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One of the best financial products I’ve ever had and no other financial institution has had anything like it.
Everything from the online to the counter experience is brilliant, would highly recommend it to everyone.
Revolving Credit offers more flexibility to your members and reduces administrative burden for your staff
A Revolving Credit Loan is a flexible line of credit which offers more choice when it comes to lending. Instead of applying for multiple small or top-up loans, Credit Union members can apply for one larger loan and have the option to draw down as much or as little as they wish over a specified period of time (typically three years).
Revolving Credit loans increases your loan book and drastically reduce the amount of admin and paperwork your staff need to complete.
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Eilish
Member of Tipperary Credit Union
revolving-credit
The value of Revolving Credit
Reduced paperwork for the Credit Union
As only one, larger loan is issued, this reduces the amount of paperwork required.
Better flexibility for the member in borrowing
Your members can access funds as they need them, without having to go through the loan application process more than once.
Interest charged on a smaller loan amount
Your members are only charged interest on the portion of the loan that has been issued.
Self-service online loan product
Once the loan has been created your members can access the loan immediately from their online banking or mobile app.
Cost savings
Only one credit check is performed for your member, no matter how many times they draw down their loan, saving your Credit Union money and providing a positive experience for your member.
“
Revolving Credit has already generated huge efficiencies for our Credit Union by reducing the amount of admin and paperwork our staff need to complete by approximately 70%. This also means less paperwork for our members to complete, providing them with a quick and seamless experience to get credit”
Brendan Ryan
IT Manager
Tipperary Credit Union Limited
Tipperary Credit Union expands loan book with €800,000 in Revolving Credit drawdowns
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