Loan Procedures: Applications for loans must be completed and submitted with appropriate documentation to the Credit Union office for approval by the Credit Committee.
- First Loan: To be eligible, you must be an active member a minimum of three (3) months.
- Share Loan: Share loans are available up to the amount of your shares. You pledge your full shares as collateral for the loan. Your shares continue to earn dividends on the full balance.
- Signature Loan: The maximum loan amount is twice your monthly salary not to exceed a total of $10,000.00. Ten (10) percent of the loan balance is to be on deposit in your share account as collateral.
- Refinancing: Loans may be refinanced provided that 25% of the original loan amount has been repaid. A processing fee of $25 will be charged. A minimum share balance of 10% of the loan balance is to be on deposit in your share account as collateral.
- New Car Loan: Maximum loan amount is not to exceed the dealer list price.
- Used Car Loan: Maximum loan amount is based on the Red Book value.
- Home Equity Loan: Fixed rate with maximum amount $60,000 up to a 15 year term.
When making an application for a car loan, bring a copy of the dealer's sales agreement, valid drivers license and proof of current or pending auto insurance coverage.
Interest rates and term limits are subject to change. Rates and terms are published in the Quarterly Newsletter. For the most current data, contact your Loan Officer.
LOAN APPLICATION
You may pick up an application from our office or download your own using the following links: Home Equity Loan | Signature / Auto Loan
AUTO LOAN CALCULATORS
Figure out your monthly payments, how much you can afford by choosing the various auto loan calculators available
Auto Loan Calculators
HOME EQUITY LOAN CALCULATORS
Figure out your monthly home equity monthly payments based on your interest rate and how much you can afford by choosing the various home equity loan calculators available.
Home Equity Loan Calculators
