Credit Union

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I am just wondering...Ok like 6 months ago I went to my credit union and asked about getting an unsecured credit card. They said no cause I had like $600 worth of stuff on my credit report. Now I won something in a sweepstakes, a car, if I go to them with verificatrion that I won this car and asked for a loan to pay the taxes on the car, would they say yes now? (I am guessing that they would now say yes, due to I have 100% equity and it is very good collaterial.) A bunch of my friends have said that yes they will, but I wanted to get some information from a person who works at a credit union.

Best Answer

Although I'm not a loan officer at my credit union, I do know that your chances of being approved for a loan greatly improve when you have collateral. It's likely you'll get the loan, especially if you only need enough to cover the tax. Congratulations on winning a car!

I recently started a new job, there is a credit union across the street that everyone uses. I have all these people telling me i should join it as well. I have always used the same bank for many years now, ever since i was 16 and got my first job. I kind of feel hesitant about switching "just because" others have told me its the smart thing to do. I really dont know what the difference is in a credit union and a bank, is there a difference? What are the advantages of being a member of a credit union?

Best Answer

YOU CAN USE BOTH.OPEN AN ACCOUNT AT THE CREDIT UNION MAYBE JUST 50 BUCKS FOR SAVINGS ACCOUNT OR SOMETHING LIKE THAT.THEN WHEN U NEED A LOAN GO TO BOTH AND SEE WHO WILL GIVE U THE BEST RATE.I'LL BET ITS THE CREDIT UNION.BUT ANYWAYS ITS A GOOD IDEA TO USE BOTH.

if i need 9000 dollars and i can put 2000 dollars down as a down payment will i need a co signer or will i run in to any problems. how do i go about getting the loan

Best Answer

First, if you have 2000 dollars, you need 7000. It all depends on collateral, income, and credit score. Speak to a loan officer.

I've heard that credit unions are more people orinted then the bigger banks. Reason I'm asking is I've been denied a student loan from the government and loans from my bank. My ex boyfriend put me into big credit card debt. I've paid it all off but with the way I did it, it stays on my credit profile for another 3 years. I've been trying to save and I have a small limit on a credit card so it proves my trying to rebuild my credit. I really want to go to school. Do you think I'll be wasting my time and theirs if I go to a credit union?

Best Answer

Definately go with the credit unions! I quit using banks a long time ago because I was tired of their fees. Everything I did cost me something. When they decided to start charging me for statements I left them. Many of the people I counsel also have had much more success in getting loans from credit unions. But student loans??? I can't say. They were much easier with secured loans.

Here is my situation I am wanted to open a savings account with my significant other but he is in CA and im in MI. If I open an account here in MI is there a way that he can be added to the account without being here in MI. I know that I have service centers here in MI that any credit union member can go to, to do there banking . Can he go to a service center? I just want him to be able to deposite money into the account.

Best Answer

Depends on which credit union. If they do they will give you a form to fill out. He doesn't need to be on the account to deposit money though. Call the credit unions and they will help you. I know if a credit union is not in your state and you need to make a deposit you can do so at other credit union ATM's the credit union you use will give you a list. Best wishes. Wescom is a credit union in California. The second link is to look at locations of credit unions.