Credit Union loan..

iHateManCity

Hi,

I have a few questions about getting a CU loan, what do I need to bring when applying?

It's been a while since I got one so I'm not sure..
Also I wonder if anyone could tell me how much I'm likely to be able to get if I have a good history of paying loans back?

I have €500 in my shares and I was hoping to get €1500 to go towards a holiday and spending money, is this unrealistic?

Thanks

kkontour

All depends on ability to pay.
If you have a history you should be able to get the €1500, as long as you can pay back in 12 months.

iHateManCity

kkontour wrote: »

All depends on ability to pay.
If you have a history you should be able to get the €1500, as long as you can pay back in 12 months.

thanks for the reply, does anyone know if you need to provide a bank statement when applying for a loan?

It's just I recently closed my account with my bank as I wasn't using it much

oranbhoy67

I tried to apply for a loan today with my CU and was told i need my last 3 months of bank statements.. which is kind of a problem for me as i seem to have mislaid them, i told the lady behind the counter that i dont use my bank anymore anyway since i joined the CU but to no avail as without the statements i wont get to apply!!.. despite the fact all the statements are going to show is that i dont use my bank account- i just keep it open incase i need to & - tbh i am going to start using it again now as they have replaced the uselsess laser cards with visa debit cards
i have just paid off my first CU loan 2 months in front of schedule and it would be nice if the CU could give me a break on this but i understand rules are rules etc

so i too basically would like to know what would happen if i didnt have a bank account?? does having no bank account = no chance of a CU loan ?

iHateManCity

oranbhoy67 wrote: »

I tried to apply for a loan today with my CU and was told i need my last 3 months of bank statements.. which is kind of a problem for me as i seem to have mislaid them, i told the lady behind the counter that i dont use my bank anymore anyway since i joined the CU but to no avail as without the statements i wont get to apply!!.. despite the fact all the statements are going to show is that i dont use my bank account- i just keep it open incase i need to & - tbh i am going to start using it again now as they have replaced the uselsess laser cards with visa debit cards
i have just paid off my first CU loan 2 months in front of schedule and it would be nice if the CU could give me a break on this but i understand rules are rules etc

so i too basically would like to know what would happen if i didnt have a bank account?? does having no bank account = no chance of a CU loan ?

I just noticed an email from them when I asked about the need to co-sign after being told by a friend it was needed..

Hi Brian

When you are applying for a loan you do not need someone to co-sign it unless a guarantor is required. You need to come in with proof of income as in three payslips or three social welfare receipts or a three month bank statement.

I noticed they kept saying or as if only one of the above was needed

Anyone

All Credit Unions are seperate individual companies, so rules might differ from one to another. So its impossible to give answers/advuce to individual loan queries.

The best people to ask is your credit union.