Monday, November, 8th, 2021 in Credit Union News
Enniscorthy Credit Union has just joined Cultivate, the collaborate credit union finance lending platform specifically aimed at those in the farming sector.
It comes as welcome news to farmers, farming organisation’s and Agri businesses in the local community especially with the exit of Ulster Bank from the Irish market and the closure of many Bank of Ireland rural branches.
Enniscorthy Credit Union covers a large rural area and with 4 offices across County Wexford. The main office is in Enniscorthy town, which is also home to Co Wexford Marts and many Agri businesses in the County, we also have offices in Ballymurn, Taghmon and Murrintown. Enniscorthy Credit Union expects the Cultivate loan will open financing opportunities for many local farmers.
With Cultivate, unsecured loans up to €50,000 are available and farmers can borrow for a variety of farming purposes including, stocking, farm machinery, cashflow and general farm investment.
The term can be up to seven years at an interest rate of 6.55% (6.75% APR) with repayment schedules designed to suit farmers cash flow. In August Cultivate released an analysis for the first six months of 2021. The report highlighted how more and more farmers are turning to Cultivate for their farm finance.
Cultivate Farmer Friendly Finance is built specifically around the growing needs of our farming members and is at a very competitive rate. If any of our farming members are interested in finding out more information, please check our website enniscorthycu.ie or contact Orla or Lena on 0539233835, where a friendly member of staff will be there to help you.
More information about Cultivate here
