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 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.

I have been involved with the credit union since 1990. It’s a super supportive credit union, who looks after their members, their consistent style of service has constantly been updated ,keeping up with current trends, and yet always feels personal for their clients, helped me over the years.

The best Credit Union in Ireland. HSSCU has helped me out in every difficult financial situation I have in been since I joined up 2004.
They are amazing

Fast efficient friendly service. Delighted I made the decision to join.

Since I arrived in Dublin from Philippines in 2001 , always dependable in times of sadness and worst financial difficulties. Staff are considerate and professional in customer care. Hoping to continue the service till my retirement.

All the staff are so nice and helpful. And the service is just brilliant. Have to say this Credit union Has been a life saver for me