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REGIONAL has several choices available for the members in order
to make applying for a loan simple, quick and easy. We offer a 24-hour, 7 days-a-week
Phone Loan Center and a wide variety of loan options to meet your different needs.
Besides offering very competitive rates, we also have experienced and knowledgeable
loan officers to answer your questions. Following are more details about our lending
programs, rates and services.
Performance Based Lending
Performance Based Lending allows REGIONAL to reward the members
who value their credit history with a very attractive loan rate. The member's credit
history will determine the rate the member will qualify for and receive. The offered
rate is decided solely by credit history which is determined by a third party's
evaluation of the applicant's credit history.
Budget and Financial Counseling
Managing your finances, instead of having your finances managing you is easier said
than done. Our loan department offers Budget and Financial Counseling for those
members that need to repair or re-establish their credit history. Our loan officers
can help members set goals in order to get out from under a heavy burden of debt, or
simply offer tips on how to avoid plastic overload and the debt associated with it.
Credit Life or Disability Insurance
An option that is always available on any loan product at the credit union is Credit Life
or Disability Insurance. Both types of insurance are an extra protection plan that can
enable the member to pay off their loan or reduce the loan payment in case of death,
illness or disability due to an accident.
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New And Used Vehicle Loans
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The credit union offers 100% financing up to the N.A.D.A. Book Value
of the vehicle. Financing includes tax, title and extended warranties.
Terms up to 72 months are available for new vehicles, and terms up to
66 months are available for used vehicles.
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Auto Equity Loans
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The credit union offers an auto equity fixed rate loan, secured by the
collateral of the vehicle being financed and your home. Because your
home is used as collateral, your finance charges may be tax deductable.
Advantages of the auto equity loan are:
- Finance new or used vehicles
- Refinance higher rate vehicles held by another lender
- Possible tax deduction
- Low rates and convenient financing terms
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New And Used Recreational Vehicle Loans
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The credit union offers 95% financing of the N.A.D.A. Book Value
on new recreational vehicles and 90% financing of the N.A.D.A.
Book Value on used recreational vehicles. This includes motorcycles,
boats, snowmobiles and watercrafts. Simply put, if it has an engine
and moves our credit union will attempt to finance it. Financing
includes tax, title and extended warranties.
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Personal Loans
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At our credit union a personal loan is a type of unsecured loan that
we make available for our members. One popular usage of this type of
loan is for consolidating those high interest credit card payments
into one simple payment at a reduced rate. At our credit union, a
signature loan can be granted for whatever reason the member gives,
because we fund fun. The maximum amount available for a signature
loan is $10,000.
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Open-End Loans
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An open-end loan is simply a revolving line of credit that offers up
to $10,000 per member. An open-end loan can be activated with as little
as a $100 request, and can be increased up to the $10,000 limit with a
simple phone call to the credit union.
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Share Pledge Loans
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A share pledge loan is when you borrow against funds you already have in your
Share 1 Account or your Share 5 Account (Daily Cash Account). The share pledge
loan is usually our lowest interest loan. Many members use this type of loan for
either building their credit history or re-establishing their credit.
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Students Loans
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To make it easier to meet the expense of private, secondary, vocational school
or college, REGIONAL can help you find an educational loan
program that meets your need. REGIONAL is one of only 13 certified SallieMae education
lenders in the state of Indiana. The credit union has student loan applications
for SallieMae, or
apply online by clicking here.
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Overdraft Protection Loan
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Members can apply for an overdraft protection loan during anytime of the year.
The overdraft protection loan is an unsecured line of credit with pre-approved
limit. An overdraft protection loan is a line of credit for the member with a
REGIONAL checking account. The maximum credit line is $1,500 regardless is
issued single or joint. The terms of repayment are $3.00 per hundred. The
overdraft protection loan will be offered at an interest rate of 16.9%. All
interest rates are subject to change.
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