Local, Loyal & lending

Whilst every care has been made in the production of this calculator, Gort Credit Union Ltd cannot be held responsible for any omissions, errors or other mistakes made herein. The calculator is for illustrative purposes only, so as to give you, the borrower, an overview of the potential cost of borrowing.

We approve 95% of our loans

All of the above loans are subject to individual terms and conditions. Contact a member of staff for more details.






Gort Credit Union Ltd is a community based financial institution owned by it’s members. We offer flexible loan’s at competitive rates of interest.

Advantages of taking out a loan with Gort Credit Union Ltd;

     There are no hidden fees or transaction charges
     Repayments are calculated on the reducing balance of your loan
     Loans can be repaid early without penalties
     Free loan protection insurance to eligible members (t & c apply)
     Lump sum repayments accepted without penalty

How to apply for a loan;

     Call in to our office during working hours
     Online – click here to complete our online loan enquiry sheet and a member of our staff will be in contact with you
     Email – info@gortcu.ie and we will respond to you
     Phone our office and speak to a loans officer

All loan applications should be accompanied by supporting documentation e.g. 3 recent payslips and 3 months recent bank statements. We also require up to date photographic identification and recent proof of address.

Loan applicants are requested to consent to a credit check when applying for a loan.

Loan Protection Insurance

Loan Protection Insurance is the insurance cover the Credit Union provides on the lives of its borrowing members.

Should an insured borrower die, or (under most contracts) become totally and permanently disabled for any occupation, the insurance cover provides that the loan is repaid in full. If a member who is eligible for insurance cover and has signed the credit agreement dies with a loan outstanding, the loan balance is paid in full by the insurer.

You will be informed at the time of the loan application if your loan exceeds the amount covered by the credit unions policy. Under the basic policy death cover ceases on the members 70th birthday. The credit union has the option of extending this age limit to the members 85th birthday by affecting cover under the Over 70 Rider. Disability cover however ceases on the eligible members 60th birthday.

Lending to Small and Medium Enterprises (SME's)

The purpose of this notice is to inform our business members about our SME lending services.  It is targeted at enterprises employing less than 50 persons and with annual turnover and balance sheet total of up to €10 million.


In this context, an enterprise includes a farmer or a sole trader such as a carpenter who is borrowing for the purposes of their farm, trade or profession.  It also applies to other members who borrow for a related business purpose and who may be an employee on PAYE.  If a farmer or carpenter is borrowing a personal loan for example home improvements or a holiday this loan product does not apply.  It only applies to loans for the purpose of the business/farm.


Gort Credit Union Ltd is happy to lend to the SME/Agri sector.  We have specialist staff who have been trained in lending to this sector and all of the regulations which apply.


Background to SME regulations

New SME Regulations came into effect on 1st July 2016 to the extent that they apply to regulated entities excluding credit unions.  They came into effect in relation to credit unions from 1st January 2017.


The objective of the regulations is to strengthen protections for SMEs, while also facilitating access to credit, by introducing specific requirements that regulated lenders must comply with. These requirements include:

Giving SME borrowers greater transparency around the application process.
Providing SME borrowers with reasons for declining credit, in writing, that are specific to their application.
Providing greater protections for guarantors.
Contacting SME borrowers who have been in arrears for 15 working days.
Warning SME borrowers if they are in danger of being classified as not co-operating.
Expanding the grounds for appeal and setting up an internal appeals panel.


For more information please call to the Credit Union for a copy of our SME Information Booklet, email info@gortcu.ie or alternatively click [here] to download a copy in PDF format.

SME's Experiencing Financial Difficulties

In Gort Credit Union Ltd, we appreciate the challenges that sometimes may face our members and their businesses. During the course of lending to businesses, our lending team makes every effort to anticipate potential difficulties which could arise, however, Gort Credit Union Ltd recognises that it is probable that some businesses will experience cash flow difficulties from time to time, that could lead to their loan falling into arrears.


The longer the term of the loan the greater the probability that something unexpected will happen in the business. While we hope that our member’s business circumstances will always change for the better, we accept that there may be instances during the term of the loan where some businesses will experience financial difficulties that affect their ability to meet their loan repayments as expected.


The Central Bank of Ireland, has published Regulations for Business Lending to Small and Medium Sized Enterprises (SME Regulations). This booklet outlines how Gort Credit Union Ltd deals with SME’s who find themselves facing financial difficulties or experiencing financial difficulty. These regulations became applicable to Credit Unions from 1st January 2017.


The Objectives of SME Regulations:

A clear definition of the circumstances which define when an SME is regarded as “in financial difficulties”.


Facilitate access to credit for sustainable and productive business propositions.


To promote fairness and transparency in the treatment of small to medium enterprises.


To ensure that there is a structured approach that the member understands at the outset, the aim is that Gort Credit Union Ltd will assist the member, and their business to meet their obligations where possible.


To outline the communication and information requirements when the SME is in financial difficulty.


Ultimately, we want to assist members to resolve their financial difficulties and find a way to get them back on a repayment plan that is sustainable and will allow the members business to prosper and grow.


For more information please call to the Credit Union for a copy of our Standard Information Booklet for SME Borrowers in financial difficulties or alternatively click [here] to download a copy in PDF format.


SME members who are in arrears, or in danger of falling into arrears should call our arrears support unit on 091-631250 or email info@gortcu.ie to arrange an appointment as soon as possible.


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Gort Credit Union Ltd is regulated by The Central Bank of Ireland. More Info