A Loan Within Shares is a secured loan (covered loan) which is fully secured by your shares (savings) in the Credit Union. This means that you can borrow funds up to the value of your shares in CANA Credit Union.
The secured loan is available at a lower interest rate of 4.9% (5.01% APR).
The loan balance is fully secured by the same value of shares.
Your loan details have been captured and will be submitted with your enquiry.
CANA Credit Union members with savings in their accounts can apply for a Loan Within Shares (Covered Loan) up to the full value of their shares. This loan option does not require proof of income, offering a straightforward and convenient solution for accessing funds. Please note, valid Photo ID, Proof of Address, and Proof of PPS number are required for all members to ensure compliance with regulations.
Existing members can apply for a loan through the website and mobile app or alternatively in the office or by mailing us a loan application. We will then be in contact if we require further information from you.
Please note: 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. All Loans are subject to approval. *Terms & Conditions Apply. CANA Credit Union Limited is regulated by the Central Bank of Ireland
If you would like more information on applying for a loan with CANA Credit Union please contact us today.
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