DCU not being fixed rate anymore?

[Corndart]

I was approved for 1.24% and they never verified my income. As I posted earlier in this thread, I'm self employed, which typically invites a higher scrutiny on financial applications, and they still never checked my past or present income. Most other posts on this forum about DCU share experiences similar to mine too. Did they ask you for some form of income verification?

Fair. To be pedantic, they asked for "income attestation", meaning you fill in employer and monthly income. They could easily scrutinize how much $$$$ you've setup to auto deposit and see the mismatch but perhaps they just don't care enough to bother.

 

[robeeen]

Call me crazy, but most lenders will ask for some sort of income verification before giving out a loan. So "no way of knowing how much you are truly paid" , in this context, strikes me as incorrect.

I haven’t had to provide income verification for any of the cars I’ve purchased nor this one either- just an approval each time

 

[Corndart]

I haven’t had to provide income verification for any of the cars I’ve purchased nor this one either- just an approval each time

Fair - as noted above, standard loan application requests income details, your credit report will tell the other part of the story.

 

[nate704]

Fair. To be pedantic, they asked for "income attestation", meaning you fill in employer and monthly income. They could easily scrutinize how much $$$$ you've setup to auto deposit and see the mismatch but perhaps they just don't care enough to bother.

Direct deposit means the money directly comes to the DCU account electronically. It doesn’t matter how much you allocate from your paycheck.

 

[Foxx]

I was approved for 1.24% and they never verified my income. As I posted earlier in this thread, I'm self employed, which typically invites a higher scrutiny on financial applications, and they still never checked my past or present income. Most other posts on this forum about DCU share experiences similar to mine too. Did they ask you for some form of income verification?

How did you set up your direct deposit being self employed?

 

[Bassmanbrett]

How did you set up your direct deposit being self employed?

If you're paying yourself from an LLC/Business Account, just set up an ACH transfer for each week. You might have to call DCU and let them know this is your direct deposit as they may not automatically recognize it, but that should be it.