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Loan Services

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Loan Services

FCUCU cares about its members and their ability to have the financial resources they need in order to live their life to the fullest which is why we offer loans to fit specific reasons, seasons and needs.  We offer a myriad of different loans so that members can find the right one for them.

  • Member Loans – The loans designed to fit your specific needs and circumstances.  FCUCU offers a broad range of personal loans including:
    • Share Secured Loan - can offer a lower rate than other types of loans because it uses funds in a savings account — either a share account, share certificate account or money market account — as collateral for your loan.
    • Debt Consolidation Loan – Taking out one new loan to pay off other loans and liabilities, generally unsecured ones, typically to get a lower interest rate, lower monthly payment, or both.
    • Vacation Loan – An unsecured personal loan you use for travel and repay in fixed monthly installments over a period of time
    • Revolving/Open End Loan - form of credit provides you with the ability to draw down or withdraw, repay, and withdraw again. The interest rate on a revolving loan facility is typically that of a variable line of credit, rather than a fixed rate
    • Signature Loan – type of personal loan that only requires your signature and a promise to pay as collateral
    • Home Equity/Home Improvement Loan – A consumer loan that is secured by a second mortgage, allowing you to borrow against the equity in your home

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  • Auto and Motorcycle Vehicle Loans
    • New & Used Auto Loans - Whether you are buying or refinancing a vehicle, FCUCU has the loan rates, terms and vehicile protection products to make your new vehicle dreams a reality.
      • Current year and 2 year old vehicles get our new vehicle loan rates
      • Vehicles up to 4 years old needing a loan amount of $25,000.00 and more get terms up to 84 months
      • In addition, you can roll the purchase of GAP Protection products into your auto loan.
  • New Used Motorcycle Loans - If you are looking to hit the road on 2 wheels, we have the motorcycle loans to get you there.
    • We make purchase and refinance loans on cycles up to 10 years old and give new loan rates on bikes up to 2 years old
    • Get up to 84 month loan terms on motorcycles up to 4 years old (with a loan amount of $25,000.00 and greater)
    • You can roll-in our Motorcycle GAP Protection Product into your loan.
  • New & Used RV Loans - If family time is what you crave more of a RV can make it happen
    • Purchase or refinance your RV with FCUCU
    • We give new loan rates on RVs up to 2 years old and finance RVs up to 10 years old.

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  • Mortgage and Real Estate Loans - Whether you are buying your first home, refinancing your mortgage, or buying a new home, FCUCU can find the right mortgage for you.
    • 1st Mortgage Loans > $50,000.00
      • We can provide you with fixed and variable rate mortgage loans with terms from 10 to 30 years using Conventional, FHA (Federal Housing Administration), and VA (Veterans Administration) loan products. With our online loan application, you will have a loan decision within minutes.
    • 1st Mortgage Loans < $50,000.00
      • We take pride in being one of the few institutions in Cuyahoga County that make 1st Mortgage Loans for < $50,000.00. We have term options from 7 to 15 years, and there are no extra fees due to the size of the loan.
    • 2nd Mortgage (Home Equity) Loans
      • Use the equity in your home to a lower fixed rate, fixed term loan for: repairs, bills, medical expenses, purchase vehicles, start a business and more. We offer terms from 5 to 15 years with lower loan fees then 1st mortgages. Plus, your 2nd Mortgage interest may qualify for a tax deduction.

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  • Student Loans – loans offered to students and parents in partnership with Sallie Mae® to be used for undergraduate or graduate expenses

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  • Business Loans – FCUCU is a SBA Guaranteed Lender and is dedicated to helping members who have small or start-up businesses.
    • The Paycheck Protection Program is a loan designed under the CARES Act to provide a direct incentive for small businesses to keep their workers on the payroll. As a SBA approved lender, FCUCU is able to assist our business members in applying for the Paycheck Protection Program
    • In addition, an Economic Injury Disaster Loan Emergency Advance is available through the SBA. This loan advance will provide up to $10,000 of economic relief to businesses that are currently experiencing temporary difficulties. Applications can be made directly through the SBA.
  • Other Business Loan Options
    • Commercial Real Estate Mortgages
    • Commercial Auto Loans
    • Equipment Loans
    • Business Lines of Credit
    • Business Mastercard® or Visa®

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  • Share Secured Business Loans
    • A Share Secured Business Loan allows businesses to turn excess cash flow into a low-rate, long-term, automatically approved loan. This fixed-rate, fixed-termed loan is fully secured with deposits in interest paying accounts at the Credit Union. Deposits held in the business’s accounts, the business owner’s personal accounts or in the accounts of angel investors can be used as loan collateral. Angel investors can pledge their deposits without being a borrower on the loan.
  • Over-Draft Line of Credit Business Loan
    • This line of credit loan is attached to your Business checking account in order to help you avoid Non-Sufficient Fund (NSF) Fees and provide emergency funds for the business. With a maximum credit limit of $2,500.00, there are no fees to have this line of credit available or transfer funds from it. Line of Credit transfers can be initiated via Online Banking.
  • Residential Real Estate Secured Loan for Business Purposes
    • This loan uses the equity in your primary residence to fund your business. We offer Cash-Out First Mortgages and 2nd Mortgages to borrow against your equity.
  • Non-Commercial Vehicle Loans < $50,000.00
    • We make business loans for non-commercial vehicles, 10 years old and newer, with loan amounts less than $50,000.00. We can help you purchase them or refinance them for a lower interest rate.
  • Loan Protection Insurance
    • Loan Protection Insurance for up to $20,000 is provided for qualifying members at no direct cost. Credit Disability Insurance is also offered in cases of disability over 14 days.
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Loan Calculator

This calculator is designed to help determine whether debt consolidation is right for you.

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