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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.
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