Letterkenny Credit Union is delighted to announce the launch of its new Welcome Loan, designed specifically for members who are new to borrowing or who have not taken out a loan with the credit union in recent years.

This exciting product is exclusively available to members who currently have no outstanding loan balance and who have not borrowed with Letterkenny Credit Union within the last three years. The Welcome Loan opens the door for eligible members to access fair, flexible finance with all the trusted benefits of their local credit union.

Members can borrow up to €50,000, with repayments made easily through direct debit, payroll deduction, or internal transfer from a current account—making loan management simple, convenient, and stress-free.

Why Choose Letterkenny Credit Union?

– A Personal Touch – Friendly, local service from a team who knows you.

– No Hidden Fees – Transparent lending with no surprises.

– Apply Online or In-Branch – Choose the option that suits you best.

– Competitive Interest Rates – Welcome Loan 5.95% APR

– No Penalties for Early Repayment – Pay off your loan faster, at no extra cost.

– Flexibility to Increase Payments – Adjust repayments to suit your circumstances.

– Free Loan Protection Insurance* – Added peace of mind for eligible members.

Speaking about the new offering, [Paul Hume/Chairperson] said:

“We’re excited to introduce a loan that welcomes more members into the credit union borrowing family. The Welcome Loan is all about accessibility, fairness, and supporting members who may not have borrowed with us before—or who haven’t borrowed in some time.”

The Welcome Loan is now open for applications from eligible members. To learn more or to apply, visit https://www.letterkennycu.ie/loans/welcome-loan/, call the loans team on 0749102126 or drop into the office.

Regulatory & Repayment Information

For a €50,000, 10-year variable rate personal loan with 120 monthly repayments of €550.09, an interest rate of 5.95% APR (Annual Percentage Rate), the total amount payable by the member is €65,999.22.  

Loans are subject to approval. Terms and conditions apply.

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.

Letterkenny Credit Union Limited is regulated by the Central Bank of Ireland.

Letterkenny Credit Union launches new ‘Welcome Loan’ exclusively for returning & first-time borrowers was last modified: January 30th, 2026 by Staff Writer