€30K price tag on wedding and honeymoon

A wedding is a truly joyful occasion, however it can also be a significant financial expense and it’s no wonder the bride-and-groom-to-be can sometimes feel the stress taking over the enjoyment of nuptial planning.

According to the 2022 weddingsonline.ie survey, the average budget for a wedding including honeymoon is just under €30,000.

Understandably, many couples may need financial assistance to help make their wedding dreams a reality, regardless of their budget. This is where Cavan Credit Union can help.

Speaking to the Celt, Therese Conway, CEO advised: “We offer Wedding loans with realistic terms, which can be paid back in a way that works best for each individual couple. We don’t have any hidden transaction fees or charges.

“Very often couples will pay back some of their loan with money given as gifts. The great thing with the Credit Union is that any couple, who wish to pay back all or some of their loan early, can easily do so without incurring any penalties or fees. We would encourage any couples planning a wedding and thinking of borrowing to contact one of our dedicated Loans Officers, to see how we can be of help.”

Therese advised also that for larger wedding loans: “Cavan Credit Union currently has a promotional loan rate, which is our lowest ever rate on large loans.”

Loans from €20k to €50k are a very competitive 5.9% (6.06% APR). So, for example, a loan of €50,000 over 10 years at 5.9%(6.06% APR), costs €553 per month and the total cost of credit paid is €16,311.

“This low rate on large loans beats most of the other loans offers out there, with the benefit of borrowing locally, from an institution you trust,” Ms Conway continued.

Cavan Credit Union has multiple ways in which people can apply for a loan. A loan appointment can be booked through the App or website or by contacting the credit union on 049-4331715. For members who can’t make it into the office, you can now complete the whole process from applying for the loan, to drawing it down online.

Therese concluded by saying: “For any couples thinking of borrowing for their wedding, they can check out the loan calculator on our website cavancu.ie to see what the cost would be or as always contact us at the branch and we will be glad to take you through your options.”