Are credit union loans easier to get?

Answer by  DougThomas (74)

"Easier" is a relative term without a qualifier but generally, yes. Credit Unions are typically not for profit organizations where the assets of members (savings, Certificates of Deposit, etc. ) are lent to other members for mortgages, car loans and consumer debt. Finance decisions are often made by a committee and can frequently be appealed to a board.

Answer by  flamiss22 (5081)

Credit union loans are not that much different from banks. However some groups like the Teamsters will have guaranteed loans as a part of the membership.

Answer by  carrots (156)

I believe it is easier to get a credit union loan because you are a member organization that is industry related. Funds are set aside for their members for loans.

Answer by  bonnie56 (359)

Credit Union loans are usually easier to get than loans for other financial institutions. However, you must remember that you must be a member of the credit union in order to be eligible for a loan from them.