Today marks an exciting milestone in the evolution of Member First Credit Union as we announce the launch of eLoans – our new remote loan application facility.
We are delighted to introduce eLoans at a time where consumer confidence is on the rise and people are looking to borrow again to fund purchases such as cars, home improvements and special events such as weddings.
With eLoans, both new and existing members can apply for a loan between €500 to €80,000 through a simple, safe and fast application process.
So what’s the eLoan Difference?
- Apply online in just a few minutes
- Quicker Loan Approval Time – within as little as 3 hours*
- Funds could be in your bank account within one business day
- Loans between €500 to €80,000
- 100% remote loan application process
- Members can find out in less than 2 minutes through our Affordability Calculator if they qualify for a loan
- Greater privacy as the application can be conducted in the comfort of your own home
Member First Credit Union, Ireland’s Next Generation Credit Union, has launched eLoans today. A full online loan application process that promises its members a simpler, safe and fast application process for loan amounts between €500 and €80,000 to be repaid over 1 to 5 years. Members can expect approval and funding within one working day with market competitive rates.
According to CEO of Member First Credit Union, Fiona Cunningham “Member First Credit Union is committed to becoming the Next Generation Credit Union. Taking everything that makes a Credit Union unique but delivering it in a way that is relevant and reflective of the lifestyle of the modern day consumer as we champion member experience, accessibility and convenience. There will be a strong demand for eLoans as our members move away from long queues and lengthy applications in person and freeing up our branch network for those that still want to avail of a face to face experience.”
How eLoans Work
Applying for a loan with Member First Credit Union is quick and simple and the entire process is conducted online or on the phone. Customers can find out in less than 2 minutes through our Affordability Calculator if they qualify for a loan. After going through the full application and uploading all supporting documents, funds can be with the customer within one business day.
The online application process involves uploading documents to assist verification of key customer details: a Utility Bill, copy of Drivers Licence or Passport and 3 recent monthly bank statements. In addition the applicant will require a positive Irish Credit Bureau check.
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.
Warning: The cost of your repayments may increase
*Lending Criteria, terms and conditions apply. Credit facilities are subject to repayment capacity and financial status and are not available to persons under 18 years of age. 3 hour loan approval decision applies to active members with fully completed loan applications processed within 3 hours 9.30am – 1pm, Mon-Fri excl. bank holidays. Excludes applications to restructure or clear existing credit facilities and applications received through our branch network.