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Credit Union Q

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  • 26-07-2005 2:18pm
    #1
    LundiMardi
    Closed Accounts Posts: 3,144 ✭✭✭


    Hi all,

    I have a credit union loan of €4000 that i'm paying back, i've paid about €1000 back so far. Now the thing is there are some things that i need and i'd rather not put them on my credit card. I've been told a credit union would 'top up' a loan if requested, is this true?

    I'd need about €1500, so i have no problem paying another €500 off the loan to bring it down to €2500, and then ask if i could borrow another €1500 to bring back the loan to my original loan amount again, ya get me?

    I have excellent credit, there's been money going into my CU account since i was about 12(thanks mum ;)) and i've paid back all my loans well within time. I have a full time permanent well paid job.

    Would they do this?


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    #2
    gaui3d0pnbz86o
    Closed Accounts Posts: 738 ✭✭✭gaui3d0pnbz86o


    should be no problem, top up loans are commen. as long as you have enough savings to cover the loan. most times its 4 times the savings eg:

    savings 2500
    max loan 10000


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    #3
    LundiMardi
    Closed Accounts Posts: 3,144 ✭✭✭LundiMardi


    i can't even remember what my savings are to be honest, but my original loan was 4000 so i don't see there being a problem getting that again, maybe a couple of hundred more but that's it


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    #4
    beller b
    Closed Accounts Posts: 1,033 ✭✭✭beller b


    If your rating is good they will do it for you no problem!


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


    Credit unions are the business really ! They will top up the loan without any problems and don't seem to mind overly if you get behind in your payments a bit. That said they are dearer than the banks (nowadays) and its a pain having to keep a certain sum of money on deposit.


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    #6
    drdre
    Closed Accounts Posts: 8,245 ✭✭✭drdre


    yeah credit unions are great they shouldnot cause a problem


    anyway i was gettin a car loan for 25000 yoyos and i was told that credit union were charging me 11% interest and the car dealer did it for 6.5%
    i always thought credit union was cheapest but its not the case.
    thats just my story i wanted to tell u guys:rolleyes:


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    #7
    angeldelight
    Registered Users Posts: 5,175 ✭✭✭angeldelight


    yep, you shouldn't have any problem. my parents do that every christmas lol


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