Overview of Loans

Your Credit Union offers several types of loans to members. The rates are competitive and all loans are computed using simple interest, which ensures no pre-payment penalty. The service is quick and efficient with approvals normally within 24 hours.  Payroll deduction provides an easy, convenient method of repayment.  All loans are subject credit approval.

**There is a $20.00 application fee for each applicant on all loan requests.** 

Click Here for Online Loan Application

ECU Loan Call Center is Open 24/7.  After normal business hours, please call 877.665.6267 to apply right over the phone.

New & Used Cars, Trucks, Vans

• Flexible repayment terms based on year of auto and loan amount.
• Bi-weekly payments with Brooks/Eckerd and CVS payroll or share draft automatic deduction offered.
• 100% financing available.
• Pre-approvals – bargain as if you had cash!
• Kelly Blue Book & NADA retail, trade-in, and loan values available for new and used vehicles.
• Competitive premiums on GAP (Guaranteed Asset Protection) and MRC (Mechanical Repair Coverage).
• Payment Protection-Have the security of your loan payments being made in the case of disability or death.
• Auto Advisors - Make your next auto buying experience stress free.

Tax Saver Loans

• Members who own their homes may have the opportunity to "write off" interest on their car loans by applying for our "Tax Saver Loan". Rates and terms of this loan are the same as our car loans.
• If you use the long form for tax purposes, you may be eligible to take deductions similar to those offered by a home equity loan; a lien would be recorded on both the auto and primary residence.
• The new loan, when combined with any existing home mortgages, can not exceed 100% of the property value of the home.
• We advise members to consult a tax adviser to determine allowable deductions.  
• To apply for the "Tax Saver Loan" simply complete our regular loan application, indicate “Tax Saver” in the purpose line, and submit to the loan department.  A loan representative will contact you for further information.   (Not available in all States.)

Boat & Recreational Vehicle Loans

• Repayment terms up to 10 years based on the year of the vehicle and the loan amount.
• The percent of purchase order available for financing depends on the year of the vehicle or boat.
• Pre-approvals - bargain as if you had cash!
• NADA retail, trade-in and loan values available.
• NADA guides used to determine loan value for used vehicles or boats.
• GAP Protection-Protect yourself from having to pay thousands of dollars for the loss of collateral due to theft or accident.
• MRC (Mechanical Repair Coverage)-Protect yourself with an extended warranty from your Credit Union.
• Payment Protection-Have the security of your loan payments being made in the case of disability or death.

Signature Loans

• Borrow up to $300.00 after 90 days of employment.
• Borrow up to 10% of your gross salary after 1 year of employment (Limit $10,000).
• Repayment terms up to 3 years.
• Payment Protection-Have the security of your loan payments being made in the case of disability or death.

Special Seasonal Loans

• IRA or Tax loans - 2/1 thru 4/30 
  Use the proceeds to pay taxes or to make a contribution to your IRA.
• Christmas -10/1 thru 1/31 
  Use the proceeds to pay for you holiday expenses.
• Vacation - year round
  Use the proceeds to pay for your well deserved vacation.
• Computer - year round
  Use the proceeds to purchase a computer

Share Savings or Certificates of Deposit Secured

• Use your Credit Union share / savings account as collateral for a reduced rate.
• Use certificates of deposit with us or another financial institution as collateral.
• Repayment terms up to 3 years.