CUES Member Community

Loans to Members on Foreign Visa's.

  • 1.  Loans to Members on Foreign Visa's.

    Posted Apr 23, 2020 01:35 PM
    When doing loans to members who are in the U.S. on a Foreign Visa do you allow the loan term to go past the visa expiration date?   Does anyone do loans like credit cards without a term? We currently limit the term to the Visa Expiration date but I'm wondering if others CU's have practices to go beyond the visa expiration term.  Do you have certain requirements to feel comfortable that their Foreign Visa is likely to renew?   Have you run into higher losses on these loans if you do them?

    Also wondering if any lenders out there are lending to borrowers without an SSN?  If so do you still report to credit and would you mind sharing any extra requirements you require to lend to them.  Have you run into higher losses on these loans if you do them?

    Thanks for any input.

    Katie

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    Katie Bott
    AVP/Central Lending
    University FCU
    Salt Lake City UT
    801.481.8800
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