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Helpful hints in securing a loan
Build your borrowing capacity
TECU Credit Union partners with you to make achieving all of life’s goals a reality. Our character and other loans are assessed based on your ability to service a loan in addition to the following credit worthy aspects:
Present shareholding and frequency of contribution towards shares
Assets such as property, vehicles, savings at other financial institutions and Liabilities i.e. other loans/ debts
Employment status and history
Your Shareholding and share buildup within the credit union
Your Share to Loan Ratio, which is your total shares divided by the total loans that are currently outstanding (Shares/Loans)
Your existing loan balance and your indebtedness
Savings, Borrowing and Repayment History within the credit union
The primary purpose of the loan
Your age, current salary, employment status and duration of membership
The availability of adequate and marketable security and other assets