# Credit union savings



## Cuddlyd (18 Jan 2019)

Can I access some of my savings from credit union? I have a loan but it's all up to date regarding payments. I'm really struggling after Christmas and my oil has just run out, I really don't know how I'm going to manage if I don't get some money


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## VBiz74 (18 Jan 2019)

If your loan is less than your shares they will let you withdraw,  but if not the loan is secured against the shares to my knowledge.  Maybe give them a call and check.


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## Humpty Dumpty (18 Jan 2019)

Was limiting people from accessing their savings due to loans not deemed to be illegal or something to that effect?


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## Brendan Burgess (18 Jan 2019)

The only way to find out is to ask the Credit Union. 

They might not let you access your savings, but they might give you  a fresh loan.

Brendan


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## Fiddlybits (18 Jan 2019)

AsV Biiz74 said. Any savings since loan was drawn down can be withdrawn.


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## Slim (19 Jan 2019)

The credit union can allow you to reduce your savings as long as they don't fall below 25% of current loan balance, provided they have confidence in your ability to repay.


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