Credit Union New One-Year Loan @ 6.99%

In the current climate budgeting is the order of the day. With this in mind, Bantry Credit Union has introduced a new one-year loan at a special rate of 6.99% (APR 7.2%). The new loan is aimed at easing the financial pressure on members by facilitating payment of regular bills and expenses on a yearly basis.

There are a whole range of purposes that fit this new loan, for example:

· Car insurance and car tax
· Home insurance
· Utility and other household bills
· Farm and other business expenses
· Membership of leisure or sports clubs
· Holidays

Announcing its new one-year loan, Bantry Credit Union pointed out: ‘People often pay for these expenses by means of their overdraft or credit card. But these can be very expensive sources of credit, with interest rates on overdrafts now around 13% while credit cards can charge anything from 10% to 18%.’ The Credit Union’s new rate of 6.99% ‘is roughly half those rates for short-term finance. And there are no facility or transaction charges with the Credit Union.’

There is a limit of €5,000 on the new loan. All further details available from the Credit Union office at 027-50535.