Loans at Enniskillen Credit Union Limited
The two most important things about a loan are, being able to borrow the money and being able to repay it. At Enniskillen Credit Union we encourage you to manage your money carefully by structuring loans around your needs and your ability to repay.
Why a Enniskillen Credit Union Loan is different;
- There are no administration charges, hidden fees or transactions charges.
- Credit union interest rates are fair and reasonable and capped by law.
- Repayments are calculated on your reducing balance, so you pay less interest with each repayment.
- 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!
- In the event of your death, your credit union loan is insured - subject to terms, conditions and eligibility criteria - at no direct cost to you.
Your application is treated in the utmost confidence and will be considered on its own merits. In deciding, whether or not to grant the loan, we take into account your record of savings and loan repayments, as well as your ability to repay.
Our loan rate of 12.68% means you can borrow at a reasonable rate of credit compared to other financial providers.
Loan Interest Rebate
Did you know that you may receive a rebate on the interest you pay on a loan?
Every year as part of our AGM we announce our dividend and rebate percentages. These amounts are what the credit union gives back to our membership.
The percentages are subject to what surplus the credit union has remaining after our expenses for the year so we can't guarantee amounts or if there will be any.
However we have been delighted to present to our membership a loan rebate of 10% in each of the last 4 years (2015 ,2016 ,2017 & 2018), with an increase to 15% in 2019. Meaning that you would receive that percentage back of the interest you paid on your loan in the year.