Skibbereen and Bandon credit union has launched a fodder support loan. The new “acre fodder loan” offers a borrowing of up to €20,000. The credit union is offering repayments on a monthly, seasonal or annual basis. Rates start from 6.99%.

Cashflow risk

The aim of the loan is to minimise farmers’ cashflow risk by spreading the unforeseen cost over the next few seasons.

Dominic Casey of Muintir credit union in Skibbereen said: “We recognise that farmers are in difficulty and that current cashflow is a problem. Our ethos in the credit union is to support the farmer and the local community. The loan is in response to the fodder crisis. Our aim is to allow farmers to buy what they need now.”

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Farm loans now available from Co Cork credit unions