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Credit union loan question

  • 31-03-2013 4:10pm
    #1
    Colash
    Registered Users, Registered Users 2 Posts: 1,377 ✭✭✭


    How are the credit union for loans ? Car loans , personal loans etc ? I'm considering asking them for a car Loan . Do I have to have a certain amount of savings with them to be eligible for a Loan ? Or can I just prove that I can make repayments ?


Comments

  • #2
    optimus1
    Registered Users, Registered Users 2 Posts: 186 ✭✭optimus1


    You would need both for a strong application


  • #3
    naughtysmurf
    Registered Users, Registered Users 2 Posts: 3,292 ✭✭✭naughtysmurf


    They have tightened up a lot over the last few years, if you don't have an account, open one and start throwing some money into it on a weekly basis, they will need to see a savings history with them before giving you a loan

    They will more than likely do a credit check on you & look for bank & credit card statements & pay slips before approving a loan also

    The amount of shares (savings) you have with them will directly relate to the amount they will lend you although the longer you have been a member with a good record, in my experience, they become more flexible


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