17 May 2022

Cultivate, farmer friendly finance now available from St Canice’s CU

Kilkenny Kilkenny

Michael O’Reilly (Secretary, St Canice’s CU), Carmel Butler (CEO, St Canice’s CU), Jim Mulhall (Kilkenny IFA Chair) and Cathal Mulhall

St Canice’s Credit Union has just joined Cultivate, the collaborate credit union finance lending platform specifically aimed at those in the farming sector.

It comes as welcome news to farmers, farming organisations and agri businesses in the local community especially with the exit of Ulster Bank from the Irish market and the closure of many Bank of Ireland rural branches.

St Canice’s Credit Union’s covers a large rural area and with nine branches across counties Kilkenny, Laois and Carlow, it expects the Cultivate loan will open up financing opportunities for many local farmers.

With Cultivate, unsecured loans up to €50,000 are available and farmers can borrow for a variety of farming purposes including, stocking, farm machinery, cashflow and general farm investment.
The term can be up to seven years at an interest rate of 6.55% (6.75% APR) with repayment schedules designed to suit farmers cash flow.

In August Cultivate released an analysis for the first six months of 2021. The report highlighted how more and more farmers are turning to Cultivate for their farm finance.

The average Cultivate loan amount in the first 6 months of 2021 was for €26,791 with repayments spread over a 6 year period. The most popular loans were for stocking and working capital followed closely by farm buildings and tractor purchases.

Beef farmers continue to drive the majority of Cultivate loans, accounting for 7 out of 10 applications while dairy farmers accounted for 21%, sheep farmers 7% and tillage farmers for 2%.

St Canice’s Credit Union launched its Cultivate loan offering earlier this month on the farm of Jim Mulhall, Kilkenny IFA Chairman and it was attended by a number of local IFA representatives, agri business stakeholders and Matt O’Keeffe from the KCLR Farm Show.

Commenting on Cultivate at the launch, Carmel Butler CEO of St Canice’s Credit Union said that “Cultivate promises an efficient and professional service with quick turnaround times and an easy loan application process.

“In addition, lending decisions are made locally by our experienced agri lending team.”
To find out more, drop into your local branch, call 056-7722042 or visit Information can also be found on the Cultivate website,

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