Bantry Credit Union announces financial supports for students

This article was featured in our Careers & Courses 2026 magazine – you can read the full magazine here!

Education loan at 3.0%

New research from the Irish League of Credit Unions shows that school costs continue to weigh heavily on families, with 59% of parents saying covering back-to-school costs is a financial burden and more than one in four getting into debt.

Primary school parents expect to spend a total of €1,607 across the school year this year, made up of €623 in upfront back-to-school costs and a further €984 in running costs over the year. Meanwhile, secondary school parents are spending €2,142 across the school year in 2026, made up of €1,115 in upfront back-to-school costs and €1,027 in running costs.

Bantry Credit Union offers an Education Loan with an interest rate of 3.0%. While typically used to fund the cost of going to college, this loan is also available for parents who are struggling to cover back-to-school costs out of their everyday income. 

The credit union’s CEO Finbarr O’Shea explained that “at 3.0%, our Education Loan is the lowest rate charged by any financial institution in the country, bar none. It’s basically breakeven. That’s how we came up with the 3.0% rate – the Board of Directors decided that Education Loans would be offered at the lowest possible rate without losing money on them.”

Due to the low rate of interest being charged, the credit union must ensure that the funds are used for an educational purpose. So the loan applicant must provide proof of purpose.

Anyone who wants to find out more about the credit union’s Education Loan can contact the loans team Peadar and Katrina at 027-50535 or by email at [email protected]. 

Third-Level Scholarship worth up to €10,000

The credit union has announced the launch of its annual Third-Level Education Scholarship Scheme for 2026. The scholarship is worth up to €10,000 (€2,500 a year for up to a maximum of four years).

Set up in 2003, the scholarship is now in its 24th year. It is without doubt one of the longest-running and best-regarded scholarship schemes run by a credit union in Ireland. 

Launching this year’s award, Bantry Credit Union’s Chairperson Anna Fitzgerald said “We are delighted to announce that the credit union will continue to fund the scholarship to a value of €10,000. The credit union seeks to support our community in a wide variety of ways and one of these is investing in the education of young people.”

Anna explained that there are three second-level schools within the credit union’s qualifying areas – Coláiste Pobail Bheanntraí in Bantry, Scoil Phobail Bhéara in Castletownbere and Scoil Mhuire in Ballingeary.

She urged Leaving Cert students from all three schools, as well as people from the area who may have gone to a second-level school elsewhere, to apply for the scholarship. 

Anna pointed out that the scholarship is open to applications from mature students as well as school-leavers. “We are delighted to be able to say that two of the past winners of the scholarship were mature students and both are now pursuing successful careers in care professions in West Cork.”

The closing date for receipt of scholarship applications is Monday 14 September. Full details of the scholarship scheme (including application procedure, application form and T&Cs) are available on the credit union’s website (www.bantrycu.ie).

Printed application forms are available at the credit union’s two offices in Bantry and Castletownbere.