Loan Products
SIGNATURE LOAN: is an unsecured
loan with minimum floor levels. Maximum loan amount is $10,000.00
(amount you can borrow is based on 25% of annual income).
You must provide current pay-stubs, and/or prior year or prior
(2) years W2's. You must complete the application in full.
*If you are consolidating other debts you must submit copies
of recent statements with Creditor's Name, Account Number,
and balance due.
If REFINANCING a CECU SIGNATURE LOAN:
in "Amount of Loan" show the amount you want a check
issued for (minimum of $1,000) and indicate that you are refinancing
a present loan. (For example: Amount of Loan $1,000 plus balance
of CECU loan number (s).
HOME EQUITY LOAN: is secured by
your primary residence, based on your equity. Borrow 80% of
your equity, or buy up to 85% with .75% added to the APR.
Loans up to a maximum of $75,000.
NEW or USED AUTO LOAN: is secured
with the title to the vehicle. Submit the original invoice,
the Vehicle Identification Number from the dealer, and your
Auto Insurance information. Include the name of your Insurance
company, agent's name and telephone number, your policy number
and submit with the loan application completed in full. Title
must be issued to owner of collateral as indicated on the
loan application. CECU must appear as lienholder on the title.
If the title is issued without the lienholder's information,
you will be charged $15.00 to correct the title. (USED AUTO
LOAN - If an original invoice is not available, call the credit
union for a Used Auto Worksheet, and submit it with your loan
application). See Loan Rates for more detail.
PRE-APPROVED NEW or USED AUTO LOAN:
your loan application will be reviewed, and if approved, you
will receive a certificate showing the dollar amount you have
been pre-approved for. You then will have thirty (30) days
to shop for a vehicle. After you have decided upon the car
you want to purchase, show the certificate to the dealer and
inform them that you have already been pre-approved for the
noted dollar amount.
EDUCATION LOAN: is for the benefit
of employees who are reimbursed by Consol/Conoco/DuPont. It
cannot exceed the amount approved for refund by the Company.
A copy of your school registration form and course approval
form signed by your supervisor and personnel manager must
accompany the application. You are required to sign over your
education reimbursement check to the credit union as soon
as it is issued to you to pay off your school loan. If the
Company does not reimburse you for the tuition, you are still
liable for the loan.
SHARE SECURED/TERM SHARE SECURED LOAN:
is secured by the funds you have in your share account or
Term Share Account.
INSTRUCTIONS FOR COMPLETING THE CECU
LOAN APPLICATIONS
- WHEN COMPLETING THE LOAN APPLICATION, DO NOT LEAVE ANY
AREAS BLANK OR THE APPLICATION WILL BE RETURNED TO YOU.
- INDICATE THE NUMBER OF MONTHS YOU WANT TO TAKE TO REPAY
THE LOAN.
- COMPLETE YOUR FORMER ADDRESS INFORMATION IF YOU HAVE BEEN
AT YOUR PRESENT ADDRESS FOR LESS THAN FIVE YEARS.
- IF YOU NEED A COSIGNER, HAVE THE COSIGNER COMPLETE THE
"JOINT BORROWER/COSIGNER SECTION" AND SEND IT
IN ALONG WITH YOUR COMPLETED APPLICATION. CO-SIGNER MUST
SEND TWO (2) RECENT PAY STUBS AS PROOF OF WAGES ALONG WITH
THE APPLICATION.
- FOR A QUICK ESTIMATE ON HOW MUCH YOUR MONTHLY PAYMENT
WILL BE, PLEASE REFER TO THE "ESTIMATE MONTHLY PAYMENT"
CHART.
- ** YOUR COOPERATION WILL HELP **
· Filling out the loan application form completely.
· Attaching the required documents, as listed above,
will prevent delays in processing your loan.
· Want to know more about how your loan application
is processed... call the credit union for details.
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