Therese Conway, Manager of Cavan Credit Union, is urging members to consider a home improvement loan with special rates until the end of the month. Photo: Lorraine Teevan

Special loan offer from Cavan Credit Union

As an essential service, Cavan Credit Union remained open for its members throughout the pandemic. The local credit union is delighted now that the economy and wider society is opening up again post lockdown and as the vaccine programme accelerates.

Manager Therese Conway says there is a real lift in everyone’s spirits.“It is wonderful to see the town opening up and businesses here, and throughout the county, getting back to doing what they are good at, serving their customers,” she said.

Cavan Credit Union is running a number of loan promotions, in particular home improvement loans.“It will be a while before far flung trips become the norm again. People are very much focusing on their homes and gardens and making their living space as comfortable and attractive as possible,” outlines Therese.

In this regard, Cavan Credit Union is offering a special loan rate to members on large loans for amounts between €20k and €50k to the end of June.

“Somebody approved for a large loan at the end of June has until the end of September to draw down their loan. In this way, you can get your loan approval in place and then organise to have your works done over the summer or into the autumn. The loan is proving very popular with members, not only for doing works inside their homes but also for adding to outdoor spaces. Fingers crossed for a good summer!” says an upbeat Therese.

She adds that the Credit Union benefit of having your loan insured in the event of death does extend to large loans of up to €50,000. Some age caveats apply at over 70 years, and general health requirements.

“The insurance on loans gives people great peace of mind, especially with a large loan, that they will not be leaving loved ones with a large loan balance to be repaid,” explains Therese.

The standard rate on loans between €20k and €50k is normally 8.5% (APR 8.83%) but the special rate to the end of June is a competitive 7.9% (8.19% APR). This means that a loan of €20,000 over five years costs €404.59 per month and the total cost of credit paid is €4,273.61.

Those interested in becoming a member of Cavan Credit union or applying for a loan can contact the branch or go online to the loan calculator at

“What I would say to anyone thinking of doing some improvements to their home this summer is, if they are considering borrowing, contact the credit union and we will be delighted to go through the wide range of loans we now offer, up to and including €50,000. Do it before the end of June and you could bag a great offer!” urges Therese.