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Loan Types
Share Secured : Pay yourself first by borrowing from your savings! You may borrow all but $100 (excluding draft accounts and IRA accounts.) The term is up to you as long as it is within the federal, state and credit union standards along with the loan officers judgment.

Certificate Secured : Your credit union allows you to borrow against your certificate (excluding IRA Certificate) instead of paying a penalty for early withdrawal. You may borrow 100% of the certificate and you set the repayment term (within set standards).

Personal Loan : This loan is made for those with less than perfect credit , but someone we are willing to take a chance on.

Line of Credit : An open ended line of credit issued to you and based on your specific qualifications. Length of time on the job, income, credit history, etc all are reviewed and add to your limit. You may then take as little or as much of the line as you need. You only pay interest on the outstanding balance and may add to the loan over a period of time. Maximum $10,000 to qualified. Repayment is 3% of outstanding balance or $25, whichever is greater.

New Auto and RV : New cars, trucks and recreational vehicles are those that have not been licensed or has been licensed for 6 months or less or in some cases has fewer than 15,000 original miles. Generally, a minimum of 10% down payment, however, your credit union is flexible and can often waive the down payment requirement.

Other RVís : ATVís, Dune Buggies, motorcycles and snowmobiles are considered on a case-by-case basis with the minimum acceptable standards for an Easy-Line-of-Credit.

Used Auto/Truck: Maximum loan amount determined by average bluebook and your credit. Term determined by age of vehicle.

Classic Auto: Got an itch for a classic vehicle - your credit union can help. Borrow up to 80% of the appraised value up to 36 months.


TM & © 2000, 2001, 2002, 2003 & 2004 -- Oregon Independent Federal Credit Union.