Why loan or credit card applications may be declined

Understanding why applications are declined can help you identify the steps to take to qualify in the future. We evaluate all UNFCU loan and credit card applications equally, based on several factors. If your application is declined, we cite the specific reason in our loan declination notice.

Top reasons for declined applications 

A loan you had with a creditor was not paid as per the agreed terms. As a result, the creditor transferred the loan to a collection agency and/or took legal action to collect the debt. 

A review of your loan payment history, including UNFCU loan payments, shows late or overdue payments. 

Based on your current income, we deem it will be difficult for you to repay your existing loan obligations. 

Your current income does not qualify you for the loan amount you requested.

When evaluating a loan request, we consider conditions in the country in which you work. We also consider the stability of the currency you earn. These factors are important considerations because they can directly affect your ability to repay your loan. 

All UNFCU loans are in US dollars. If the currency you earn drops in value against the US dollar, this could create hardships for you while repaying your loan. 

The country in which you work matters because it impacts your source of income. We need to consider future employment opportunities in the event that the UN leaves the country. 

For more information, view FAQs about loan eligibility

Certain factors indicate that you are taking on too much debt. These factors include the number of loan requests and inquiries you have made in the past 12 months. The total balance of your existing loans may also be a factor. 

Here are the maximum loan balances you can have with us, if you are eligible for unsecured loans:

  • If you are a UN consultant, you can have unsecured loan amounts totaling up to $75,000. This does not include lines of credit. Your loan amount depends on a number of factors, including the length of your UNFCU membership.
  • If you are a National Professional Officer or General Service staff member eligible for our unsecured loans, you can borrow up to $75,000. This does not include lines of credit. 
  • If you joined UNFCU by becoming a member of a membership association, you will be eligible for unsecured loans after one year. You can have unsecured consumer loan amounts totaling up to $20,000. This does not include lines of credit. 
  • If you are not employed by the UN, you can have unsecured loan amounts totaling up to $75,000. This does not include lines of credit. 
  • All other loan eligible members can have unsecured loan amounts totaling $150,000. This individual maximum includes unused lines of credit. It can be extended to $225,000 if you have or are applying for one of our international home loans. 

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