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About Our Share Covered Loans

Secured Loan: 5% Variable – 5.12% APR

Loyalty Loan: 3.5% Variable – 3.56% APR

One of the easiest & cheapest ways to borrow is to use your savings as security against the loan.

We offer two types:

Secured loan 5% (APR 5.12%)

  • No min, max €40,000
  • 7 years max term
  • You can have other loans with Kilrush Credit Union


Loyalty loan 3.5% (APR 3.56%)

  • Min loan €5,000, max €40,000
  • 5 years max term
  • You don’t have any existing borrowings with Kilrush Credit Union


Loan Secured by Savings allows you to borrow an amount equal to your savings in a fast & secure way.



  • Prompt assessment, less supporting documentation required
  • Quick approval for most loan applications
  • A very competitive rate of interest
  • Flexible repayment options
  • Your savings will continue to earn any potential future dividends
  • It is often easier to repay a loan than try and save that amount again
  • Helps you establish a line credit; enabling future credit opportunities
  • You get to pay out for what you need while keeping your savings intact


Over 55?

Especially if you are over the age of 55 and have savings with us, this is the best loan option for you.

By leaving your savings intact in your account, you will not affect your free Life Savings Insurance with the Credit Union, which would reduce if the balance of your money in savings fell after your 55th birthday.

Find out what you can afford to borrow

Loan Calculator

Features of Share Covered Loan

A Share Covered Loan is a cost-effective way to access funds while leaving your savings untouched. It can take a long time to build up your savings, so when it comes time to making that big purchase you may be reluctant to withdraw your savings. With a Share Covered Loan from Kilrush Credit Union, you don’t have to.

No Stress

We don’t want you to worry, so we’ll be here to answers all your concerns.

We Get Personal

With us you are more than just a number. It’s about more than just your credit history.

No Fees or Charges

Banks charge you fees to use your account. We don’t. Nothing. Zilch. Zero.

Reducing Interest

The more you pay off the less interest you pay. Nice!

Share Covered Loan - Eligibility

If you are a member and you have shares saved then you may apply for a loan. No two cases are the same and each loan application will be looked at on its own merits. However some general guidelines about the criteria for loan assessment are as follows:


Are you saving regularly and how much you have in your savings.


Your ability to repay the loan.

History & Credit Check

Your previous history with the credit union and your credit check with ICB/CCR.

Not a member of Kilrush Credit Union?

Become a Member

Warning: All loans subject to a variable interest rate and we may change the interest rate, subject to prior notice in writing. This means the cost of your monthly repayments may increase or decrease.

Kilrush Credit Union
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