Loans

Loan Options:

  • The Credit Union offers loans for many purposes. When you apply for a Credit Union loan, you get fast, confidential service from a member of our staff who will help you determine the best loan option for your particular financial needs.
  • Loan applications can be made in person, by mail, fax or on the internet.
  • No penalty for early payoff.
  • All Credit Union loans are calculated using the Simple Interest Method.
  • The Credit Union offers pre-approval so you can shop with confidence knowing your loan has already been approved. Take advantage of this service.
  • New and Used Vehicle Loans.
  • New and Used Boat Loans.
  • Motorcycles and 4-Wheelers.
  • Signature Loans.
  • Share and Certificate Secured Loans.
  • The Credit Union offers payment protection with Credit Life and Disability Insurance.
  • Single credit life insurance is available to members to pay off the loan in full by CUNA Mutual Insurance Group in the event the member passes away. This eliminates putting more stress on family members after the member is deceased to collect delinquent loan payments. Call the Credit Union for Pricing.
  • Single credit disability insurance will pay the Credit Union loan payments after the member has been off work for 31 days due to disability. The insurance eliminates the worry of paying the Credit Union monthly loan payments when the member is not receiving income. Call the Credit Union for Pricing.
  • Guaranteed Asset Protection (GAP) The Credit Union offers GAP insurance on any loan secured by a vehicle, boat, motorcycle or recreational vehicle. The insurance will pay the difference between the insurance settlement and the loan balance if the collateral is declared a total loss. The insurance will also give members up to $1,000 toward a new vehicle purchase if the vehicle is financed by the Credit Union. Call the Credit Union for Pricing.
  • Extended Warranties are available through competitive pricing by CUNA Mutual Group. You can service your vehicle at any licensed mechanic. Call the Credit Union for information and pricing or read more about our Extended Warranties.
Loan Application

Closed End Home Equity Loans (Second Mortgages):

The Credit Union offers closed end home equity loans to its members with no closing costs. Other benefits include:

  • Loans from $5,000 - $100,000. Borrow up to 90% of the value of your home minus your first mortgage balance.
  • First or second mortgages only.
  • The payment is based on the term and the rate. Terms are available for 5, 10, and 15 years. Visit our rates page to learn more.
  • All payments are due by the 10th of each month.
  • Fees:
    • Late fee is 5% of the payment due (minimum late fee $20).
    • If closed within one year, settlement charges disclosed on settlement agreement.
  • Approved Counties for home equity lending are:
    • Kentucky: Breckenridge, Bullitt, Carroll, Daviess, Grayson, Hancock, Hardin, Hart, Henderson, Henry, Jefferson, Larue, Meade, Nelson, Oldham, Shelby, Spencer, Trimble
    • Indiana: Clark, Crawford, Floyd, Harrison, Jefferson, Orange, Perry, Scott, Switzerland, Washington

Home Equity Lines of Credit (Fixed and Variable Rate):

  • Home Equity lines of credit will be for $5,000 - $100,000.
  • First or second mortgages only.
  • Minimum draw/advance $250.
  • 25 FREE loan drafts.
  • Access by loan drafts or advances at the Credit Union.
  • Payment is $1.50 per $100 of the loan balance (minimum payment $50).
  • Payments are due by the 10th of each month.
  • Fees:
    • Late fee is 5% of the payment due with a minimum late fee of $20.
    • $25/year maintenance fee.
    • $20 under $250 minimum advance, third party fees ($350 - $1,000) paid on your behalf if the loan is closed within three years for variable rate loans or within one year for fixed rate loans.
  • Variable Rate
    Term -- 15 years maximum (5 year draw and maximum 10 year payback). After five years, the member has the option to refinance the loan if they meet underwriting guidelines.
  • Fixed Rate
    Term -- 7 years maximum (2 year draw and maximum 5 year payback). After two years, the member has the option to refinance the loan if they meet underwriting guidelines.
Current Rates

Land / Lot Loans:

  • Loans on land / lots available from $5,000 to 50,000.
  • The Credit Union will loan up to 80% of the appraised value of the land/lot.

Mortgage Loans:

  • The Credit Union offers mortgage loans up to $300,000.
  • Terms of 15 or 30 years.
  • The Credit Union will loan up to 80% of the appraised value of the home.

Mortgage Lending Originators:

  • Credit Union NMLS #410538
  • Patricia NMLS #410734
  • Jordan NMLS #1408627
  • Jenny NMLS #1254068
  • Amy NMLS #1623128
  • Todd NMLS #1760919
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