Irish Credit Union

[ant000]

At the moment im looking to secure finance to fund an integrated course in Jerez.

One possible way of doing this mite be the credit union.Ive been saving regularly with them for about ten years(Although the amount ive saved is very small)

Id like to know if anybody has any experience of dealing with the credit union in Ireland as regards loans for training?

Any help much appreciated, Cheers

[Boeing737]

interesting post ant, i too have considered this! I did borrow a grand from the credit union before and their interest rates are low (a grand greatly differs to 92,000 though :} ). I decided how much i wanted to pay back monthly. It is definately worth looking into. Why not contact them by email? Can you let me know if you hear anything??
Considering a trip to Jerez very soon!
Best wishes

[TolTol]

As B737 said, your best bet is to contact your local union. However, I do remember something about a limit on the amount they will lend you, something like 3 or 5 times your account balance, I could be wrong:oh:

[Dougle Mcguire]

I think TolTol is right........... They will only lend you a multiple of your savings. Three or four times I think, or at least thats what it used to be four years ago. I tried them but had no luck. They are great when you are buying your first clapped out Fiesta, however the plane driving game is not their cup of tea. I went to Ulster Bank, with my Dad and his land as a guarantee.......... they were throwing money at me, albeit pre 9/11. Good luck anyway, hope all goes well. Dougle

[conor_mc]

Some of the larger CU's don't limit loans to a multiple of your savings, but as is the rule with credit unions, you have to live or work within their area to take out any loan with them - so you can't shop around unfortunately.

Having 10 years of saving record with them will help alot, as will any sort of security you can provide. A secured loan may also be 1-2% APR cheaper, which is a lot if you're borrowing 92k.