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  • 20-08-2021 3:01pm
    #1
    Registered Users, Registered Users 2 Posts: 2,547 ✭✭✭


    I applied for a Credit Union loan last Friday and still haven't had word back, I'm guessing that's not a good sign?



Comments

  • Moderators, Business & Finance Moderators Posts: 17,858 Mod ✭✭✭✭Henry Ford III


    Ask them.



  • Registered Users, Registered Users 2 Posts: 3,817 ✭✭✭Darc19


    Many credit unions have "credit meetings" every week or so when applications are approved.

    So if these meetings were on a Friday or Monday, your application may only have been discussed yesterday or possibly not until Monday


    Usually when you apply they will give you a good idea of likely success based on standard criteria - employed, good credit record, history with the credit union, ability to repay.

    Where there are potential issues such a previous poor credit history, it goes for further scrutiny.



  • Registered Users, Registered Users 2 Posts: 25,622 ✭✭✭✭coylemj


    Depending on the size of the loan, it may require approval by a committee and given the times that are in it, the process may be slower than normal. I wouldn't read anything into the delay.



  • Registered Users, Registered Users 2 Posts: 2,547 ✭✭✭Seanachai


    I got it anyway thankfully, I can get myself a decent fridge and a few other bits and pieces.



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