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credit union loan

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  • 12-06-2011 11:11pm
    #1
    roisin5590
    Closed Accounts Posts: 1 ✭


    Im 21. I have had a permanent part time job for the last 4years earning around 400 every fortnight. I have 650 saved with the credit union. I'm looking for a 2000 loan over 2 years form the credit union to pay for my college fees in September. The reason I want the loan is so I have dispensable money so I can move out for the summer and have my fee money secured.

    What are my chances of getting this loan?????????



    Also I know they look for bank statements from my bank which I can supply for my account that I get paid into. However I have another account which has no money in it, just overdrawn. If I don't supply a statement for this is it possible for them to find out?????


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    #2
    donegal2011
    Registered Users Posts: 73 ✭✭donegal2011


    When it’s your first loan you can only borrow double the amount of yourshares.

    also u need make weekly visits to cu (just give you more chance on get a loan)


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    #3
    BlueBaron
    Registered Users Posts: 262 ✭✭BlueBaron


    donegal2011 wrote: »
    When it’s your first loan you can only borrow double the amount of yourshares.

    Nonsense.

    Everything you have so far OP sounds great but as its your first loan and still fairly young, im sure you'll be asked to have a guarantor to go with ya for the loan. A working family member is perfect.


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    #4
    CarrickMcJoe
    Registered Users Posts: 3,379 ✭✭✭CarrickMcJoe


    As long as you are a regular saver I see no reason why you would be refused, though credit unions have tightened up lately. After all its only 2k, and you could get it over 5 years if you wanted.


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