Financing Available to Qualified Buyers

NCUA defines Risk Based Lending as a means by which a credit union may be able to more effectively meet the needs of all its members.  Risk Based Lending involves setting a tiered pricing structure that assigns loan rates based upon an individuals credit risk.

A credit scoring system has been developed to evaluate a loan applicant's degree of creditworthiness, with the specific intent of accomplishing the following goals:
      1)  To price loans according to risk and associated variations in collection expenses by assigning different interest rates to
            loans based on past performance and financial stability of loan applicants.
      2)  To allow a greater percentage of loan application approvals, thus generating more interest among members and       
           potential members.
      3)  To allow for an expeditious and simple loan application process for more creditworthy members.
With this credit scoring system the credit union will be able to offer extremely competitive rates to its most creditworthy members, who often shop around for the lowest rate.  Higher risk members will benefit as well by receiving loans at significantly lower interest rates than rates they would pay to sub-prime lenders, which in the past may have been their only source of loans.

Items that factor in on the credit unions loan approval are debt ratio, income, total unsecured debt, net worth, length of employment and you FICO score which is obtained from your credit bureau report.

So if you are in the market for a new/used vehicle, boat, personal loan call a loan officer today to see how we can serve you.

Pineville Office
Cheryl Ray, Loan Manager
Trudy Ong, Sr. Loan Officer
Tiffany Winget, Loan Officer

Alexandria Office
Linda Saucier, Branch Manager
Soney Ebey , Loan Officer
Andrea Roberson, Loan Officer