Getting a top up on a Credit Union loan

xzanti

I want to see about getting a top up on my Credit Union loan.. The existing loan is only 3 weeks old, not a huge amount but I think I should have borrowed more so I'm going to see about getting a top up...

Has anyone here ever done this and do they get p1ssed off about you doing it?? Also will I have to fill in another pile of paper work or will they just hand it out to me over the counter?? Again its not a huge amount.. Not looking at more than a few hundred...

Also this is my third loan so I'm not really worried about being turned down, just the ins and outs of it...

Cheers in advance

connundrum

Credit Union might be a bit better than banks, I know I've to wait 3 poxy months before I can top up my BOI loan :mad:

Actually I know that there are no strict guidelines when it comes to Credit Union loans, apparently you're supposed to have saved with them for 13 weeks before you can get a loan but my cousin got one after 10 weeks so..

G'luck with it anyways

DamienH

suppose like all things in the cred it all depends on if you've been saving regularly and all that malark. If you've been paying on time I don't see any reason they wouldn't just have a valid reason i.e. not "going on a bit of a binge up the country ," But it's your third loan so in their eyes you'd be trusted already

Oh yah and I don't go near the bank for much these days. At least the CU are human and they can understand if you just don't have the money to pay one week for a genuine reason.

xzanti

DamienH wrote:

suppose like all things in the cred it all depends on if you've been saving regularly and all that malark. If you've been paying on time I don't see any reason they wouldn't just have a valid reason i.e. not "going on a bit of a binge up the country ,"

Oh yah and I don't go near the bank for much these days. At least the CU are human and they can understand if you just don't have the money to pay one week for a genuine reason.

Me? Never... its for er...

*runs away*

The Hill Billy

If your loan is still within the amount you have in shares it shouldn't be a problem.

Sad Professor

i've topped up my credit union loan a few times. all they wanted was a recent payslip. provided you save & repay regularly there shouldn't be a problem. give them a call

ikol

you get instant loan approval in the CU or what ever shares you haveso if you have 1 k shares you can instantly get a 1 k loan.
as for applying for a loan they should give you 3 times your shares.

which reminds me to pay my CU loan havent done so in 9 weeks

The Hill Billy

The little old ladies will be around with the baseball bats this evening.

Dreamer 7

As long as its not your first loan, and you have more in shares than the new total amoutn ull b fine!

dbnavan

The beauty of the credit union is that it is owned by the member who are share holders. The loans are decided upon by the Credit Committee, who follow guidelines and look at each appliciton differently, rather then strict rules laid down by a bank.

So your application will be decided upon based on you shares/your loan history and your savings. Its hard to know if they will grant you a loan such a short time after giving you one already.

Best thing to do is go and talk to them, you have nothing to loose.

xzanti

Got it Cheers guys