Am I Eligible for a Loan?
If you are a member and you have shares saved then you may apply for a loan. No two cases are the same and each loan application will be looked at on its own merits. However some general guidelines about the criteria for loan assessment are as follows:
- Are you saving regularly
- How much you have in your savings
- Your ability to repay the loan
- Your previous history with the credit union
- Your credit check with ICB – This checks other loans, mortgage and credit cards
- How long you have been a member