# Borrowing from Credit Union



## Ned_ie (18 Feb 2009)

Hi all

I am looking to borrow about 10k in order to erect an office to the rear of the house. Unfortunately my own bank seems to be somewhat reluctant to give me the money  - a sign that they are perhaps a little too stretched! Un fortunately that does not solve my problem. I have paid 2k over for the shed at the moment so need to move fast in order to put the rest in place. 

I have another 1500 and was wondering if i go to a credit union would they give me a loan of 10k on the strength of the 1500.

And actually thinking of it might be able to increase this to 3000 by the end of the month

any help appreciated in relation to this matter.

many thanks


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## Padraigb (18 Feb 2009)

If you are not already a CU member, chances are they won't be interested.

If you are a member, then ask there, not here.


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## TLC (18 Feb 2009)

Why did Padraigb have to say "ask there, not here"  Isn't it the whole purpose of this site for people to look for advice?


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## DubShelley (18 Feb 2009)

Yeah I thought it was a pretty ignorant repsonse myself! 

OP - My boyfriend just opened up a CU account himself last week and they were pushing lots of loan info on him so chances are you may be in luck. No harm in giving it a go!!


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## bond-007 (18 Feb 2009)

It depends on the size of the CU. The one I am in is small and a €10k loan would be around their limit. No harm to ask them.


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## Padraigb (18 Feb 2009)

TLC said:


> Why did Padraigb have to say "ask there, not here"  Isn't it the whole purpose of this site for people to look for advice?



Because each credit union has its own policies and practices. I could make a reasonable guess about the likelihood of success in the CU of which I am a member, but that is probably irrelevant.


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## Padraigb (18 Feb 2009)

DubShelley said:


> Yeah I thought it was a pretty ignorant repsonse myself! ...



If you think a post is inappropriate, report it. Don't attack people.


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## Sue Ellen (18 Feb 2009)

Padraigb said:


> If you are not already a CU member, chances are they won't be interested.
> 
> If you are a member, then ask there, not here.





Padraigb said:


> If you think a post is inappropriate, report it. Don't attack people.



Padraigb,

Indeed your post has been reported by quite a number of posters and rightly so.  The majority of AAM users are here to help each other.  You should bear this in mind the next time you seek advice.


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## noddy (18 Feb 2009)

Hi Ned, the 1500 your talking about do you have that in shares? Have you borrowed from the credit union before, how long are you a member. If you post more details there are plenty of really helpful members on the site who will help you. good luck.


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## Ned_ie (19 Feb 2009)

Thanks all for your comments.

Noddy - The 1500 I have is in another bank at the moment. Neever borrowed from a CU before. am a member of a CU with a whoppin €2 i'd say there since donkeys ago. ButI am now living about 200 miles from there


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## ontour (19 Feb 2009)

If you do not have an office elsewhere you will be limited to the one credit union in your locality that you are in the 'common bond' of as your work and home will be the same place.  The size and current ratios of that credit union will probably have a significant bearing on their desire to lend to you.  Given your career they will probably assume that you have a very good grasp of finances so that should be in your favour.

It is worth giving them a call and setting up a meeting with the manager / loans officer.


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