Before you apply

How the application process works

Who can apply for a loan?
Current members can apply for a loan at any time. Assuming you are eligible, it is also possible to join and become a member of the credit union at the same...
Mon, 29 Apr, 2019 at 3:27 PM
Will applying for a loan affect my credit score?
When you apply, we’ll ask for your permission to pass certain details from your application on to a credit referencing agency. This process, usually referre...
Wed, 26 Aug, 2020 at 3:20 PM
I already have a loan with you. Can I re-apply?
Usually, you’ll need to have paid off at least 1/3 of your existing loan before we can give you an additional loan. If you have a CUOK! Loan with us, this n...
Fri, 8 Nov, 2019 at 10:01 AM
How much can I apply for?
The amount we can offer you will depend on your individual situation. We consider things such as as your income, employment and spending habits to decide wh...
Fri, 8 Nov, 2019 at 10:09 AM
Is my application likely to be approved?
Your chances of approval will depend on the type of loan you have applied for and your circumstances. All loan decisions are taken based on our loan policy...
Mon, 29 Apr, 2019 at 3:29 PM
Does a bad credit score mean my application won't be approved?
Not necessarily, though we will take your credit history into account. Unlike many lenders, your credit score is just one of several factors we consider...
Mon, 10 Feb, 2020 at 12:27 PM
Will my credit score be harmed if I apply and am not approved?
When you apply, we’ll ask for your permission to pass certain details from your application on to a credit referencing agency. This process, usually referre...
Mon, 10 Feb, 2020 at 12:31 PM
If I am approved, will it improve my credit score?
If your loan application is approved, a record of the loan will be added to your credit file. This will be updated each time you make a loan repayment, so o...
Mon, 10 Feb, 2020 at 2:29 PM
What is an overdraft?
An overdraft is an agreed amount of money which is available for you to borrow whenever you need to. Unlike a loan, an overdraft is agreed in advance. T...
Thu, 7 May, 2020 at 11:56 AM