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  • Profile photo of LeswonLeswon
    Member
    @leswon
    Join Date: 2004
    Post Count: 24

    What are peoples opinions on borrowing from Credit Unions (namely CUA) in comparison to banks?
    Kind Regards
    Les

    Profile photo of Mortgage HunterMortgage Hunter
    Participant
    @mortgage-hunter
    Join Date: 2003
    Post Count: 3,781

    Credit union loans should be considered along with banks. I doubt there are any really significant difference with a major CU and a bank.

    The smaller CUs generally focus on consumer lending and their property loans sometimes aren’t as competitive.

    Cheers,

    Simon Macks
    Mortgage Broker
    http://www.mortgagehunter.com.au
    0425 228 985

    Comments may not be relevant to individual circumstances. If you intend making any investment, financial or taxation decision you should consult a professional adviser.

    Profile photo of ezy.home.loans23320ezy.home.loans23320
    Member
    @ezy.home.loans23320
    Join Date: 2003
    Post Count: 144

    I have a credit union I use their rates are a little higher, but their criterior for lending is easier
    so I guess it depends on what you are looking for
    what interest you the most? interest rates or finding some one who is willing to lend to you.they lend to sole parents, age pensionera, disability pensioners,
    good credit rating through to bad credit ratings
    nothing is free you have to pay the piper

    Profile photo of AdministratorAdministrator
    Keymaster
    @piadmin
    Join Date: 2013
    Post Count: 3,225

    I am not sticking up for the banks guys but the thought struck me : “If Credit Unions are so easy with their lending criteria doesn’t that place their money at a greater risk ?”

    In other words, is one’s money on deposit in a Credit Union at greater risk than it would be in a bank ?

    Pisces

Viewing 4 posts - 1 through 4 (of 4 total)

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