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Loans from Credit Unions

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  • 23-05-2013 10:39pm
    #1
    thesaturdayman
    Registered Users Posts: 532 ✭✭✭


    in an unrelated note, how are the credit union for loans? i had a loan out with them for last 2-3 years of 14000 covering car and education, recently i have had a new job and made some significant inroads, basically smashed it down to 1800 loan is about 2 yeas ahead in payment schedule, but im looking for another loan now as i need a better car... as im doing 800-1000 km per week cos of where i am based so i went about applying and cos my savings amounted to 700 and loan to 1800 they only offered me a loan of 300!!

    apparently it is policy now to only loan 3 times the savings regardless of track record? anyone else here of this?

    now here is the thing, i have 5k in savings in another institute if i whack this into cunion and apply then could they knock me? or are they lending at all?

    thanks


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    #2
    RainyDay
    Closed Accounts Posts: 6,925 ✭✭✭RainyDay


    thesaturdayman wrote: »
    in an unrelated note, how are the credit union for loans?
    Every credit union is different. They all have their own policies about loans. You'll need to speak to your own CU to see what they would do. Are you eligible for any other CUs, maybe near your workplace or through a professional group?


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    #3
    BuffyBot
    Registered Users Posts: 24,924 ✭✭✭✭BuffyBot


    Please don't hijack other people's threads - especially with an unrelated question: not only is it unfair to them, but it makes your query less likely to be noticed.

    I've split this off into a thread of it's own.


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    #4
    halkar
    Registered Users Posts: 1,257 ✭✭✭halkar


    CUs are lending but they are getting more strict. In the past I was able to get loans in the same day. Recently I had to get a letter from my bank showing I have no mortgage arrears etc. Getting harder to get 3 X Shares loans but it is possible depending on your history with them. Talk to them before applying.


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