Loan Rates – Please click this link to view our loan rates, available insurance and loan fee’s.
No penalty for early payoff of loans.
How do I apply for a Loan? What paperwork is needed? When will I know if we are approved?
- Please come in an get a loan application.
- Have it filled out completely and signed.
- You will need a copy of your check stubs showing your income and a copy of your most current income tax return.
- Most loans are approved in 24 Hrs.
What criteria must be met to qualify for a loan?
- A credit Report will be pulled on the individual applying for a loan and on the spouse of an individual applying for a loan if married.
- Loans will be made to members based upon their abilities to pay back the loan and their credit standings.
- Maximum loan amount is $60,000.00 per member account and no more than five loans.
- The following combined considerations will determine the approval or disapproval of any loan applications – Good Credit Report; Previous loans with the Credit Union paid off on time; Debt ration below 45%.
- A co-maker may be required when the co-makers worthiness would strengthen loan approval to the applicant. Co-makers are not limited to family members.
- No member can be a co-maker on more than 2 loans at one time.
- No penalty for early payoff of loans.
How will I know if you will loan the amount I need for the vehicle I am buying?
- Come in and tell us the year, make, model and all options that are on the vehicle.
- We will need to know what size engine and how many miles are on the vehicle.
- From this information we will pull the high/low average to see what we can loan.
- We loan 100% on brand new vehicles and 90% of the high/low average on a used vehicle.
What kind of things does the Credit Union loan on?
- New and Used Vehicles
- Machinery and Equipment
- Agricultural Equipment
- Recreational Vehicles
- Metal Buildings
- Motor Homes and Travel Trailers
- Mobile Homes – not converted to real property
What other kinds of loans are there?
- Share loans
- Signature loans