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New Lending Program
at NETFCU
As a member-owned financial institution, NET FCU is constantly looking
for ways to provide the highest quality service. We want to make
quality deposit and loan products readily available to all our members.
Consistent with this goal, your credit union is implementing a new loan
program in November. The new program will make loans
more available to all members and provide interest rates that are
competitive in this market.
The new loan program, called risk-based lending, is widely used at
credit unions across the country. It has allowed credit unions to
make credit available to a wider section of members while protecting the
financial stability of the credit union, It incorporates key
indicators into a simple process to determine the risk of a loan and
calculate an interest rate that allows for the risk.
All loan officers and loan support staff are receiving extensive
training in this new lending process. If you have been thinking of
applying for a loan, now would be a great time to come in and see how
this innovative program works. Visit with our staff about your
goals and see how we can tailor a loan to meet your needs. Please
note, starting January 1, 2008, NET FCU will be charging a late fee of
$10 on your loan payment if your payment is 30 days or more late. |
