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Loan Availability. Loans are available to any member of legal age. The legal age to borrow in the state is 18 years of age. A minimum age of 18 years of age shall be required to obtain a loan from this Credit Union. It is the intention in the Loan Policy to allow members over 18 years of age to borrow on their own merit if they qualify.

TYPES OF LOANS OFFERED THROUGH THE CREDIT UNION

A. Non-Collateralized Consumer Loans: These loans may be secured by collateral securing other loans with the Credit Union:

1. Co-Maker Loan
2. Personal Loan
3. Department Approved Departmental Education Loan
4. Line of Credit (Overdraft Protection)
5. Credit Cards

1. Share Loans
2. Vehicle Loans (new and used)
3. Motorcycles/ATV's/4-Wheelers (new and used)
4. Boats (new and used)
5. Mobile Homes/RV's/Travel Trailers (new and used)
6. Farm Equipment Loans
7. Open Ended Line of Credit Home Equity Loans
8. All other types of collateralized loans

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1. Non-Collateralized Consumer Loans: These loans may be secured by collateral securing other loans with the Credit Union:

a. CO-MAKER LOAN - Any loan cross collaterized and secured by the signature of members. Each co-maker's signature shall secure the loan in an amount not to exceed $1,600. Please contact the credit union for details.

b. PERSONAL LOAN - A member of less than 6 months may obtain a personal loan in an amount not to exceed $1,000. A member of more than 6 months and in good standing is eligible for a personal loan in an amount not to exceed $1,600. Any personal loan, which shall not exceed a maximum of $3500, may require the appropriate credit investigation, including but not limited to Credit Bureau reports. A member shall not have a co-maker loan and a personal loan simultaneously.

c. DEPARTMENTAL EDUCATION LOAN - An additional loan secured by a member's signature and cross collateralized by other collateral security in other loans to enable the member to attend Departmental ordered training or schooling out of the city.

d. LINE OF CREDIT (Overdraft Protection) - A Credit Union member in good standing, upon application, may be approved by the loan officer with a line of credit of up to $500.00 for overdraft protection of their share draft account(s).

e. SHARE LOANS - A loan in an amount secured by shares in the member's account. A member's share account must maintain a minimum balance not less than the share secured loan balance.

f. HOME EQUITY LINE OF CREDIT - An open-end revolving loan in which the Loan to value ratio is up to 80% less any prior liens. Flexible terms are available. Call the credit union for further details or see our rate page.