February 24, 2020
How To Apply A Credit Union Loan
Many people still view the Credit Union as old fashioned when trying to apply for a loan. With banking fees continuously on the rise and adding up in the long term unknowingly. People seem to forget the small things the Credit Union offer that the banks don’t, for example: flexible repayment options, no banking fees and no penalty for early repayment of the loan balance. On top of that we say yes to over 95% of loan applications, so if you are thinking of borrowing from another financial institution, we say don’t BANK on it.
We will go into more detail later in this article, but first you are probably thinking ‘everybody says how great their loans are, but how do you actually apply for a loan?’
Capital Credit Union Loan: What you need to do
To apply for a loan from Capital Credit Union, you must become a member, that means you are not just a customer but an owner of the Credit Union. At Capital, we have numerous branches around Dublin 2, 4, 6, 8, 12, 14, 16 and 18, so if you live, work or study near these areas, you are eligible to join. Becoming a member sounds like a long procedure but honestly it only takes a couple of minutes! You can apply for a loan the same day you become a member. Loan decisions are based on your ability to repay the loan and not how long you have been a member. We don’t just do small loans, whether it’s a home improvement works e.g. extension, insulation work, renovations etc. you can borrow up to €100,000. We even do mortgages where you can borrow up to €300,000.
What Documents do I need for my loan?
The minimum paperwork we will need is 3 months up to date recent bank statements and 3 most recent payslips. However, we may also require additional paperwork depending on the amount your are applying for, Once you have submitted a loan application, one of our expert loan officers should be in touch with you within 3 hours, depending how busy the office is.
Will I be dealing with a robot?
We have noticed some people getting refused for a loan before even getting a chance to talk to a real human being, we can gladly say you will be speaking directly to our expert loans team and to remind you, we approve over 95% of loan applications. Again this depends on the type/size of the loan you are looking for.