Information on Policies, Procedures and New Products (answers to some commonly asked questions)

  • New Credit Union members are eligible to apply for their first loan thirty (30) days after joining the Credit Union
  • The minimum loan request for personal unsecured loans is $1,000
  • You cannot refinance a personal loan until the loan is paid down to below $9000.00 from scheduled monthly payments. 
  • A complete signed application is required on all loan requests.
  • The purpose of the loan request is required on all applications (“personal” is not a valid reason).
  • A current credit report is obtained on all loan applications.
  • If requesting a bill consolidation loan, you will be asked to provide copies of the bills to be consolidated. The Credit Union has the option of controlling the payout of the loan to your creditors.
  • When requesting a home improvement or home equity loan, you may be requested to supply estimates on loans exceeding $2,500.
  • Eligibility on personal unsecured signature loans is based on the years employed with current federal agency or business:
    • 30 days after joining Credit Union …..$2,500 maximum loan (must wait 6 months before refinance)
    • Up to 3 years employed……………….5,000 maximum loan
    • Over 3 years employed……………….10,000 maximum loan
  • Auto Loans – Two full years of service before qualifying for an auto loan.
  • Education Loans – One full year of service before qualifying for an education loan.
  • Payroll allotments are required (when available) to receive quoted loan rates.
  • All loans require a pledged amount equal to one (1) loan payment plus $50. This amount should remain in your account at all times.PLEASE CLICK ON THE LINKS TO THE SPECIFIC TYPE OF LOAN YOU MAY BE INTERESTED IN FOR MORE DETAILS…OR CALL (609) 585-4334