Loan Application Process
Become a Member
Once you are living or working within our common bond you are eligible to join us today and start borrowing
Calculate your Loan
Estimate how much you could borrow and calculate your repayments: weekly, fortnightly or monthly using our online calculator
Apply for Loan
Apply for your loan from the comfort of your home or in one of our three offices. Applying for a loan is easy and quick. Apply now!
Sit Back and Relax!
The decisions are made quickly on loan applications, usually within 24 hours
Our Approval Rate
We aim to provide a high quality lending service to our members so you can trust in your Credit Union for your lending requirements.
Representative Example & APR Explanation
A representative example is a term used in financial regulations. The example will help to show you the typical costs associated with a loan for a certain amount.
The Annual percentage rate (APR) is the annual rate of interest you will be charged on a loan. It takes account of all the costs involved over the term of the loan, such as any set-up charges and the interest rate. You can use the APR to compare different loans, as long as you compare them over the same term, for example 5-year loans.
Loan Amount€30,000 | Loan Term5 years | Monthly Repayment€588 |
Rate of Interest - APR6.75% | Total Interest€5,257 | Total Cost of Credit€35,257 |
Loan Calculator
Maximum Loan Term :
6.75%
6.75%
6.75%
*Figures correct as of 01/07/2024 and are calculated on our loan calculator. Loans are only available for members. If you have any questions about our loans, please contact loans@elevatecu.ie Loans are subject to approval. Terms and conditions apply. If you do not meet the repayments on your loan, your account will go into arrears. This may affect your credit rating which may limit your ability to access credit in the future. Elevate Credit Union Limited is regulated by the Central Bank of Ireland. 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.
Benefits of a Elevate CU Loan
Easy Application
You can apply for a loan easily online, by phone, or in-branch
Flexible Repayments
We offer flexible repayment terms to fit your specific needs
No Penalties
There are no penalties for early loan repayment
Competitive Rates
Our interest rates are highly competitive
Local Decisions
We have no hidden fees or charges, and we make fast and local decisions
Peace of Mind
Enjoy peace of mind with loan protection insurance
How to Apply
Online
The fastest way to apply is on our Mobile App or via your Online Account
Call Us
Call us during office hours on 021 489 4555
Email Us
Send an email with your loan details to us at info@elevatecu.ie
Visit Us
Pop into any of our offices in Cork with all your required documentation
Supporting Documentation
Outgoings
- Bank Statements - 3/6 months
- Credit Card Statement - (if applicable)
- Mortgage Statement - (if applicable)
Proof of Income
- PAYE Employee - 3 recent pay slips
- Self-employed - Notice of self-assessment, 3 years certified accounts & accountants report
- Social Welfare - 2 recent payment receipts
- Retired - Proof of all pensions
Photo Id
- Photo ID - valid passport or driver's licence.
- Proof of Address - utility bill, bank statement or Government document dated within the last six months
- Your P.P.S. number on an official document
Loans FAQs
Have a question? See if it's answered in our Frequently Asked Questions below.
Only members are eligible to borrow. You can join the Credit Union as a member and apply for that loan you need at the same time. Members need to be living, working or going to school in our common bond to eligible to join. If a person in your household is a member, all other people in that household can join Elevate Credit Union too regardless of where they live.
Members can apply for a loan online, by email (Link info@elevatecu.ie) by Freephone 1800 272927 or by calling into any of our offices in Fermoy, Watergrasshill or Lwr. Glanmire Rd. in Cork City.
Yes, you can apply for a top up loan at any time; you don’t have to repay one loan before applying for another. If your new loan is based on a different interest rate, our system is enabled to run two or more loans on the same account at the same time.
You can repay your loan by direct debit, wage deduction, electronic funds transfer or by calling into any of our offices. There is also Express Lodgement facilities located in our Fermoy Branch.
Apart from the loan interest, there are no other costs, fees or charges.
Yes, you can switch any Bank Loan or Credit Card Balance to a Elevate Credit Union at a reduced loan interest rate
Straight away! You can join the Credit Union and apply for that loan you need on the same day. The loans officers generally approve loans on the same day or the following.
You can borrow up to €100,000 unsecured for a maximum term of ten years. The maximum loan amount that you can borrow will be based solely on your ability to repay within the agreed time frame.
Elevate Credit Union maintains an insurance policy called the Life Savings and Loan Protection Policy (LP/PS), which activates on the death of an eligible member to increase the value of their savings which can be returned to the member’s estate or family and to clear outstanding loans.
Contrary to popular belief you do not need to have savings or have been a member for a certain time. Each application is dealt with on its’ own merit. You need to show you have the capacity to make repayments as well as having enough left over to live on
Yes, you can apply for a loan online , upload any required documentation to the credit union electronically and sign for the loan remotely using Docu-Sign. Once the loan agreement is signed electronically, we will send the funds electronically to your nominated account
