What does your Credit History mean for you?

When you take out a loan in any credit institution, the details of the loan and the repayments you make on it are recorded on the Central Credit Register ("CCR").

When you apply for credit (loan, mortgage, hire purchase etc.), the lender may check your credit report on the CCR to see if you have a good history of making repayments in full and on time.

If you've been paying in full and on time, this will be recorded on your report. Lenders will be happy to see this as it shows a good capacity to repay future loans.

If you have missed payments or are in arrears, this may be recorded on your credit report and may limit your ability to access credit in the future.

If you find yourself in financial difficulty, it is important that you reach out to us so we can make a plan with you to get back on track. Contact us on 057 86 22594 or loandifficulties@peoplefirstcu.ie.

*This information is designed for informational purposes and does not purport to provide authoritative advice on financial or legal matters. We encourage you to consult a qualified professional.