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Credit Union question

redzerdrog · 2016-03-09 08:52:18

Say for example I have 10K in savings and an 8K loan in the credit union. Is it a no brained to just clear the loan or am I missing something? Would I still need to pay the interest that is due? Apologies if it a stupid question

09-03-2016 8:52am

#1

redzerdrog

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Join Date: July 2006

Posts: 7635

Say for example I have 10K in savings and an 8K loan in the credit union.

Is it a no brained to just clear the loan or am I missing something?

Would I still need to pay the interest that is due?

Apologies if it a stupid question

0

Comments

#2 11-03-2016 12:24pm

bungaro79

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Join Date: January 2010

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i think it differs from credit union to credit union. in mine you need to have 25% of the balance in your savings account but i wouldn't see why you couldnt pay off a bug chunk of it if you want. quick phone call give you your answer

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