Loans available to members:
With our loans, there are no hidden costs and no pre-payment penalties. Payroll deduction and direct deposit are available for easy payments. In order to quality for a loan, members must be in good standing (minimum of $5 in a regular Share Savings Account).
Approvals are based on credit history, down payment, and whether or not payments are in line with income and financial obligations.
|
Co-maker Loans
The Co-maker loan offers the flexibility of a signature loan with more favorable rates and terms. Both the applicant and co-maker must qualify for the loan under the lending policies of the credit union.
Second Mortgages and Home Equity Lines of Credit
Let the value you have built up in your home work for you. We can offer you fixed rate loans with a payback over 3, 5 or 10 years. In addition, we now offer a variable rate line of credit loan. This loan will allow you to take advances from your loan when it is convenient for you. Loans can be up to 90% loan to value, but our best rates are at the 80% loan to value level. Our current rates are posted under the rate section of our web site. For further information, please call us at (414) 481-6220.
Line of Credit (LOC) Loans
- Kwik Cash:
This is an unsecured line of credit loan that allows you to make loan advances without reapplying for a new loan whenever you need additional funds.
- Real Estate Advance Program (REAP):
This is a secured line of credit loan that uses your house as collateral. Interest rates on REAP loans are adjustable and may change monthly. Minimum monthly payments for REAP loans are based upon the outstanding balance after the most recent advance. Payments will not be reduced upon principal reductions. REAP lines of credit may be terminated due to delinquency, default, or breach of contract. The minimum monthly payment will be 1.50% of the outstanding balance.
Master Card Credit
The Ladish Community Credit Union MasterCard offers favorable rates and a 25 day grace period for repayment of balances. Ask us for an application.
Mortgages
Ladish Community Credit Union, through Central States Mortgage Company, offers competitive mortgages for your home purchase, refinance, or new construction. Central States Mortgage provides the following benefits and options to our members:
- Free expert loan counseling
- Competitive rates
- Problem solving loan programs
- Investment property
- State and Federal V.A.
- WHEDA (as little as 3% down)
- 15 and 30 year fixed rates
- Adjustable rate mortgages
 Central States Mortgage (800) 769-9993
Shared Secured Loans:
This is an excellent way to establish a credit history. The balance in your share saving account at Ladish Community Credit Union is used to secure your loan. The available balance in your share savings will be released as you pay off the loan. The loan rate is 3.00% greater than the present shared savings rate.
Student Loans:
Step 1: Complete the FAFSA
Complete the Free Application for Federal Student Aid (FAFSA) for each academic year in which you would like to receive federal aid. The FAFSA can be obtained from your high school guidance counselor or your college financial aid office. The FAFSA is also available from the Department of Education's web site at: www.fafsa.ed.gov . FAFSAs are accepted and processed after January 1 of the year in which you plan to attend school. Be sure to indicate that you want to be considered for a student loan by answering "yes" to question 35.
Step 2: Receive your SAR
Once your FAFSA is processed, a Student Aid Report (SAR) is created. One copy is sent to you in the mail and electronic copies are sent to all the schools you listed on the FAFSA. If you filed a paper FAFSA, allow 4-6 weeks to receive your SAR. If you filed the FAFSA over the Internet, allow 2-3 weeks to receive your SAR.
Step 3: Receive your award letter
The school(s) uses data from your SAR to determine your financial aid award for the current academic year and notifies you in an award letter. If you qualify for a Stafford loan, the school either includes a Master Promissory Note (MPN) with your award letter or instructs you to get an MPN and school certification form from your lender. The school may also provide you with a preferred lender list to help you choose a lender. Even if your credit union is not listed on the preferred lender list, you still have the right to choose them as your lender. To do this, fill in your credit union’s name and lender code when you complete boxes 8 and 9 of the MPN.
FAFSA Information
Fill in the following information when you apply for student loans to make LCCU your lender!
Box 8: Ladish Community Credit Union
Box 9: 833374
Helpful Links
Vehicle Loans
If you are shopping for a new or used car, RV, van, truck, boat, or motorcycle, you can get a pre-approved loan to make dealing easier. Stop in or call and we'll help you determine your down payment, the loan amount, and the size and number of payments.We also can help you determine a fair price for new or used automobiles to help you negotiate a fair contract with the dealer.You can also go to www.kbb.com to obtain vehicle pricing information.
|
