5 56141 Guest 12 Jul 2005 #1 Is there a formula for calculating the true APR of a credit union loan, bearing in mind that the CU hold a deposit before lending? Does this not push the APR near that of a bank?
Is there a formula for calculating the true APR of a credit union loan, bearing in mind that the CU hold a deposit before lending? Does this not push the APR near that of a bank?
R RainyDay Registered User Messages 4,505 12 Jul 2005 #2 We've had some very looooong discussions on this issue in the past. Search for 'credit union' in the Great Debates' forum.
We've had some very looooong discussions on this issue in the past. Search for 'credit union' in the Great Debates' forum.