Signature Line of Credit
The Credit Committee sets a loan limit according to the member's credit history, current income, outstanding debts, and ability to repay. After this limit is approved, the member may make periodic draws against this credit line without making additional applications or waiting for further approvals as long as the member maintains his credit worthiness. The outstanding balance may not exceed the pre-approved limit. The Credit Committee shall review and update all applications at least once every 24 months or sooner if they feel it necessary. The member is obligated to notify the Committee if there are any major changes in the information recorded on the original application.
- Limits range from $250 - $5,000 depending on the above mentioned criteria.
- All advances shall be a minimum of $100.
- No unsecured loan shall have a maturity exceeding 36 months.