Farm Ireland

Tuesday 17 July 2018

Credit Union launches new agri loans with 'office on a farm' campaign

Margaret Donnelly

Margaret Donnelly

An novel marketing campaign has been launched Westport Credit Union to promote its new agri loan scheme.

Mark Gannon, head of marketing with Westport Credit Union said the new agri loans are designed for farmers looking to borrow up to €50,000.

He said the loans can be used for a range of things, including new farm sheds, machinery, stocking, buying land and the Credit Union has a new dedicated service for farmers.

Mark said the idea to show the offices in a sheep shed came about as the Credit Union itself was moving offices, but this was a chance to show they are connected with the farming community.

"We moved to new offices and there are a lot of farmers, sheep, dairy and drystock around Mayo and we felt there was no lending institution really catering for farmers.

"The new loans are competitive at 6.5pc and are available through three credit unions - Westport, Newport and Louisburgh."

Mark said that the recent low-cost loan scheme, which was launched by the Strategic Banking Corporation of Ireland through three of the main banks, was simply not an option for many farmers in the west.

"The low-cost loan scheme was great, but farmers found that it was gone almost overnight. These agri-loans have no minimum loan amount and you don't need an appointment to talk to our staff."

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