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Need CU Loan

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  • 08-04-2012 5:25pm
    #1
    Bolger91
    Closed Accounts Posts: 4 ✭


    Hi all,
    I have a question about getting a loan from the credit union and how long i'l have to wait. I am not currently a member but i will be signing up on tuesday and i'm wondering what would be fastest way to get a loan with them.

    I am looking for about 2500 to 3000 euro for a new computer capable of doing advanced 3d design work. Soon i'l be studying this and joining a course hopefully and i want to improve my skills beforehand. Right now I'm planning on putting in 100 euro a week over the next 10 - 12 weeks. I am unemployed but i have been accepted onto an internship which will give me 50 euro on top of my current payment and i am back at home which is also leaving me with more money, so this is really the perfect time to do it.

    I am planning on taking it out over a 12 month period and paying atleast 60 a week, I have no credit history and am living in waterford.
    Do you think my application will be accepted if i can pay 100 euro a week over the next 3 months or even 2 months? If not is there anywhere else where this might be possible. Help would be greatly appreciated! Thanks.


Comments

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    #2
    mackmuffin
    Closed Accounts Posts: 305 ✭✭mackmuffin


    You'll need to save with them for awhile first before they'll even let you apply for a loan


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    #3
    dahamsta
    Banned (with Prison Access) Posts: 16,659 ✭✭✭✭dahamsta


    Correct. Credit Unions are independent and each has different rules and policies, you'll need to ask them for a definitive answer.


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    #4
    Bolger91
    Closed Accounts Posts: 4 ✭Bolger91


    Ah okay well I'l be in there tuesday anyway so I'l just ask them for some info then. Do any of you know if it would be faster through the aib maybe as they have about same interest rate on a loan like this. Thanks for the answers ;)


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    #5
    mackmuffin
    Closed Accounts Posts: 305 ✭✭mackmuffin


    Bolger91 wrote: »
    Ah okay well I'l be in there tuesday anyway so I'l just ask them for some info then. Do any of you know if it would be faster through the aib maybe as they have about same interest rate on a loan like this. Thanks for the answers ;)

    I would be inclined to go with credit union as once you have one loan with them paid up in full and on time you'll have a good credit history with them


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    #6
    manutd83
    Registered Users Posts: 324 ✭✭manutd83


    Hey,does anybody here know if i can make bank transfers or standing orders from the bank to a credit union,such an ordeal to get there,obviously not really but it would be fairly handy,thanks in advance


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    #7
    dahamsta
    Banned (with Prison Access) Posts: 16,659 ✭✭✭✭dahamsta


    You should check with your CU, but generally you transfer into a general bank account with your CU account number in the reference, so they can see the intended destination.


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