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Credit union student loan

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  • 09-09-2016 1:28pm
    #1
    MazzR
    Registered Users Posts: 130 ✭✭


    Does anyone know, are they the same as an ordinary credit union loan in that you must have regular savings?


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    #2
    CINCLANTFLT
    Closed Accounts Posts: 781 ✭✭✭CINCLANTFLT


    MazzR wrote: »
    Does anyone know, are they the same as an ordinary credit union loan in that you must have regular savings?

    Depends on the lending policy at your local CU... many are reducing or even doing away with the savings before borrowing requirement...


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    #3
    MazzR
    Registered Users Posts: 130 ✭✭MazzR


    CINCLANTFLT wrote: »
    Depends on the lending policy at your local CU... many are reducing or even doing away with the savings before borrowing requirement...

    Thank you


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    #4
    CINCLANTFLT
    Closed Accounts Posts: 781 ✭✭✭CINCLANTFLT


    MazzR wrote: »
    Thank you

    You're very welcome


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    #5
    CINCLANTFLT
    Closed Accounts Posts: 781 ✭✭✭CINCLANTFLT


    maeveclarke wrote: »
    I've been with the credit union for more years than I care to remember. I currently have about 2,500 in savings but a loan out as well. I thought the first loan was double your savings, the second twice and so on. Is that still the case, does anyone know? I'm thinking maybe trying to pay off the loan and then borrow against the savings. Thank you

    I'll just paste my original answer again...
    "Depends on the lending policy at your local CU... many are reducing or even doing away with the savings before borrowing requirement..."


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