Answer:
by Randy Carey:
I do not understand your question. In order to apply for a loan at a credit union, you have to be a member. If you are not a member, a credit union cannot make you loan. It has nothing to do with qualifying.
Answer:
by Richard Insley:
12 U.S. Code ยง 1757 grants federal CUs the power "to make loans...and extend lines of credit to its members...." Although this law isn't explicit, I read it as a "back door" prohibition of loans to non-members. Accordingly, if the CU's only lending standard is that a person must be a member to apply, there should be no problem.
Should the application standard include a minimum balance requirement (exceeding the balance necessary to become a member), then the practice would have to pass muster under the various non-discrimination laws (ECOA, FHA, etc.)
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