Length of CU membership before obtaining loan?

B

Biggarm

Registered User
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How long would I need to save with a CU before successfully applying for a relatively small loan (€1,500 to €2,000 approx.)?
 
I think its a case of building up a regular savings record for a few months first. As its a first loan then there may be limits on it depending on the amount in savings already.
 
Very much depends on the CU these days. If you comfortably have the capacity to repay some CUs would happily lend to you straight away. However, some do still have a policy that requires a member to have an established savings record, so your best bet is to check with your CU.
 
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