Farm Friendly Finance

Farm Friendly Finance for Credit Union members.

Drogheda Credit Union with branches in East Meath, Drogheda, Dunleer and Trim have recently joined 88 other Credit Unions within the Cultivate brand to bring an offering of farm finance nationwide. Cultivate is the collaborative credit union finance lending platform for farmers.

The announcement is a strong indication of the growing need for farmer friendly finance from credit unions and builds on the momentum of the Cultivate brand.

Speaking on behalf of Cultivate Tom Kiely, CEO from Drogheda Credit Union noted,

“We are delighted to join the Cultivate family. Farmers in county Meath & Louth will now have better access to farm finance from people who really understand farming.

As a specialist provider of finance to farmers, Cultivate Credit Unions are holding onto and nurturing everything that our farming members value: we spend time with our members, we listen to them, and ultimately, we try to solve their problems and meet their needs.”

Participating credit unions make decisions locally. Local loans officers have the discretion to take a farmer’s circumstances into account. They understand the reality facing farmers in Ireland and reflect the farmer’s financial circumstances, personal circumstances, needs and track record as part of the loan review process.

In 2020, the average loan application from farmers in all sectors was up 5% year-on-year to €24,800 and this was mainly used for a number of key on-farm activities including, stocking and working capital (25%), farm buildings (20%) and tractor purchase (16%).

Commenting further, Tom Kiely noted,

“The demand we have from farmers for an alternative flexible finance lender is strong. Our current member feedback and an increased interest in non-credit union members to join Cultivate, gives us confidence in the future and we will continue to enhance the service we provide to farmer members as we grow the presence of Cultivate in Drogheda Credit Union.”

Despite a difficult year where uncertainties with Covid-19 and Brexit had to be managed, the Cultivate short to medium term finance option has remained popular with Irish farmers. Cultivate Credit Unions offer flexible unsecured loans up to €50,000 over a 7-year period.

For any farmer who wants to find out more about how to access a Cultivate loan with Drogheda Credit Union, they can go to or call 041 9838496.


Scroll to Top