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Tigers Credit Union Lending
Department
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The Tigers Credit Union offers loan services for the
purchase of new and used cars, motorcycles, homes, personal computers,
tuition, electronic equipment, debt consolidation, businesses, and any
other reason
you may need some extra money!
Our motto “students serving students” is the backbone
of our helpful service to members. As a student organization, our
mission is to provide you with the best possible financial services.
Our interest rates are compared periodically with other
financial institutions to ensure competitive rates.
(Click
the yellow button to start the application)
How to Qualify
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You must be a member of the Tigers Credit
Union.
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You must be at least 18 years of age.
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You must complete a loan application.
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You must be securely employed or have sufficient
income make
monthly payments. The loan policy minimum monthly disposable income
must be at least $250.00.
-
You must have debt/income ratio of less than 40%
(your total monthly debt payments or expenses divided by your monthly
income).
Types of Loans
-- Secured Loans --
- New cars
- Used cars
- Mortgages
- New and used
motorcycles
- Computers
(max. $15,000.00)
- Share Secured:
up to the maximum of your share account
- RVs, Business
Loans, etc
--Unsecured Loans--
- Maximum of
$15,000.00
- Granted to
members with an exceptional ability to pay or members
who are trying to build a credit history.
Loan Rates
-- New Cars:
-- Used Cars:
|
Automobile
Loan Rates (as low as...)
|
| Duration |
36 mo. |
48 mo. |
60 mo. |
| New |
4.89
% |
4.94
% |
4.99
% |
| Used |
4.89
% |
4.94
% |
4.99
% |
(For cars older than 7 years the loan rate is the same as the
signature loan rate)
-- Computer Loan Rates: 100% of purchase price
-- Spring Break/Christmas Loan Rates / Signature Loan Rates / Debt
Consolidation Loan Rates:
| Computer
Loans: |
9.90
%, up
to 36 mo. |
| Personal
Loans: |
9.90
%, up to $15,000 for 36 mo. |
Your Responsibilities
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All lines of the loan application must be fully
completed. If you have any question, please come into the Credit Union
and a loan committee member will be happy to assist you.
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To help us determine how much credit is
appropriate for you, please bring your two most recent pay stubs or the
prior year’s W-2 form.
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If your monthly income is irregular, a cosigner
is recommended for loan approval.
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We do accept monthly income from parents as a
source of income. In order to complete loan processing, your parents
must also complete an application and title it “cosigner.”
-
If you need a loan that is more than the maximum
unsecured amount, you must provide some form of valuable asset in order
to secure payment on the loan. We accept used cars (no older than seven
years), new cars, computers, stereo equipment, bicycles, and savings
account balances.
Default Risk
When you take out a loan, you are making a commitment
to repay the money given to you. If you do not follow this agreement,
you may fall into default. This means you have failed to keep your end
of a legally binding contract. Your failure to meet loan payments will
be reported to a national credit bureau that will record your default
on your credit report. A default on your credit report can hurt your
future credit for up to seven years.
In an effort to
provide our members with valuable services we offer a wide range of
loans including new and used auto loans, computer loans, misc.
collateralized loans, debt consolidation loans, and signature loans for
vacations or other short term needs.
For more
information on credit analysis procedures, or questions on how to best
establish your credit history, please feel free to contact a member of
the Tigers Credit Union loan department.
Get a loan application
Go to the Kelly Blue Book site
(click on our logo to go to the main page
from any other)
