[Samantha]

Good Afternoon,

I am hoping to start a discussion on what other credit unions do when a members savings exceed their loan balance.

Do you contact the member and refinance to a secure loan?

What reason would you not refinance to a secure loan?

Do you allow the member to withdraw the difference from there savings?

If a member asks for a withdrawal would you :

A. Advise them they can top up their loan instead?

B. Allow the withdrawal to go through and do nothing with the loan

C. Allow the withdrawal to go through and refinance on a secure rate

D. Offer the withdrawal as a secure loan, which in turn will convert the whole balance

E. Doesn’t allow withdrawals from savings at all

Thanks 🙂

Samantha Owen Finance Manager Unify Credit Union LTD Email : finance@unifycu.org

Discussion