Credit Union
Consolidation Loan

Great value loans

Interest calculated on reducing loan balance

Over €38 million

Borrowed by members last year


Loan approval rate

Simple loan process

Quick turnaround on standard loans

Credit Union Consolidation Loan

It is easy to accumulate debt through various loans over the years. Why not simplify your finances, by transferring your loans to us for consolidation into one easy and manageable payment?

Apply for a Credit Union Consolidation Loan today or work out an affordable repayment plan with our handy Loan Calculator. Click here for more information about sorting out your finances, and why doing so may be the best new years resolution you can make!

Why choose a Consolidation Loan

  • Combine multiple debts into a single loan payment
  • Improve your credit rating
  • Free loan protection insurance (T&C apply)
  • Interest calculated only on the outstanding balance of the loan
  • No early repayment penalties

infoApply for a loan today. Not a member? You can join & apply at the same time

Loan calculator

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APR means Annual Percentage Rate. The repayment amount quoted is for illustrative purposes only, to provide you with an overview of the potential cost of borrowing. Restrictions may 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.


Repayment Example:

A consolidation loan of €10,000 over 5 years would cost €212 per month at a variable rate of 9.99% (APR 10.46%). The cost of credit is €2,745 and the total amount repayable is €12,745

While every care has been made in the production of this web page, the Credit Union, or any of its staff, cannot be held responsible for any omissions, errors, or other mistakes on the site. This calculator is for illustrative purposes only, to give you, the borrower, an overview of the potential cost of borrowing.

Loan amounts and 99% approval rate is based on figures from 2020. Rates are correct as of 1/02/2022 and are subject to change. Croí Laighean Credit Union is regulated by the Central Bank of Ireland.

Frequently Asked Questions

What is debt consolidation? 

Debit consolidation is combining several payments into one manageable payment. It gives you back control, and can often lower the cost of your monthly outgoings.

How does debt consolidation benefit me?

As you have a single loan, you can often get a longer term which may reduce your monthly payments. If you are including a credit card in your debt consolidation, you may be paying a high-interest rate (>20%) on the credit card balance, and will probably get a much better rate with a debt consolidation loan.

How does a consolidation loan differ from a standard loan

With a consolidation loan, the loan is paid directly to the creditors. This is done to ensure a member doesn’t create unmanageable debt that spirals out of control. MABS is a great free service that offers impartial advice and plays an important role in helping people to deal with problem debt.

What is the maximum amount and term?

You can borrow up to €50,000, for terms of up to 5 years, subject to affordability criteria.

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Need some help or advice?

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