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How is collateral connected to a loan from a bank or credit union?
Wiki User
∙ 7y ago
Collateral - in the form of a repayment promise or property... is a 'guarantee' that the person will repay the debt. If the borrower defaults on the repayments, the creditor can recover their money from the guarantor.
Wiki User
∙ 7y ago
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Is it possible to get financing for my heavy duty truck at a credit union instead of a traditional bank?
Yes, it is possible. However, if your credit is not up to par, the Credit Union will most likely require you to put down a collateral to secure the loan.
Is union bank in California connected to nigeria union bank?
No, absolutely not.
Does frank billy work for standard credit union bank?
Frank Billy work for Standard credit credit union bank?
Is orkfield credit union a valid bank?
yes Orkfield credit union is a valid bank here in the UK
How much money does a credit union bank teller earn?
Credit Union Bank tellers earn the same salary as bank tellers.
How can you obtain credit from HSA bank?
"Almost any bank or credit union can be an HSA provider. In order to obtain credit, credit has to be in good condition. Check with your local bank or credit union for more information."
How is a credit union different from a retail bank?
a credit union is a non pprofit entitly, a reatail bank is a forprofit entity!!
Is Standard Credit Union Bank a real bank?
No
What is the differentce between a bank and a credit union?
A bank's profits go to the bank and its chief officers. The profits of a credit union go back to its members.
What are three organizations that use credit reports?
a bank, credit union, etc. issuing credit cardsa bank, credit union, etc. making car loansa bank, credit union, etc. making mortgageslandlords, however they only get a very limited partcriminal investigation agenciesetc.
What are the three difference between a bank and a credit union?
A bank holds and stores money, and a credit union is for a temporary holding for money, and your only suppose to have a certain amount of money in the credit union
Is belonging to a credit union better than a bank?
Most people who have associated with both will tell you that the credit union is better. There are many benefits to having a membership with a credit union that a bank does not offer.
