Why Is A Loan Refused?

At HSSCU, we do our best to approve all loans when possible, but sometimes, difficult decisions have to be made.

HSSCU's Loan Refusal

HSSCU approves approximately 96% of all loan applications, however we are not able to approve all loan applications.


There are many reasons why a loan application might be refused. To help you understand some of the reasons, the most common are listed below:

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 basic 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.

Credit History

Part of our loan assessment process involves us running a check on the Central Credit Register (CCR) and Irish Credit Bureau (ICB). 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.

The Loan Process. Easy and Simple.

Apply for your loan

Call our office today on 1890 677 864, 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

I decided to go back to college and had done 3 years, but couldn’t afford to do my 4th. I had to take a year out and try to save up money, however I have 3 kids at home so that was a bit of a struggle. Then I saw Kredit and the advertisement of the scholarship and I applied, not really believing that I would get it. However, I got a phone call from HSSCU to say that I had won the scholarship. It just made my life so much easier. I’m fully qualified now, I just finished my 4th year and I’d like to say thank you to HSSCU for making my journey that little bit easier.

Around the same time that I was accepted to my Masters in Rehabilitation and Disability Studies I received a letter through the door from HSSCU where I saw that there is a scholarship available for higher education students. I applied for the scholarship not really thinking that I would succeed. A few weeks into the course I received a call from Pádraig telling me that I had been chosen for the scholarship and I couldn’t believe it – it was just fantastic! It made such a difference to me. Thank you so much HSSCU for
sponsoring me in my education.

As a long term member of the Health Services Staffs Credit Union I was aware of its commitment to supporting and promoting lifelong learning. This meant an awful lot to me, as I am retired. My course suited me down to the ground because I believe one learns so much from the process of exploring ideas, experimenting with different techniques and materials and problem solving. The scholarship has made it possible for me to realise my dream and I found the support and encouragement from the HSS Credit Union personnel very helpful.

What the scholarship has done is afford me a chance to better myself through further education at a time in my life where it was not financially an option. It was a pipe dream, but now I find myself halfway through my course. The HSSCU are not just supporting me by awarding me this scholarship, they are supporting my family and ultimately providing us with a brighter future.

The HSSCU scholarship has effectively changed my life. I received a call to say that I have been awarded the HSSCU scholarship to the value of €15,000. I am not sure I can accurately put into words the level of impact it has had and will continue to have on my life. It has served as a means for me to engage in something truly meaningful and has opened up a door to my dream job.

I dealt with Celia, who is a super woman. Her caring manner and professionalism was very, very evident throughout the experience. She is a great representative of the credit union.