# CU Membership.



## Markove (31 Jul 2019)

Do credit unions generally accept applications for membership from those whose sole source of income is a social welfare payment and, if so, are loan facilities available for small amounts of up to three thousand euro?


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## Gordon Gekko (31 Jul 2019)

Markove said:


> Do credit unions generally accept applications for membership from those whose sole source of income is a social welfare payment and, if so, are loan facilities available for small amounts of up to three thousand euro?



Yes, my understanding is that they do.


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## Monbretia (1 Aug 2019)

Yes they do and what sort of limit on borrowings they would set would depend on each credit union and the amount of income of the applicants even if just social welfare it can vary obviously from person to person as well as their outgoings differing.


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## @21Cre (1 Aug 2019)

Yes, they do. In most cases income and capacity to repay are the main criteria. 
Some credit unions are also participants in the It Makes Sense Loan scheme which is specifically designed to help those on low incomes access credit. Details can be found at https://itmakessenseloan.ie/
All the credit unions that participate are listed on the site.


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## Markove (1 Aug 2019)

If the applicant is a homeowner would that be taken into account or only in the case of larger covered loans?


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## Monbretia (1 Aug 2019)

Ability to repay is always the number one criteria, security of a property isn't much good unless you want to repossess it so that's not attractive to any lender.   A larger loan could be secured on an asset but again ability to repay would come first, the security might get you a better rate though.


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