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.

Ability to Repay
Credit History

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.

Arrears/History of Arrears With a HSSCU Loan

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