Grow Bigger: Premier Credit Union boosts Farm Loan limit to €100k

Premier Credit Union has announced a significant enhancement to its established Cultivate Farm Finance offering, increasing the maximum unsecured loan available to farmers to €100,000.

The move marks a major expansion of a lending product that has supported the agricultural community for several years and reflects the growing scale and evolving needs of modern farming businesses. Cultivate Farm Finance has long provided tailored, unsecured lending solutions for farmers.

With flexible terms of up to 10 years, competitive variable rates of 6.55% (6.75% APR), and a straightforward application process, the product has become a trusted source of funding for investments in livestock, machinery, infrastructure improvements, and working capital.

The recent increase in the maximum loan amount allows farmers to access a great loan product without having to secure the loan against assets.

Brian King, CEO of Premier Credit Union, said the decision to raise the lending cap reflects both member demand and the credit union’s commitment to supporting rural enterprises.

“Over the past several years, Cultivate Farm Finance has proven to be an invaluable support for our farming members. By raising the unsecured loan limit to €100,000, we are responding directly to the realities of modern agriculture, where investment costs have rose significantly.

“This enhancement ensures our members can access meaningful local financing with the personal service and understanding they value.”

He added that the credit union’s community based model remains central to its strategy.

“Farmers operate in a fast moving, often unpredictable environment. Our strength lies in combining competitive rates with strong member relationships and service. We know our members, understand seasonal cash flow pressures, and aim to make the lending process as straightforward and supportive as possible.”

The Cultivate Farm Finance product continues to offer quick loan approvals, and flexible repayment options. As an unsecured facility, it is designed to reduce complexity while maintaining responsible lending standards. Loan approvals and terms and conditions remain subject to standard terms and conditions.

Keith Fitzgibbon, Head of Lending at Premier Credit Union, emphasised the practical impact of the increased limit.

“The scale of investment required on farms today, whether for equipment upgrades, herd expansion, or sustainability improvements, has increased considerably.

“By extending the maximum unsecured loan to €100,000, we are ensuring that Cultivate remains relevant and genuinely useful to farmers planning significant developments. It provides the flexibility and certainty they need to move forward with confidence.”

A representative example shows that a five-year Cultivate farm loan of €30,000 would have 60 monthly repayments of €587.69 at a variable rate of 6.55% (6.75% APR), with a total cost of credit of €5,261.24 and a total amount repayable of €35,261.24. The repayment amount may increase if interest rates rise.

Premier Credit Union is regulated by the Central Bank of Ireland and continues to prioritise responsible lending alongside practical financial solutions for its members.

Farmers interested in learning more about Cultivate Farm Finance or applying for funding can do so online, by phone, or by visiting their local branch.

Please visit www.premiercu.ie

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