Loans

Loans are available to all Credit Union members in good standing.
All applications for loans are individually reviewed by the Loan Committee.  Average time for approval is 24 hours except for secured loans which may be obtained on the same day.  First time borrowers are eligible to receive a 1% discount on a personal loan.

Personal Loans

• $20,000.00 maximum  - up to 5 years
  

Secured Loans

• Up to value of shares in Credit Union

New Car Loans

• Borrow 95% of sticker price up to 6 years

Used Car Loans

• Borrow  95% of book value, 1 - 6 years

Open-End

• Maximum $20,000.00 up to 3 years

Home Improvement

• Borrow 80% assessed value up to 15 years

1st & 2nd Mortgage Loans

• Borrow 80% assessed value up to 20 years
• Borrow up to $150,000.00

Recreational Vehicle Loans

• Borrow 90% assessed value

 

 

           

           
Copyright © 2001 Morton Federal Credit Union
Last modified: November 30, 04