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Take Control with a Debt Consolidation Loan

23 April 2025

Take Control with a Debt Consolidation Loan

Are you juggling multiple loans with different rates, terms, and payment dates? It can feel overwhelming—but it doesn’t have to be. At Mountmellick Credit Union, we’re here to help you simplify your finances with our debt consolidation loan.

With no application fees, no early repayment charges, and flexible repayment options—weekly, fortnightly, or monthly— we can help you roll multiple debts into one easy-to-manage loan, often with lower interest and less stress.

But more than that, we’re built differently.

Credit unions were set up to help people—not profit from them. We believe in financial wellbeing and empowering our members to manage their money in a way that supports their lives—not the bottom lines of big banks. When you borrow from your local credit union, your repayments help others in your community too. That’s the power of keeping your money local.


Here’s how it can work:

Let’s say you have three loans:

  • Loan 1: €10,000 over 5 years at 8.30% APR
    Monthly repayment: €203
    Total interest: €2,167
  • Loan 2: €15,000 over 5 years at 9.38% APR
    Monthly repayment: €311
    Total interest: €3,685
  • Loan 3: €5,000 over 3 years at 10.05% APR
    Monthly repayment: €161
    Total interest: €809

That’s €675 in total monthly repayments, with a combined interest cost of €6,661.


By consolidating these into a five-year debt consolidation loan at our lower interest rate of 7.76% APR, your monthly repayment would drop to €601, saving you €74 every month—money that could go towards savings, bills, or enjoying life.

Alternatively, you could choose to consolidate and shorten the term to three years, increasing your monthly payment to €933, but clearing your debt two years earlier and cutting the total interest you will pay to just €3,598. That’s a significant saving of over €3,000 in interest!

We’re proud to serve communities across Laois and Kildare, offering practical support and sound financial advice with a personal touch. Mountmellick Credit Union is your community-owned financial partner, built on trust, fairness, and a commitment to your wellbeing.

Let’s simplify your finances, check out all of our loan options here or get in touch today to see how we can help.

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Take Control with a Debt Consolidation Loan

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