Trip to New York
from €30.49 per week
Don’t blow all your savings for that next big purchase, take a Covered Loan with us instead. Borrow at a discounted rate and keep all your savings intact.
on your MFCU Covered Loan
|MONTHLY REPAYMENTS (5 years)||€98.98||€593.89|
|TOTAL COST OF CREDIT||€5,938.94||€35,633.67|
for an MFCU Covered Loan
You must be a registered MFCU member to apply for a loan with us. We welcome any new members that live, work or study within our common bond to join our North Dublin credit union today.
Check your repayments using our loan calculator. If you’re happy with the repayments, submit your details and we’ll call you back within 24hours to jump start your loan process
Yes, an MFCU Covered Loan is secured by the savings you have in your account. You can borrow up to the value of your savings, repay at a discounted interest rate and your savings will still be there for you when you’re finished paying off your loan.
A MFCU Covered Loan allows you to borrow an amount equal to your savings in a fast & secure way. It’s one of the easiest & cheapest ways to borrow from us, with our discounted interest rate of 6.99%.
You can use a MFCU Covered Loan for almost anything you need to borrow for. Whether that be to pay for a holiday, to fund a wedding, or for something else entirely – you can make it happen with a Covered Loan from Member First Credit Union.
A secured loan uses security or collateral to support the loan (like a mortgage), while unsecured loans do not attach collateral to the debt. For instance, with the MFCU Covered Loan, members can borrow at a signifcantly reduced interest rate as the loan is secured by their savings with us.
Yes, of course! With MFCU, there is no penalty for early or lump sum repayments on our loans (excluding Mortgages).
We aim to come back to you with a decision within 24 hours of receiving your loan application. With an MFCU Covered Loan, we can approve the loan very quickly because we don’t need supporting documentation as the savings are used as security.
Lending criteria, terms and conditions apply. Member First Credit Union is regulated by the Central Bank of Ireland.
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.