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Let's clear up some things about Credit Unions thanks to Cavan CU.
Saving and borrowing money can be a scary prospect.
It's hard to know where to start but also where to even go with that hard-earned cash.
We're here to bust some myths about Credit Unions to take some of that fear away!
Myth: You have to have savings before you borrow.
Not true!
Credit Unions take other things into consideration other than just your savings to date. You can borrow right away if you're able to show an ability to repay!
Myth: There's a limit on borrowing based on what I've saved.
Nope.
Some people think they can only borrow three times their savings but that's not true. With the Credit Union, you can borrow €50,000 from Cavan CU over 10 years.
And that busts another myth, the lending is generous and not just for small loans. With that they cover everything from Car Loans to Home Improvements and more!
Myth: The process takes ages...
Nah, it's actually impressively quick. Most of the time, you'll get a decision 24 to 48 hours after you send all the bits and bobs.
Myth: Credit Unions just aren't as accessible as banks and ATMs...
Credit Unions actually have 65,000 ATMs available through various networks, so it's as available as they come!
So, sounds handy enough right?
For more info, head on over to Cavan CU on Facebook here or their website here.
