Loans

With a Credit Union Loan:

  • Your loan can be paid with a payroll deduction or we can bill you monthly.

  • If you are denied, you may meet with a member of the Loan Committee and/or have the Board of Directors review your application.

  • A Fully Secured Loan is a great and easy way to establish a credit history.

  • If you are having trouble making payments, we can try to work to help you.

  • Remember, if you are delinquent, we report to TRW.  This could affect your credit.

Call us or stop by.  We will try to work with you to help you through this brief difficulty.

Now at
Sisters Hospital Employees FCU

Mortgages Made Easy!

Schools. Neighborhoods.  Backyards.  As a homebuyer, you've got enough on your mind without thinking about a mortgage.  Why not have someone else handle it for you?

We can do that.  Our new mortgage products reflect our "people are worth more than money" philosophy with a process that's fast and hassle-free.  The terms are just as people-friendly:
  • Fixed and adjustable rate mortgages
  • The competitive interest rates we offer our members every single day
  • Low down payments, so you keep more of your hard-earned savings
  • Flexible terms, including lock-in and float options for the best possible rate
  • affordable closing cost programs to save you money

No matter what kind of home you're considering, we'll walk you through the process without leaving you in the dark...or pushing you too fast.  To find out more, please call us at 862-1472.
 
 

  Search certified used cars online at

CAR LOANS…..

The Credit Union is now doing risk base lending for car loans.  Your credit score will determine your rate with rates as low as 4.5%.

 Stop by today for an application, we can pre-approve your loan and you can start shopping

 

HAVE YOU EVER THOUGHT ABOUT REFINANCING

If you currently have an auto loan with another lender, stop by the office today.  We have great loan rates.  It only takes a few minutes to see if you qualify to refinance your loan with us.  You can save a lot of money in interest and take advantage of payroll deduction. 

 

Risk Based Lending

Sisters Hospital Employees FCU is now basing loan rates on an applicant's credit score.  What does this mean to you?

It means that you can apply for a loan the same easy way you always have, however, the interest rate varies based upon your credit score.  Currently, the unsecured rates range from 5.9%-17.9%.

How is my credit score determined?  Is my rate going to be affected by what the Loan Committee thinks of me?

Your credit score is determined by an outside service that does this as a part of your credit report.  They assign a credit score to you based upon your credit history.  The Loan Committee does not determine your credit store.

So is this credit score used to approve my loan?

Your loan applications approved or denied as stated in the Loan Policy.  Once your eligibility is determined, the credit score determines your interest rate.


Car Loan Rates

Car Loan Risk Categories

Percentage as of May 1, 2010

A+ PAPER
Excellent Credit
Credit Score of 730 and Above
Low Risk

A PAPER
Excellent Credit
Credit Score of 700 - 729
Low Risk

B PAPER
Good Credit
Credit Score of 650 - 699
Average Credit Risk

C PAPER
Marginal Credit
Credit Score of 600 - 649
Possible Guarantor May Be Needed

D PAPER
Below Par Credit or No Credit History
Credit Score of 599 or Less
Guarantor Usually Necessary

New

Used
4.5% APR Up To 66 Months




4.5%  APR Up To 66 Months




7.5%  APR Up To 60 Months




9.5% APR Up To 60 Months




12.5% APR Up To 60 Months		 4.5% APR Up To 66 Months



4.5% APR Up To 66 Months



8.5% APR Up To 60 Months



10.5% APR Up To 48 Months


13.5% APR Up To 48 Months

  APR=ANNUAL PERCENTAGE RATE

Credit Union Unsecured & Secured Loan Rates as of April 1, 2011
 
Maximum of $15,000.00 (based on score and percentage of income)

12 months

24 months

 36 months 48 months 60 months
A+ 730 & above 5.90% APR 6.90% APR 7.90% APR 9.90% APR 11.90% APR
Maximum of $10,000.00 (based on score and percentage of income)
A 700-729 7.90% APR 8.90% APR 9.90% APR 11.90% APR 13.90% APR
Maximum of $7,500.00
B 650-699 10.90% APR 11.90% APR 12.90% APR
C 600-649 13.90% APR 14.90% APR 15.90% APR
D 599 & Below 15.90% APR 16.90% APR 17.90% APR
Fully Secured 2.99% APR 3.99% APR 4.99% APR 5.99% APR 6.99% APR

APR= ANNUAL PERCENTAGE RATE

No car loans for under $2,000.  However, you may apply for a personal loan.  Loans for cars over 7 years old will not be considered unless the car is a classic or antique.  Sisters hospital EFCU will allow a loan for cars that are 7 years old or older, but the loan will be unsecured.  The NADA book is used as a guideline in determining the amount of loan for used cars. REMEMBER~your car loan can be pre-approved!

 

Sisters Hospital Employees FCU uses Risk Based Lending when determining the interest rate you are charged when you qualify for a loan.  Once you qualify for a loan, rates are based upon your credit score.

Sisters Hospital Employees FCU is now basing loan rates on an applicant's credit score.

Q.  What does this mean to you?

      A.  It means that you can apply for a loan the same easy way you always have, however, the interest rate varies based upon your credit score.  Currently, the unsecured rates range from 5.9% to 17.9%.

Q.  How is my credit score determined?  Is my rate going to be affected by what the Loan Committee thinks of me?

      A.  Your credit score is determined by an outside service that does this as a part of you r credit report.  They assign a credit score to you based upon your credit history.  The Loan Committee does not determine your credit score.

Q.  So is this credit score used to approve my loan?

      A.  Your loan application is approved or denied as stated in the Loan Policy.  Once your eligibility is determined, the credit score determines your interest rate.


Please click here to view loan application eligibility requirements