - £14,999 | 4 Years | 48 Months | 10.42% | |
| Example: £10,000 | £253 | £12,163 | |||
| *Tier 3 | Loans £15,000 - £35,000 | 5 - 10 Years | 60 Months | 8.25% | |
| Example: £20,000 | £405 | £24,303 | |||
| *Winter Fuel Loan | £500 | 6 Months | £85 | 8.33% | £512 |
*Secured Loan
No guarantors required
This is a loan equal to cleared funds in your account that can be paid out over the counter. Your savings are then held as collateral and could even continue to grow as you pay off your loan
*Winter Fuel Loan
Available at any time of the year
No top ups available
Repayable over maximun 6 month term
Special interest rate of 8%
Top up or additional loans
Top ups are available on existing loans provided:
- Affordability needs to be established.
- Interest due must be cleared on existing loan before new loan is issued.
If the top up amount brings the Member’s outstanding balance to a higher tier (See above for tiered rates). The new discounted rate will be applied to the total (outstanding balance) Member will only be entitled to the interest rebate on the Tier loan that has been cleared.
Loan Interest Rebate
The loan interest rebate is another way we like to give back to our members. This is an extra benefit to our borrowing members. As borrowing is the life blood of the Credit Union we deeply appreciate our members who turn to us for their borrowing needs. The loan interest rebate is a percentage of the interest paid by the borrowing member, which is given back to them at the end of the year from the surplus of income. The percentage is announced each year at the AGM and is then paid into the members’ savings accounts the following morning. In 2023 a 35% Interest Rebate was returned to members. Another great reason to come to us for lending!
For more information see Loans FAQs. For loan enquiries, call us on 02887723729 or fill our loan enquiry form.
Loan Protection Insurance
Loan Protection Insurance covers eligible loans at no direct cost to the member. In the event of a Members death, outstanding loan balances are repaid in full, subject to T&Cs. Members can take out a Credit Union loan in the full confidence that their dependents will not have to pay the remaining loan off when they die.
For more information see Loans FAQs.
Loans are subject to approval. Terms and conditions apply. If you do not meet the repayments on your loan, your account will go into arrears. This may affect your credit rating which may limit your ability to access credit in the future.
