5 reasons to switch your Provident Loan to Member First Credit Union - Member First Credit Union

5 reasons to switch your Provident Loan to
Member First Credit Union

News that Provident will no longer trade in Ireland may be a shock to its borrowers. But we’re here to show you how MFCU can help. We offer great value loans and we’re a not-for-profit and member-owned. Here’s 5 reasons you should consider switching your loan to Member First Credit Union.

Save over €500 on credit when you switch to MFCU 

(see calculations below)

1. Cheaper Repayments

At MFCU, we offer Personal Loans at a rate of 10.99% (11.56% APR). When you compare this to a Provident Loan rate of 157.3% APR, the difference is astronomical. We also offer even lower rates – as low as 7.99% (8.23% APR) on some promotional loan options. Below you’ll find a weekly repayment example for our Personal Loans.

Lender Amount Borrowed Interest Rate (APR) Total Cost of Credit Weekly repayments (paid in 1 year)
MFCU
€1,000
11.56%
€1,057.01
€20.33
Provident
€1,000
157.3%
€1,560.00
€30

Right from the start, an MFCU loan will have a better impact on your wallet. And that’s all that matters at the end of the day. Calculate your repayments now with our Loan Calculator.

2. FREE Loan Protection Insurance

Further to our great value loan options, we also offer peace of mind as standard. With FREE Loan Protection Insurance, we take the anxiety out of borrowing.* Furthermore, we’re a friendly face you can speak to in times of difficulty. With us, you’ll always get a sympathetic ear and a constructive approach to making alternative arrangements if they are required.

3. Your community benefits

For the last 60 years your local credit union has been supporting your community. Since the inception of Member First Credit Union in 2014, we’ve donated over €1 million to your local community. Each time you borrow and save with us, you’re funding our support of these very worthy causes. We support everything from sports clubs to Ladies Clubs. Men’s Sheds to Residents Association. Local schools, Third-Level Scholarships and even life-saving defibrillators. Full details of our Community Fund, including how to apply for sponsorship for your community group, is available here.

4. The more you pay, the less you pay

Interest calculated on the reducing loan balance makes a big difference to your weekly repayments. This means that every week you make a repayment, your loan interest is smaller for the next repayment – the more you pay, the less you pay. There’s also no penalty for early repayment of your loan, so if you find yourself comfortable with your weekly repayment you can increase it at any time ­– or even top up your loan for a larger amount.

5. Local branches, and lots of ways to pay

Member First Credit Union has seven branches across North Dublin. As a member you can use any branch at any time. Here you’ll find information on our branch locations and opening hours. We have a wealth of knowledge with Qualified Financial Advisors ready to help you on your financial journey.

You can also manage your account over the phone, including payments with your debit card, loan applications and general support. Call us now on (01) 851 3400.

And every member enjoys FREE online access. With our brand new MFCU Mobile App, you have instant access to check your balance, transfer funds and even apply for a loan. Learn more about the MFCU Mobile App here.

Ready to Switch?

Check out our loan calculator here.

Calculate repayments

If you’re ready to switch your loan to Member First, head over to our Loans page to review your options. Remember, to be eligible for a loan from us you’ll need to become a member. You can join us and apply for a loan right away. And you can join us online here, so your loan application can be assessed in no time.

*Lending criteria, terms & conditions apply.

WARNING: 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.

More from MFCU

Borrow from €500!

MFCU pERSONAL LOANS

Whatever it is you dream about – talk to us today about our Great Value Personal Loans.

MFCU Logo Tagline

You are currently visiting via Internet Explorer

We recommend using Google Chrome, Safari or FireFox for the best website experience

Register with MFCU

Register for Online Banking

As a member you can enjoy free Online Banking with MFCU.

Become a Member

You can join us online through our all new digital membership application. Verify your ID and upload your documents remotely.

Have you heard about our brand new MFCU Mobile App?

Enjoy all the benefits of Online Banking on your mobile device.

Register with MFCU

Join MFCU NOW

You can join us online through our all new digital membership application. Verify your ID and upload your documents remotely.

You can also drop into any local branch to join.

Register for
online banking

If you are already a member, and you want to register for online access, click the link below to get started.