The fastest way to apply for a loan is online through the APP or the website. You can also apply over the phone at (01) 626 5621 or by making an appointment for a time suitable to you.
No. You do not need to save before applying for a loan. We look at your ability to repay and not your savings record or length of membership.
We offer Personal Loans up to €75,000 and Mortgages up to €250,000.
We aim to turnaround our loan applications in 24hrs (subject to Terms & Conditions). To speed up the process, we recommend that members submit all the relevant paperwork along with their application. This can also be done through uploading them through the APP or website or dropping them in the office.
You can also opt to use our Open Banking service that allows us to retrieve your bank statements directly from the bank, hence eliminating the need for printed copies.
Yes. Many members in the credit union apply for a top-up of their existing loan or apply for a new loan before repaying the loan in full.
You can repay your loan by the following methods:
Standing Order
Direct Debit
Online Payments
In Office
Each loan application is reviewed by assessing a number factors, including and not limited to;
- Ability to repay.
- Savings and loan account history.
- We are also required carry out credit checks with the Central Credit Registry (CCR).
Guarantor
In the case where an individual is proposing a guarantor, we must also carry out a similar evaluation of the guarantor’s ability to repay the loan in the event that the member gets into financial difficulty. We do this in order to protect each and every one of our Members’ savings.
We will always encourage members’ who may find themselves in financial difficulty after taking out a loan to engage with us as soon as possible so that we can work with them in coming up with a solution.
Lending Terms & Conditions Apply
You can register by filling the form online, giving us a call or visiting the office. We can issue you a PIN by post or PIN by SMS.
Once you are setup online, you can log in to your account and view your account balances with the unique IBAN. You can then share this with your bank to setup the transfer
Once you are setup online, you can log in to your account on the website. Then click on External transfers to add a payee. With our current account, you can even pay bills by adding the provider as a payee.
Once you are setup online, you can log in to your account and click on Internal transfer to transfer funds. These transfers are instant.
You need to contact us and we will reissue you with a new pin.
You may not be able to login to your account because
You have not completed the two-factor authentication
You may be entering a wrong pin
You are using the alphabet associated with your member number
Once you are setup online, you can log in to your App you can:
Apply for a loan
Upload documents
Check balances and IBAN
Transfer funds internally and externally
Suspend your Debit Card
View payees
Yes. One applicant of the joint account will need to add J to their member number in order to login.
In the Payment Details section, click on the Green Plus Button. Then you can select for each member number the amount and account in which the payment will be made. At the end, you make one debit card payment that will be distributed to each of the accounts.
The revised Payment Services Directive (PSD2) is a piece of EU legislation which entered into force in 2015. Among the primary objectives of PSD2 were:
• To protect consumers.
• To give people and small businesses the ability and choice to safely and securely share their financial data in order to get access to better financial services and products.
Being an AISP (Account Information Service Provider) means that a company can ask an individual or business for authorisation to connect to a bank account and use that bank account information to provide a service.
The service provided by an AISP is a regulated payment service.
Businesses who are AISPs are authorised to access bank account information on a ‘read only’ basis. This means that the AISP has access to the account information but will never be able to complete any transactions on your bank account.
Truelayer (Ireland) Limited is the AISP used by the Credit Union to enable Members to provide bank account information digitally, in support of loan applications. Truelayer (Ireland) Limited is registered as an Account Information Service Provider (AISP) with the Central Bank of Ireland (Institution code C433487).
If an AISP is registered in any EU member state, it can provide Account information Services (AIS) to consumers and businesses in any EU member state.
This Document explains how the overall process works
This service eliminates the effort of collecting, printing and returning bank statements to the Credit Union. Instead, your bank account information is transferred electronically to the Credit Union on your behalf (but only when you give authorisation to do so).
Your bank account data will only be used for the purpose of assessing your loan application to the Credit Union.
Truelayer (Ireland) Limited will access your account data only once (immediately after you have given authorisation).
Truelayer (Ireland) Limited will hold your bank account information on their systems for a maximum of one hour after accessing your bank account. After which, your bank account information will be deleted by Truelayer (Ireland) Limited on their systems.
Truelayer (Ireland) Limited will share your bank account information with the Credit Union (after authorisation by you) via the cloud-based loan application assessment system used by the Credit Union.
Truelayer (Ireland) Limited and Palmerstown Credit Union are two separate Data Controllers. Where Truelayer (Ireland) Limited shares bank account information with Palmerstown Credit Union it is based on consent which you provide to Truelayer (Ireland) Limited during the bank account information retrieval process to facilitate the loan application process, when you the Member authorise Truelayer (Ireland) to do so.
Truelayer (Ireland) Limited and Palmerstown Credit Union are two separate Data Controllers, therefore the Member will be able to access their rights separately with each entity. Palmerstown Credit Union’s privacy notices are available here. Truelayer (Ireland) Limited’s privacy policy is available here
As a Member, this is a new optional service offering directly for you by Truelayer (Ireland) Limited to reduce the time taken to process loan applications and to enhance the loan application process.
As a Member, this optional service is available to you directly at no extra cost.
You can join online using our APP or you can schedule an appointment in the office. More details about our app can be found here
- Proof of ID - Passport or Driving License
- Proof of address - Utility Bill, Bank Statement or Letter from Government Department dated in the last 3 months
- Proof of PPS - Payslip or government letter
Yes. We offer Junior Accounts for children below 16 years of age. You need
Name of the child - Passport or Birth Certificate
Address for the child - Parent’s utility bill or bank statement
PPSN of the child
Proof of ID for the parent - Passport or Driving License
Proof of Address - Utility bill or bank statement
Yes. You can open a joint account which offers you the ability to borrow and save together. You need
Proof of ID - Passport or Driving License
Proof of Address - Utility Bill, Bank Statement or Letter from Government Department dated in the last 3 months
Proof of PPS - Payslip or government letter
These will be needed for both the applicants
At Palmerstown Credit Union, we are always happy to welcome back members who we haven't seen in a while. If you would like to re-activate your account, drop into the office and we would be delighted to assist you.
To re-activate your account you will need the following;
- Valid photo I.D (current passport or driving licence) &
- Proof of address (utility bill / bank statement dated within the last 3 months) &
- Proof of your PPS number
Other Options
You may also close your account or transfer your account to another Credit Union.
To close your account. You will need:
- Valid photo ID (current passport or driving licence) &
- Proof of address (utility bill / bank statement dated within the last 3 months)
To transfer your account.
- If you have moved from the area and wish to transfer to a Credit Union closer to your current residence, contact your nearest Credit Union and they will look after the transfer.
What is a Dormant Account?
Dormant Accounts* are classified as any account which has had no member generated transactions in the last 3 years.
When an account becomes dormant, it does not mean the account is closed - your shares will remain in the Credit Union and will continues to earn dividend on an annual basis.
*Under Rule 19 of the Standard Rules for Credit Unions (ROI 2016) and in line with Government Legislation, regarding dormant accounts.
