An Cosantóir

www.military.ie the defence forces magazine | 29 neW loan detaIls provIded by ansac ANSAC CU members could previously only have one loan outstanding at any time. Smaller loans that were required were given as 'top ups' on an outstanding loan. Now ANSAC have introduced multiple loans, this means if someone has an outstanding loan and they want to look for a small loan they can apply for an annual loan at a reduced rate. This must be paid back within a 12-month period but can be repaid quicker; e.g. over 20 weeks rather than 52 weeks. Members can have more than one annual loan outstanding at a time; maybe borrowing in June for a weekend break and then applying for an additional annual loan for Christmas. Gillian said: "Members need to be aware of the terms and conditions. Normal procedures apply in relation to the members' ability to repay their loans; we may require bank statements and payslips to ensure we are not putting a member under any additional financial strain. This loan must be paid in conjunction with any other outstanding loans on the account." There are no top ups on annual loans but members can apply for an additional loan on the account even if another an- nual loan is outstanding. price comparison: A recent comparison of an ANSAC annual loan of €500 and a loan of a similar amount from Provident showed the total cost from ANSAC coming to €10.25, compared to €150 from Provident; a huge difference. Annual Loan @ 7.9% - Interest rate 7.9% APR 8.2% Car Loan @ 6.2% - APR 6.4% • Research shows ANSAC's will be the cheapest credit union car loan compared to local. community credit unions that are close to and in direct competition with ANSAC. • Minimum loan amount of €3,000 must be paid directly to a car dealership or garage. • Does not qualify for interest rebate. • Members' ability to repay will determine loan approval. ANSAC Credit Union PCP Finance (Personal Contract Plan) No hidden or additional fees. No set-up or documentation fee. Repay loan quicker, no penalty. Speedy loan decision. You can sell the car on at any time. Interest paid on reducing balance. Life, savings and loan protection insurance free (subject to T&Cs). Deposit required. Balloon payment at end of PCP or straight in to another PCP contract. Annual mileage set; if exceeded reduces value of car. Can incur additional fees and charges YOU DON'T OWN THE CAR!! If a member has a loan outstanding with ANSAC and they are interested in a car loan they can apply for it separately but it must be paid back within five years, max. This loan has no 'top up' facility. It is important to remember that the money ANSAC members' borrow as a loan, is the savings of other mem- bers. To this end, it is imperative that members continue to save while paying off a loan. When a member withdraws their shares to clear a loan, they are depriving other mem- bers of their chance to get a loan. To join ANSAC Credit Union you must be a member of what is known as a 'common bond'. The common bond of ANSAC is membership of PDFORRA. You may also retain full membership of ANSAC if you are a member of the credit union on the day you leave the Defence Forces. ANSAC en- courages its members' families who reside at the same ad- dress to apply for a Family Membership account in ANSAC to avail of the same offers. opening hours: Monday - Thursday, 9am - 5pm; Wednes- day 10:30am – 5pm; Friday: 9am - 4pm. Open through lunch. address: 75-76 Amiens Street, Dublin contact details: info@ansaccu.ie - www.ansaccu.ie. Ph: 01-8554489. ANSAC is on Twitter @ANSACCU and Facebook: www.facebook.com/Ansac-Credit-Union- Ltd-282694051791310/ ANSAC Credit Union is regulated by the Central Bank of Ire- land. Reg no. 462CU

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