Green loan
Borrow for home energy improvements or an electric or plug-in hybrid vehicle as a member of this County Clare credit union.
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The loan covers wall, attic and floor insulation; window and door upgrades; ventilation; heat pumps and solar panels; sustainable water or heating systems; boiler upgrades and pipe insulation; and energy-efficient heating controls. It also covers battery electric or plug-in hybrid vehicles and home charging units.
You borrow money from St. Francis Credit Union and repay it with interest. The advertised rate is 6.5% variable, with a typical annual percentage rate (APR) of 6.71%. Its representative €10,000 loan over five years has 260 weekly repayments of €45.07 and total repayment of €11,719 if the APR stays unchanged. This is an illustration, and actual repayments may vary.
You can repay this variable-rate loan early, make extra lump-sum repayments or increase regular repayments without a penalty. Missing repayments puts your account into arrears and may damage your credit rating and future access to borrowing.
Eligibility
- You must be a member. The normal route is to live or work within the credit union’s local membership area, called its common bond. It includes Ennis, Shannon and the other localities listed on the official common-bond page. Membership also covers members of the same household and family of another member who works in those localities.
- You normally need to have been a member for two weeks before your first loan application. The credit union can accept and approve earlier applications for new members in exceptional circumstances.
- Membership requires a minimum €10 share balance at all times, plus a €1.27 entrance fee for people over 16; there is no entrance fee for those under 16. The loan officer decides how much money you need in your shares account before applying, according to the loan requested.
- Approval depends on your ability to repay. The lender checks the Central Credit Register for over-indebtedness or a poor credit history. All loans require approval.
- Some or all of your share savings are locked as security, in an amount agreed when you apply. You cannot withdraw the pledged savings while repaying the loan, but you may withdraw savings above that amount.
How to apply
- Statut
- Candidatures au fil de l’eau
- Conditions de cette période de candidature
- Membership and loan approval required. Normally two weeks of membership before a first application; earlier applications may be accepted in exceptional circumstances.
Join St. Francis Credit Union at one of its nine offices with identity, address and PPS-number evidence and the required membership funds. Address evidence must be dated within six months; mobile-phone bills are not accepted, and a Public Services Card is not accepted as PPS-number proof.
Apply at an office, call 065 6828305 during office hours, or email your loan details to loans@stfranciscu.ie. Registered members can also apply through their online account or the mobile app; the online service requires an Irish registered mobile phone. Joint accounts requiring two signatories for withdrawals have viewing access only online.
Provide three months of recent bank statements and credit-card or mortgage statements where applicable, plus identity, address and PPS-number proof. For income evidence, employees need three recent payslips, social-welfare recipients two recent payment receipts, and retired applicants proof of all pensions. Self-employed applicants need the two most recent years of trading accounts and tax assessments or Form 11, tax-clearance or tax-position confirmation, and three months of personal and business bank statements. The loan officer may request additional documents case by case.