Q. What is a Credit Union?
A. A credit union is a financial co-operative, owned and controlled by its members.

Q. Who owns the Credit Union?
A. The members own the credit union. It is a Non-Profit organisation, unlike the banks, where making profits for its shareholders is the primary motive.

Q. Who runs the Credit Union?
A. A voluntary board of directors govern the credit union. These directors are elected by the members at the Annual General Meeting. Professional staff run the credit union operations.

Q. Who can join Dundrum Credit Union?
A. Any person living or working in our common bond area can join the credit union. If you are unsure whether you are eligible to join, please contact our office.

Q. What is the common bond?
A. A common bond defines the area within which the credit union can operate. People living or working within the common bond are eligible to join the credit union.

Q. What do I need to join the credit union?
A. You will need 2 forms of identification to join – photograph ID e.g. Passport/Drivers Licence and proof of address e.g. ESB/Phone/Gas Bill, bank statement etc. and if you are joining under the Working Code you will also need to bring with you proof of your employment e.g. a letter from your employer and/or some recent payslips.

Please note that new members under 16 years can use their birth certificate as proof of ID.

We also ask for a copy of your Personal Public Service Number (PPS Number).

If you have any queries regarding these requirements, please contact us.

Q. Who can borrow from Dundrum Credit Union?
A. Only members are eligible to apply for loans with Dundrum Credit Union

Q. How long do I have to be a member before I can borrow?
A. There is no strict time limit on being a member to apply for a loan. Once a loan application has been made, you should normally receive a response within 24 hours. Many loans are applied for and paid out on the spot (subject to certain criteria).

Q. How much can I borrow?
A. Again, there are no strict amounts a member can apply for as each application is assessed on its own merit and on the ability of the member to repay the loan in full

Q. How do I apply for a loan?
A. You can apply for a loan in 3 different ways:

• You can apply online by becoming a registered user. To register now click here. Alternatively you can download our loan application form by clicking here.
• Call in person to any of our offices
• Call our Phone-A-Loan 1850 747 100

Q. What is your current loan rate?
A. Our interest rate for standard loans is 9.95% (10.42apr)

Our interest rate for Secured Savings Loans is 5.95% (6.11%apr)

Q. How do I repay my loan?
A. You have several options to repay your credit union loan. You can pay by Direct Debit, Salary Deduction, Standing Order or by calling in to any of our three offices

Q. Do I have to save?
A. Members are encouraged to continue saving at all times, even when repaying a loan. When you save on a regular basis no matter how small the amount, you will be surprised how quickly your savings/shares can grow.

Remember your savings/shares and your loan are protected by Loan Protection/Life Savings Insurance (LP/LS) at no extra cost.

Q. What is Loan Protection/Life Savings Insurance?
A. Loan Protection Insurance is the insurance cover Dundrum Credit Union provides on the lives of eligible members with credit union loans. Provided you are in good health and engaged in your normal life occupation, your loan is covered by insurance. Should a member with an outstanding loan balance die, the balance is repaid in full, subject to certain cover limits which may apply. You should enquire when making your loan application to see if you are eligible.

Life Savings Insurance is a Life Insurance Cover that Dundrum Credit Union provides to all eligible members as a way of encouraging you to keep your savings in the credit union and to also save on a regular basis.

Please ask at the counter for our Loan Protection/Life Savings Insurance leaflet for full details or click HERE for more information.