Loan Services
Eligibility - Scott Schools Credit Union Members who are active employees within the field of membership are elibible to apply for loans.
See what your payments will be by using our handy calculators:
Check Out our Current Rates Click:
Want to apply for a loan with us? Click:
Types of Loans:
Unsecured- Signature loans (no collateral) are available to those who qualify. When you need to borrow, your credit union should be your first stop.
Secured - New and used vehicles are used as collateral.
Share Secured - Rather than lower your shares (savings), borrow at a low rate against your shares (savings).
New Car - Car loans with varying repayment terms and downpayment requirements are available.
Used Car - Car loans with varying repayment terms and downpayment requirements are available.
Certificate Secured - Use your certificate as collateral and borrow at 4.00% above the certificate rate.
Home Equity Line of Credit - 90% of assessed value, 85% of appraised value. Borrow using your house as collateral for any of your borrowing needs.
PAL - Payday Alternative Loans.
Balloon Loans - Vehicles over $30,000.00.
Open end lending - faster processing of loans, less signatures required.
Member Business Loans - loans for purchasing business supplies and equipment.
*NEW to Scott Schools Credit Union:
Private Student Loan Programs - Pursuing a college education is a great investment in your future! For more information: Click Here
Lending Policies - Approval Procedures
It is possible to obtain a loan the same day you apply.
There is no penalty for early payment (in full or part) of any Scott Schools Credit Union loan.
Loans are approved daily.
The credit union has available life and disability insurances on all loans
Members applyting by mail will experience some delay due to obtaining required signatures and processing by mail.
Some re-payment options:
Periodic Payment - Have your loan payments taken out of your share (savings) or share draft (checking) account. This can be done monthly, semi-monthly, bi-weekly, or weekly.
Payroll Deduction - Most loans are serviced by convenient payroll deduction payments. members find this an efficient and painless method of making their loan payments.
Rates are subject to change*
* In an attempt to always pay higher dividents and charge a lower loan rate, our rates are always reviewed weekly and possibly adjusted onthe third Thursday of each month. Always call us first when you are looking for financial assistance.
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Phone: 563-322-2680 Toll Free: 1-866-625-5524
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