This loan is an interim loan which members can access for emergencies such as medical and funeral expenses. The loan will be granted based on identified funds (impending FIP payments) or the ability to obtain another loan. Additional features are as follows:
• Interest rate: 25%
• Maximum loan amount: $200,000.00
• Maximum loan term: 6 months
The Income Maximizer Loan Package allows members to consolidate two (2) or more loans into one and pay less each month. Members will be able to consolidate their Education, Back to School, Vacation, Computer and Easi loans without putting up any security. The interest rate is 25% and the maximum loan amount is $300,000 for the unsecured component.
If the member wishes to use security, the maximum loan amount will be determined by the value of the security used.