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Wedding Loan Required From CU

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  • 22-08-2011 12:02pm
    #1
    Scholesy1981
    Closed Accounts Posts: 65 ✭✭


    Just wondering if anyone can give me some advice about getting a loan outta the credit union, suppose to be getting married next year so woz hoping to take out about 15k. Would anyone know how much I would have to have saved to date in the account in order to secure a loan for this amount?? I'm aware this can vary in some credit unions but a general rule of thumb would be much appreciated to put me in the right ( or wrong, depending on ones morals! ) direction :D


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    #2
    niamhsiobhan
    Registered Users Posts: 47 ✭niamhsiobhan


    As you said it varies from place to place. In my branch, the general rule is you must be saving with them for at least twelve weeks and they will only give you up to a max of three times what your savings are.

    Then again, that was a good while ago. With the way things are gone now it might be harder to get it. Also it doesn't work if you lodge a lump sum into the account ( in your case E5000 ). I think they need to see that you can save/repay every week, not just in chunks.

    There's loads of posts in the forum about credit union loans. Go have a ramble around, you'll prob get more info.


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