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Paying CU loan

  • 08-09-2016 10:21am
    #1
    rachelg1
    Registered Users Posts: 55 ✭✭


    I had savings in my Credit Union account before taking out a loan, Is it possible to use those savings now to pay off some of the loan?


Comments

  • #2
    amytomjerry
    Registered Users, Registered Users 2 Posts: 88 ✭✭amytomjerry


    Depends on how much of the loan is left to pay and what savings you have.

    With my credit union loan, I was two months in arrears and they agreed to use some of the savings to clear the arrears. Also, they agreed that once the loan amount left was below the amount of savings I had that yes, I could use the savings to clear loan and close account if I wished. This I am looking forward to very shortly!

    My advice to you is to go in and talk to them directly or else mail them. They are more than happy to work with you. Well that's my experience anyway. Good luck!


  • #3
    rachelg1
    Registered Users Posts: 55 ✭✭rachelg1


    Thank you amytomjerry, mine is in arrears at the moment. I really should have withdrawn more funds before taking out the loan in the first place. I will go in next week & talk to them fingers crossed!


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