Credit Union Stringent vs Leniant Standards

[Anonymous]

As many of us are, I am in the process of rebuilding my credit.  This forum has been invaluable as I work through this process.  I do have a few questions that I haven't seen addressed here.

How are Credit Unions able to approve folks at a higher rate than traditional banks?.

Which CUs appear to be the most lenient?

Which CUs appear to be the most generous?

WBLAKE

[Anonymous]

You're a simply a customer at a bank and banks look at bottom lines - they could care less about your financial problems.  Credit unions are more lenient because you are considered to be one of them, one significant member out of many.  You're a member/part-owner with voting rights and some control, not some customer they can just yank around any way they choose, so they're more apt to take care of you and really consider your entire situation.  It's like a family - they take care of their own.

Message Edited by HouseHunter on 09-05-2007 07:32 AM