Our Loans

We like to say YES!

We think it’s great that many of our members join to avail of our loan facility, and thanks to our savers, we have a healthy loan fund. We currently approve 94% of loan applications.

We have the right loan for YOU!

We offer a range of loans. Which one suits you? Click on the icons for more information.

Standard Loan

Standard Loan

Members with the Standard Loan enjoy the interest rate rebate agreed at our AGM, making this popular loan even better value.
Covered by Shares Loan

Covered by Shares Loan

The Covered By Shares Loan is available to members who have enough shares to cover the loan balance.
Auto Loan

Auto Loan

Own your car from day 1 and avoid HP arrangements and balloon payments with our Auto Loan.
Diamond Extra Loan

Diamond Extra Loan

The Diamond Extra loan is the perfect loan when you need to make those larger purchases costing £7,000 or more.
Agri Loan

Agri Loan

The Agri Loan will appeal to farmers to purchase livestock, new or second-hand machinery, and upgrade buildings.
Green Loan

Green Loan

Our Green Loan is an option for members seeking to make their homes more energy efficient.
GO Loan 12.68% or 6.43% APR

GO Loan 12.68% or 6.43% APR

Our GO Loan (Get Organised Loan) is an option for Members aged 16 and 17 years to help toward education or employment expenses. 12.68% APR or 6.43% APR if eligible.

How to apply

Which method do you prefer?

Online

Online

Choose from one of the three options below.

Phone A Loan

Phone A Loan

Ring 028 71267474. Have your account number ready. A member of staff will take your application over the phone during business hours. Outside of office hours, leave us a message and we will ring you back.

In person

In person

Visit us in our Derry or Claudy office where a friendly member of staff will process your application. Click here for our opening hours

Borrowing from Derry Credit Union

  • You must be a member to apply for a loan. Click below to join.
    New members are welcome to apply.
  • You can apply for any loan amount up to £15,000 above the shares in your main account.
  • All loans are individually assessed on the member’s ability to repay.
  • If you fall behind on your repayments, your account will fall into arrears. This may affect your credit rating.

Why a loan with us?

Discover the Benefits of a Derry Credit Union loan

A personal, friendly service.

Three ways to apply.

Six loan types.

Interest Rate Rebate on our Standard Loan.

Attractive rates of interest on our loans with interest charged on the reducing loan balance.

Flexible terms and repayments.

Loan Protection Insurance at no direct cost to you*.

Same-day decision on many loans.

Top-up loan service available where appropriate*.

*Terms & Conditions apply.

Loan Calculator

Try out our quick and easy loan calculator below

Maximum Loan Amount :
Maximum Loan Term :

£

Term

REPAYMENT FREQUENCY
£
APR
12.68%
Repayments
Total
£
APR
12.68%
Repayments
Total
£
APR
12.68%
Repayments
Total
£
APR
12.68%
Repayments
Total

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.

The loan process

It's so simple

Step

1

Apply

Log into Online Banking and submit a loan appication

Step

2

Upload Documents

Provide the required documents for your loan application

Step

3

Sit back

Immediate decision or receive the decision by text message

Documents required for application

We might ask you for proof of ID, proof of income, bank statements or other documents to support your application. You can

  • bring in the original copies to our office,
  • scan and email them to Loansdepartment@derrycu.com or
  • if you are applying online, you can scan and upload them into the secure digital wallet, which is part of the online loan application service.
What we consider when assessing your loan application
  • Can you afford the loan repayments?
  • What is your previous borrowing history with us, if appropriate?
  • Do we have the documents to confirm your income, outgoings, and other debts if required?
Why some applications are not approved
  • Limited income – may not be able to make the repayments
  • Poor credit history
  • Poor loan history with Derry Credit Union

Not a member? No problem!

With advanced biometric facial verification, and the ability to submit proof of ID, we're offering you a safe and reliable way to become a member.