We have over 20,000 in savings. We haven’t had a loan in years. Last week we went in to borrow 5,000 and we’re told we would have to wait until later this week to apply.This used never be the case where shares were in excess.
We did withdraw the money. The loan was likely to be paid back fairly quickly so we preferred to leave our savings for the rainy day. Just confused as to why the previous common sense approach has been ditched. We could get an online bank loan without the drama. Not sure there’s any point in staying in the CU.
I am involved in Cu and op is definitely not how we operate.
A secured loan would be automatically approved upon proof of repayment capacity as per Aml.
But personally would not take out a secured loan.
Thanks. We have no other loans (including mortgage) and combined salaries of more than 120,000. But we never got that far at the counter as the lady made it quite clear we had to go to the credit committee. Pointless really.
We did withdraw the money. The loan was likely to be paid back fairly quickly so we preferred to leave our savings for the rainy day. Just confused as to why the previous common sense approach has been ditched. We could get an online bank loan without the drama. Not sure there’s any point in staying in the CU.
Had the opposite recently.
My son tried to lodge the cheque for his share of my late mother's estate and they couldn't take it.
Had to wait until the merger with some other CUs in the wider area went through before they would accept lodgements of more that a couple of hundred euros.