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credit union accounts and loans

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  • 13-01-2011 9:48pm
    #1
    niamhsiobhan
    Registered Users Posts: 47 ✭


    hey everyone, might be a stupid question but i have to ask! I have a credit union account that i save 50 euro a week into. I want to get a car loan out in the near future but i hate the idea of having my savings tied up in this loan. I'm wondering is it possible to hold two credit union accounts under the same name.

    I was going to lodge a large amount of money into the 2nd "loan" account and try to take the loan out on this. Which would leave my actual savings account free, as I have withdrawn from it recently for bills and xmas, it's gotten me out of hot water and I don't want to take this privilege by adding a loan to it.

    Thanks,
    N.


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    #2
    friday02
    Registered Users Posts: 11 ✭friday02


    Hi There,

    In response to your post. Yes, it is possible to have two credit union accounts under the same name. However you are only allowed to have one credit union loan with the same branch.
    I have a loan at the moment with the credit union. And like you said, my savings are tied up for the duration of the loan. I also have a separate savings account with the same branch.

    I hope this helps.

    N.


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