Loans Enquiry
Documents Required for Personal Loans
PAYE
- 3 Payslips (monthly - to be dated within 3 months before application, weekly within 1 month before application)
- 3 Social Welfare receipts
- Employment Detail Summary for most recent tax year (available from Revenue/ROS My Account)
- 3 Months up to date Bank Statements on all bank a/cs including Revolute, N26 etc.
- Proof of PPSN
- Employment Detail Summary (prior year) may be requested (available from Revenue/ROS My Account)
- Copy of contract of employment may be requested
- Proof of Purpose may be requested for larger loans
- Credit Card Statements may be requested
- Mortgage Statement may be requested
- Proof of Other Income may be requested
Accessing Electronic Bank Statements
If you consent to use our open banking tool:
True Layer (which is a global open banking platform) will also be a controller of your personal data. For you to understand what they do with your personal data, and how to exercise your rights in respect of their processing of your personal data, you should review their Privacy Policy which is available here https://truelayer.com/en-ie/legal/privacy/
This is not an exhaustive list and you may be requested to provide further information
Loans below €2,000 require:
- 1 payslip/DSW slip
- 1 Bank Statement and Proof of PPSN
Self Employed
- 2 most recent years of Accounts
- Tax Assessment for most recent tax year (in full)
- 3 Months of up to date Bank Statementson all bank a/cs including Revolute, N26 etc.
- Proof of PPSN - which should be available on Tax Assessment above
- Proof of Purpose may be requested for larger loans
- Credit Card Statements may be requested
- Mortgage Statement may be requested
- Proof of Other Income may be requested
This is not an exhaustive list and you may be requested to provide further information
Loans below €2,000 for self-employed require:
- Notice of Assessment for prior year
- 1 Bank Statement and Proof of PPSN
Note
- You can apply online
- Duration normally 5 years
- Where a partners income is needed to assess the loan you may be asked to open a joint account or partner will have to sign to say they consent to their financial information being considered in the loan application
- All loans above €500 will result in the Credit Union to making an application to the Central Credit Register as part of Loans Approval and performance on all loans above €500 have to be reported on this register.
- Collateral is part of the Loan Assessment and you may be requested to secure some of your shares against the loan. Larger loans may require security. The Credit Union does not accept Solicitors Undertakings as collateral or security.
- If you are related to a Board Member Management (spouse/father/mother/sibling/child or cohabitant/civil partner or business that Board/Management have interest in ) this person cannot be included in loans approval. Please allow extra time for these loans to be approved. These loans are treated in confidence the same as any other loan and your loans existence and approval will not be communicated to anyone outside of the loans process.
- Guarantors - where they are needed as part of Loans Approval they will be fully assessed and liable for the debt should the member default. Being a Guarantor also is considered as part of lending on the guarantors a/c. Legal advice should be sought.
- Cooling off period of 14 days
- €10 needs to kept in the account at all times to maintain continuity of membership.
Documents Required for SME Loans
- 3 Years Accounts
- 3 Years Tax Assessment
- 12 months Business Bank Statements
- 12 months Personal Bank Statements
- ID if out of date
- Tax Clearance for Business and Individuals
- Recent Aged Debtors
- Recent Aged Creditors
Business Plan to include
- Executive Summary - including product/service
- Projected P&L for 3 years
- Projected Balance Sheet for 3 years
- Projected Cashflow for 3 years
- Purpose of Loan
- Credit Terms Debtors/Creditors
- Market Research Completed including evidence
- How is Marketing conducted in general?
- Description of the business, the market & the competition & position in the market (Competitive Analysis)
Documents Required for Club Loans
This is not an exhaustive list and you may be requested to provide further information
- Details of Legal Structure & Club Constitution/Rules if not already submitted
- Income & Expenditure Statement and Balance Sheets a/c for last 3 Years
- Projected Income & Expenditure for the next 3 Years
- Bank Statements for the last Year
- Business / Strategic Plan
- Detailed Project Budget to include all Funders and Detailed costs
- Project Specification including costs (may need to be signed off by quantity surveyor)
- Evidence of Grant Approvals & any T&Cs attached
- Status of any Grants not secured & Timelines for approval
- Fundraising initiatives planned
- Valuation of Property
- Planning Permission - where applicable
- Confirmation from National Body that no other loans exist and permission to facilitate charge on property
- Expert reports on the project including preliminary work
- Detailed quotes from builders
- Details of any cost overruns to date or anticipated
Loan Enquiry Form
Please complete all your details in the form below, and click submit when you have finished.
Alternatively, download and fill the PDF form below and bring/send to us.
Warning:
If your loan is in arrears by more than 9 weeks then it will be reported as being in arrears on CCR.
Should this occur it may affect your credit rating going forward.
These reports use information automatically generated from our IT system and the Credit Union cannot interfere in this process.
