Straight away! Sligo Credit Union welcomes loan applications from our members, regardless of how long they have been a member.

Contrary to popular belief, you do not need to have 25% of the amount you wish to borrow in savings/shares. Each application is dealt with on it's own merit. You need to show you have the capacity to make repayments as well as having enough left to live on. In addition, it is not imperative that you save for a specified period. The loans team can prove repayment for a brand-new member by seeing other regular savings or loans discontinuing elsewhere. Both measures outlined can prove adequate comfort to us that is sufficient for the proposed loan

You can make an application online by logging into the Member Login area (If not yet registered for online banking, you can Register Here). Alternatively, you can apply at one of our branches in Sligo Town, Collooney, Drumkeerin, Boyle, or Keadue. Lastly, you can phone us on 071-9317500 to make an application over the telephone. For full details on the loan application process, CLICK HERE.

After you submit your form online, there will be a notice highlighting that your loan application is ‘Awaiting Review’. The Loans Team has received all relevant documents - please do not resubmit your application form. If any more information is required, we will be in touch with you, even if the status has changed.

It is important to include specific documentation when applying for a loan with Sligo Credit Union, including:

• 1 Recent Payslip*
• 3 Months Recent Bank Statements*
• Photo ID*

*We may require more information.*Self-employed loan applicants, please see the below FAQ.

PDFs are the only type of document that we accept with your loan application form. Screenshots are not acceptable. Open Banking is now in place, which allows your bank statements to be securely shared with us. Therefore, you do not need to print or order statements from your bank. Please read the Open Banking FAQs for more information.

Prior to entering a credit agreement, Sligo Credit Union is obliged to gather sufficient information to enable us to assess whether the credit being applied for is suitable for you, the borrower, and that the agreed repayments will be affordable over the duration of the loan. The nature of the documentation we require may differ from case to case but will typically include some or all of the following:

• Most recent set of accounts for your business.
• Form 11 Returns.
• Your latest Revenue Notice of Assessment.
• Up-to-date business bank statements for 3-6 months (note - up to 12 months may be required where seasonal factors affect the business).
• Three recent pay slips where the business income is supplemented by income from paid employment.
• A Tax Clearance Cert for the company/sole trader/partnership or independent confirmation from a member of a recognized accountancy body that the business taxes are paid up to date.

Apply for what you need, and the Lending Officer will decide based on the information you have supplied, including the ability to repay and your savings record with us. The maximum loan amount that Sligo Credit Union can issue is €100,000.

We lend to our members for everything from household expenses or for a larger purchase, like buying a new car. It's important to be honest and tell us why you want a loan, and to be realistic at what you really need to borrow and can afford to pay back. We do advocate that you make smart decisions now, so that you don't put yourself under pressure in the future.

The first thing you need to do is contact Credit Control on 071-9317500 as soon as your circumstances change. We always work closely with our members and come up with the best solution to help you get through this difficult period, whether it's short term or long term. We are here to work with you, and there are always options.

The Central Credit Register (the Register) is a centralised system that collects and securely stores information about loans. It is managed by the Central Bank of Ireland, under the Credit Reporting Act 2013. The Register collects information on loans of €500 or more, including:

• Overdrafts
• Personal loans