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Armagh Credit Union increasing loans to £50,000 to reflect customer needs

As more and more customers feel the pinch with the rising cost-of-living and high mortgage repayments, the personal touch of a Credit Union might just offer the services they need.

Armagh Credit Union, which first opened its doors in May 1962, offers savings, loans and insurance services to its members in Armagh city and the wider area, all in an ethical and professional manner.

Based on Russell Street in the city, the Credit Union prides itself on being part of the community as it is owned and controlled by its members, with the aim of being there for people, not for profit.

In a bid to help increase flexibility and value for customers, the Credit Union have announced their loans are being increased from £30,000 right up to £50,000, all with “very favourable” rates.

Speaking to Armagh I, President of Armagh Credit Union, Kevin Powell said: “We are looking at how we go forward with people’s needs and demands and trying to create more loans, more flexibility and greater value to suit needs.

“I’m proud to say we are increasing our loans up to £50,000 to reflect customers’ needs and wishes as well as to perhaps even develop more a range of services that we want to give to the community.”

In their 60 years in business, Armagh Credit Union has created thousands of loans, amounting to millions of pounds, for the local people and economy in Armagh.

Kevin says that they want to help develop the Credit Union’s socioeconomic dividends and spread it back out into the community.

He explained: “We’re looking at people who maybe want to take up a larger loan for a particular venture or a particular interest or a home project.

“It’s also ideal for people who are maybe near the end of their mortgage repayments and they can use that money at a lesser rate to offset their mortgage repayments rather than continue with mortgages at a higher rate. That’s one obvious benefit that homeowners could get from our increased loans provisions.”

At a time when it seems like the High Street bank branches are closing their doors every waking hour, Armagh Credit Union are proud to be open five days a week. You can pop in any day except for Wednesday or Sunday.

They’re open from 9am to 4:30pm four days a week, closing at 4pm on Saturdays.

“We’re an institution for the people and we’d be delighted to see you in through the door anytime to discuss your financial needs,” Kevin added. 

Visit Armagh Credit Union’s website for more information on their full range of financial services.

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