TO ASSESS A PERSONAL LOAN APPLICATION, WE WILL NEED YOU TO PROVIDE DETAILS OF YOUR CURRENT ACCOUNT TRANSACTIONS AND YOUR INCOME AS FOLLOWS:

Your Current Account Transactions:

  • We will require Open Banking* access to your current account transactions.
  • Your current account transactions will include your main account, plus your Revolut, N26 and Credit Card accounts – where applicable. You may have to provide access via Open Banking for each current account separately.
  • Where your First Choice Credit Union total borrowings will be greater than €50,000 we will need you to provide additional information. As this additional information will vary depending on income source and other factors, we will advise you of our requirements following your application.

*Open Banking is a safe and secure way to share your transaction records between financial institutions electronically.

If you’re applying online for your loan, you can provide Open Banking access to your operating account by clicking on the ‘Connect Accounts’ button at the end of the application process.

If you’re applying at the counter for your loan, we will send you the link to Open Banking via e-mail while you are with the loan officer.

In exceptional circumstances we will accept hard copy statements for your accounts – if you do not have online access, or if your current account provider is not linked up to Open Banking for example.

Income Details:

The required documents will depend on your income type.

Please click on the option relevant to you.

If you are an Employee (i.e. Payee income earner)
  • A copy of your most recent pay slip, if you have not previously provided us with a payslip from your current employment.
  • Evidence of your Rent arrangement (i.e. a copy of your lease or rent book). If your rent is paid through your current account statement that will be sufficient.
If you are Self Employed (i.e. if your income is taxable under Self Assessment)
  • You most recent finalised Financial Accounts or Revenue Form 11.
  • Your most recent available Revenue Chapter 4 Statement.
  • Evidence that your income taxes are paid up to date and current.
  • Evidence of your Rent arrangement (i.e. a copy of your lease or rent book). If your rent is evident on your current account statement that will be sufficient.
If you are not currently in employment or are Retired, or if you earn a Fixed Income
  • Proof of your Social Welfare/Allowance/Pension – i.e. your most recent Social Benefit Slip/Receipt.
  • Proof of any other incomes you have.
  • Evidence of your Rent arrangement (i.e. a copy of your lease or rent book). If your rent is evident on your current account statement that will be sufficient.
If you are the proprietary director of a trading company

In respect of your company:

  • A copy of the last set of Finalised Financial Accounts.
  • If the last finalised accounts are more than 12 months old, we will require Management Accounts to within 3 months of the date of loan application.
  • The most recent three months company bank statement’s at the time of loan application
  • A satisfactory confirmation that the company’s taxes are up to date and in order.

In respect of you as a director:

  • See PAYE Employed or Self-Employed/Self-Assessment above as appropriate.