Loans
Loans to Members outside of the Common Bond
The board of director has decided that it shall lend to members outside the common bond subject to standard rule 44(6) and that such loan will not exceed 10% of all loans.
Members who once held the common bond will continue to pay off their existing loans in the normal manner but if they require a top-up loan then this must be approved in the manner prescribed under standard rules 45(3). The exception to the approval method is where the member’s savings exceeds their loan and this is set out in standard rule 45(5).
Loan Applications to members who live outside the common bond can only be passed by the Board of Directors of Tallaght West Credit Union Limited.
Board Meetings to consider these loans are generally held on the 1st Tuesday of each month.
It is important that applications are submitted on a timely basis, and completed correctly to ensure there are no delays in processing.
Please check with the Credit Union that the application has enough information and that the information requiring verification accompanies the application.
Members are requested to provide pay slips/ proof of income and bank statements for all loan applications.
