LOAN
PRODUCTS
Competitive
loan rates are a major advantage of our credit union membership.
Our policy is to grant loans for any worthwhile purpose.
Borrowing is fast, uncomplicated and flexible with our Loanliner
lending plan.
Signature
Loans- Personal
loans are available up to $10,000, with terms up to 5 years.
New
Automobile Loans- We offer 100%
financing on new car loans, with terms up to 6 years.
Used
Automobile Loans- We offer 100%
financing of N.A.D.A. book value on used car loans.
Terms are up to 5 years.
Share
Secured Loans- You may borrow
against whatever shares you have in your account.
As you make payments on your loan, your shares become available for
your withdrawal. This
is the fastest and cheapest way to borrow your money.
No credit check or income verification is required.
Equity
Loans- You may borrow against the equity in your home.
We lend up to 80% of its appraised value minus any existing mortgage.
Terms extend up to 10 years.
There are no fees, no prepayment penalty and rates are fixed.
Equity
Lines of Credit-You are approved
for a maximum line of credit using the equity in your home.
You receive a checkbook to write out your own “loans” as you need
them, up to your limit.
You may use these checks for any purpose at all.
You may use the checkbook for up to 10 years, during this time you are
being billed for the interest on whatever amount you have spent.
After those 10 years, you have another 10 years to pay back any
outstanding balance.
There are no fees, no prepayment penalty and rate is variable, based on
the prime rate.
Loan
Repayment- Convenient payroll deduction can be arranged to meet your monthly loan
payments or you may elect to send in your payments each month with a payment
book. Interest
is calculated on the outstanding balance of the loan and there is no penalty
for prepayment of your loan.
Loan
Insurance- Credit Disability and Life Insurance protection are available on all
loans for an additional cost which is included in your monthly payment.
Disability insurance covers your loan payments when you are disabled
from work for 2 weeks or more.
Life insurance pays off your loan in case of death.
