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credit unions

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  • 12-04-2005 12:36am
    #1
    Our man in Havana
    Closed Accounts Posts: 29,476 ✭✭✭✭


    How much will a credit union lend say on the basis of 1000 euro in savings?


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    #2
    monkeyfudge
    Registered Users Posts: 23,216 ✭✭✭✭monkeyfudge


    A few years ago I was able to borrow £5000 with £1000 in savings. My savings in the Credit Union had been around £600, and they asked me to bring it up to £1000 to qualify.


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    #3
    Our man in Havana
    Closed Accounts Posts: 29,476 ✭✭✭✭Our man in Havana


    Thanks for that monkeyfudge


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    #4
    MidnightQueen
    Registered Users Posts: 2,601 ✭✭✭MidnightQueen


    Do Credit Unions take 20% off your savings when u want to close your account?


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    #5
    LegacyUser
    Registered Users Posts: 166,026 ✭✭✭✭LegacyUser


    In my credit union the first loan cannot exceed your share total, and the second one can then be up to 3 times your share total.


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    #6
    vector
    Registered Users Posts: 1,756 ✭✭✭vector


    KittyKat wrote:
    Do Credit Unions take 20% off your savings when u want to close your account?

    AFAIK no, but if that was the case then just do a normal cash withdrawl and leave EUR 1 in there and then close the acount and you'll only lose EUR 0.20


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    #7
    MidnightQueen
    Registered Users Posts: 2,601 ✭✭✭MidnightQueen


    :) Thanks for that!


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    #8
    RainyDay
    Closed Accounts Posts: 6,925 ✭✭✭RainyDay


    Bond-007 wrote:
    How much will a credit union lend say on the basis of 1000 euro in savings?
    Every credit union has their own policies/rules. You'll need to check out your own credit union.
    KittyKat wrote:
    Do Credit Unions take 20% off your savings when u want to close your account?
    Definitely NOT - Where did you get this from?


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    #9
    jesus_thats_gre
    Registered Users Posts: 17,441 ✭✭✭✭jesus_thats_gre


    There are two locals ones here . One has no limit and the other is a multiple of 8.


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    #10
    MidnightQueen
    Registered Users Posts: 2,601 ✭✭✭MidnightQueen


    RainyDay wrote:
    Every credit union has their own policies/rules. You'll need to check out your own credit union.

    Definitely NOT - Where did you get this from?

    Heard it from a friend, but she got the whole thing wrong.


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    #11
    parsi
    Site Banned Posts: 5,904 ✭✭✭parsi


    Well maybe she was referring to the fact that you can't withdraw yer whole chunk of savings once you get the loan - the original savings as security,,,


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    #12
    MidnightQueen
    Registered Users Posts: 2,601 ✭✭✭MidnightQueen


    Ya actually that makes a bit of sense now. Cheers. :)


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