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Credit Union account

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  • 07-01-2008 3:00pm
    #1
    Twisty
    Closed Accounts Posts: 1 ✭


    Hi,

    Wondering if anyone can answer this for me?

    When applying for a mortgage can a bank view your credit union account details? If so how?

    Thanks


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    #2
    unclebill98
    Registered Users Posts: 3,816 ✭✭✭unclebill98


    Credit Unions do not supply there information to the ICB. Think some might but as far as i know most don't. So if you have savings you'll have to submit statements showing it getting built up to prove its not a loan.

    Also, if your thinking of hiding a CU loan, don't bother. Nothing worse than having to explain that later......


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    #3
    Feelgood
    Registered Users Posts: 2,191 ✭✭✭Feelgood


    Yep they can view your cred union accounts alright....they knew I had a car loan with the cred union....they are all connected to ICB at this stage.


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    #4
    Spocker
    Moderators Posts: 6,860 ✭✭✭Spocker


    If your Credit Union is a member if the Irish Credit Bureau :-> http://www.icb.ie/membership.php and you have a loan with that Credit Union, the bank to which you're applying can examine both the payment history and the current outstanding balance of the loan.

    It's worthwhile checking out your own credit record: http://www.icb.ie/cr_options.php just to see what that banks are looking at

    Lots of more good information here as well: http://www.citizensinformation.ie/categories/money-and-tax/personal-finance/loans-and-credit


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    #5
    BuffyBot
    Registered Users Posts: 24,924 ✭✭✭✭BuffyBot


    An increasing number of Credit Unions are joining the ICB - as pointed out, it's well worth checking that list


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