Managing Credit Responsibly

We offer different loans for different requirements. It is important that when you borrow money, you are getting the right product to suit your needs.

We encourage you to look over the suite of loans we offer to make sure that the terms and conditions fits your requirements. Before borrowing, you should also consider factors like purpose of the loan, your budget and your financial circumstances now and over the course of the loan term.


Credit Assessment Criteria


When we lend money to members, there are certain criteria that we must take into account as part of the process. These include the following:

Ability to Repay

The money we lend belongs to all members of the Credit Union, and it is our responsibility to ensure that we lend members’ money to other members solely where it has been established they have the ability to repay this loan. A borrower must be able to afford loan payments over the full duration of a loan, therefore their income must be secure and their pay sufficient to afford the loan repayment, in addition to their existing debt commitments, i.e. mortgage/rent, other loan repayments/credit cards/HP, etc.

Ability to Repay
Credit History

Credit History

Part of our loan assessment process involves us running a check on the Central Credit Register (CCR). Occasionally, if relevant, we may look for a credit report from outside the ROI. This is done to review a member’s total indebtedness and the performance of those debts. If a member is having repayment difficulties with other debts, this will affect the decision on their loan application and may lead to loan refusal.

Arrears/History of Arrears With a HSSCU Loan

If a member is currently or has previously been in arrears with their HSSCU loan(s) this will affect their loan application depending on the level/cause of the arrears and the amount of their current application.

Arrears/History of Arrears With a HSSCU Loan
Loan Refusal

Loan Refusal

At HSSCU, we do our best to approve all loans when possible, but sometimes, difficult decisions have to be made.  We understand that this can be distressing for members. We hope that in reviewing the information above, it will help you understand what can influence our decision making and what you can do to help your application  If a loan is refused it does not mean this is a permanent refusal but applications may be successful if your situation improves at a future date or if the reason(s) for declining the loan can be addressed.

The Loan Process. Easy and Simple.

Apply for your loan

Call our office today on 0818 6778648, visit any of our branches or login to your online account and make an application

Provide any required supporting documentation

Our specialised lending team will always engage with you regarding your loan requirements

Decision time

The credit union will contact you with the decision via text message or telephone