I applied for a 3000 top up loan from my local credit union and have been refused as I have 250 arrears on the existing loan. I am paying on standing order and I have not received a statement in over a year. These arrears are there and Iwere reducing nicely but not nicely enough. I am with them over 20 years, and not likely to do a runner. I probably would have made more of an effort if they sent me a statement. Is this unusual.?
It's not unusual to be refused a loan even by the CU. Any lender will assess loan applications on their own merits and in the light of the applicant's specific circumstances.
Many CUs have a policy that if you are in arrears you cannot top up. Given the relatively small amount of your arrears, you could ask that the matter be considered at the next Board meeting.