|WE MAKE LOANS|
We offer a variety of loans with competitive rates and terms on both secured and unsecured loans. Whether it's a new or used vehicle, recreational vehicle, boat, loan consolidation, home repair or other reasons, please consider us for your financing needs.|
Life Insurance up to $5,000 is included at no additional cost to those who qualify, paying up to the amount of the outstanding balance in the event of death (some restrictions apply). For joint loans made to husband and wife, the term Insured Member means both husband and wife named in the Certificate of Insurance issued to Shelter Credit Union.
Click here for current loan rates and terms.
Click on our handy Loan Calculator to enter the amount and interest rate of a loan, compute monthly payments, and display an amortization table.
NEW CARS AND TRUCKS - The Credit Union may finance up to 85% of the sticker price with terms up to 60 months.
USED CARS AND TRUCKS – The Credit Union will consider financing up to 100% of the Clean NADA Trade-in value at the published loan rate. The Credit Committee may approve a larger amount.
NEW RV’s, Boats, Motorcycles and ATV’s - The Credit Union may finance up to 85% of the verified sales price with terms up to 60 months (48 for ATV’s).
USED RV’s, Boats, Motorcycles and ATV’s – The Credit Union will consider financing up to 85% of the verified sales price or 100% of NADA Low Retail with terms up to 48 months at the published loan rate. The Credit Committee may approve a larger amount.
For on-line new and used vehicle pricing information, check out the NADAguides.com* website.
UNSECURED LOANS - We offer two types of unsecured loans.
1. CLOSED END SIGNATURE LOAN: This is a non-collateral loan requiring only your signature and good credit. The loan is set up for a specified term with a fixed rate. The maximum loan amount is $1,000 per year of employment with a $10,000 maximum. NOTE: available only after one year of service with the Shelter Insurance Companies.
2. OPEN LINE OF CREDIT FOR OVERDRAFT PROTECTION: This is a pre-approved loan available only if you have a share draft account. If you should overdraw your checking account, funds will be transferred from this type loan to your share draft account to cover checks presented for payment. This is a variable rate loan with rates subject to change at the discretion of the Board of Directors. Maximum amount available is $1,000.
The maximum unsecured amount available to any member is a total of $10,000 in the aggregate.
All loans require that a loan application be completed and submitted to the Credit Committee for consideration.
Click here for a handy on-line loan calculator.
*Shelter Insurance Federal Credit Union is not responsible for the privacy, security, or information practices of non-Shelter sites linked to our web site - including the accuracy, reliability, or suitability of their information. We urge you to review the privacy policies of each of the linked web sites you visit before providing them with any personal information.