Our Loan Services
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Considering a loan or want to refinance your existing loan from an outside financial institution? We offer competitive rates, along with quick approvals, so call us when you need to borrow. Our loan department will help you choose the best solution for all your borrowing needs. Increase your purchasing power with our competitive rates and flexible repay. All loan rates are subject to risk-based pricing. Fees may change without notice.
Performance Based Lending allows Select Community Federal Credit Union to reward the members who value their credit history with a very attractive loan rate. The member's credit history will determine the rate the member will qualify for and receive. The offered rate is decided solely by credit history, which is determined by a third party's evaluation of the applicant's credit history.
You can also purchase credit disability insurance on your loan. This is an extra protection plan that can enable the member to pay off their loan or reduce their loan payment in case of illness or disability. The cost is $1.76 per $1000 borrowed and is added to the loan each month. Life insurance is also available for a small fee.
Timesaver Lending is a new service now available at Select Community Federal Credit Union! Just stop in to fill out a one-time application and sign up for the Timesaver Lending Plan, and you'll never have to fill out another application! Future loans can be done over the phone.
We offer many kinds of loans...
Secured Loans
New and Used Vehicle Loans
The credit union offers 100% financing up to the N.A.D.A.
Book Value of the vehicle. Financing includes tax, title and extended warranties.
Terms up to 72 months are available for new vehicles, and terms up to 60
months are available for used vehicles. Gap insurance is available on most
vehicles.
New and Used Recreational Vehicle Loans
The credit union offers 100% financing up to the N.A.D.A.
Book Value on new and used recreational vehicles that can include motorcycles,
boats, snowmobiles and watercrafts. Simply put, if it has an engine and
moves, your credit union will attempt to finance it. Financing includes
tax, title and extended warranties. Gap insurance is available on most vehicles.
Share Pledge Loans
A share pledge loan lets you borrow against funds you
already have in your credit union savings account. The share pledge loan
is usually our lowest interest loan. Many members use this type of loan
for either building their credit history or re-establishing their credit.
Personal Loans
Closed-end Personal Loans
A closed-end personal loan is an unsecured loan with
a definite term. One popular usage of this type of loan is for consolidating
those high interest credit card payments into one simple payment at a reduced
rate. At our credit union, a personal loan can be granted for whatever reason
the member gives. The maximum amount available for a personal loan is $20,000.
VISA Cards
With
a low rate and no annual fee. Also verified
by VISA (not part of the Select Community
website) is available to protect your online purchases.
Contact us for an application.
Home
Equity Loans
Home equity loans are closed-end loans with a loan value
of up to 90% of the equity in your home. Contact
us for an application.
Mortgages
Now you can apply for a mortgage loan online through
CU Mortgage Service.
Apply today!
Want to apply for a loan?
Come see us today! We will normally have your answer within one business
day, and in many cases, within an hour. Or, if you prefer, call the Credit
Union and apply for your loan by phone at 219-465-5047.
Application for Mortgage Loans >
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