Loans – Terms & Conditions

Whereas the Member(s) applied to the Credit Union for loan facilities and such application has been approved by the Credit Union and the Credit Union agrees to advance to the Member(s) credit in the amount set out below (“Loan”) subject to terms and conditions of this Promissory Note and rules of the Credit Union.

In case of any default in payment as therin agreed, the entire balance of this note shall immediately become due and payable. In consideration of your having agreed at my/our request to advance sums to the Borrower(s) I/we (“the Guarantors”) jointly and severally guarantee the repayment of the Borrower(s) of all sums due on this Note at the times and in the manner set out herein and my/our liability shall not be affected by the granting of time or indulgence to the Borrower(s) or any Guarantor, the impairment of any security taken from the Borrower(s) or for any other reason which but for this provision might release me/us from liability on this guarantee. The Borrower(s) and Guarantor(s) severally hereby pledge all paid shares, all payments on account of shares and all deposits, which each now have or hereafter may have in this Credit Union as security for repayment of this loan together with  interest, costs and expenses and each hereby authorise the Treasuer to apply any or all such paid shares, payments on account of shares or deposits to the payment of said loan, interest, costs and expenses. The Borrower(s) and Guarantor(s) severally waive presentments for payments, demand, protest and notice of protest and dishonour of the same. This Note to the extent it covers refinancing of an existing loan is in substitution for any promissory note given by the Borrower(s) in respect of that loan.

Ballinascreen Credit Union Limited is authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority