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We realize you can go almost anywhere and get a loan these days. The crucial thing is what that loan costs - and that's where we come in!
In most cases, Heritage South Community Credit Union can save you money because the interest due on the unpaid balance of your loan is accrued on a daily basis, not added to the starting amount of your loan. Furthermore, our friendly loan staff is willing to go the extra mile to accommodate your needs and make sure your loan process runs smoothly from start to finish.
About Our Loans
Payments
Heritage South Community Credit Union has several methods available to make it easier for you to make your loan payment. These payment options include transactions at any of our offices, through the mail, online, or by having the payment transferred directly from your share or share draft account. Another option - perhaps the easiest - is payroll deduction, where your payment is taken directly from your payroll check.
Applications
You can apply for a loan online, at any of our offices, over the telephone, or through the mail. Loan applications can normally be approved by one of our loan officers and disbursement made the same day. Heritage South Community Credit Union retains the right to refuse a loan at any time, depending on extenuating circumstances.
Rates
Our rates are based upon loan-to-value ratio and credit score. Other variables concerning each individual type of loan may also factor into our rates.
Insurance
Heritage South Community Credit Union offers optional member pay insurance at group rates to protect you and your family in the event of death or disability. The premiums on this insurance are affordable and are calculated on your unpaid loan balance at the end of each month.
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Heritage South Community Credit Union has long been considered a leader in providing automobile and recreational vehicle loans that meet our members' needs. Whether you are in the market for a car or truck, or if your interests include a boat or some other recreational vehicle, Heritage South can put you in whatever you want with fewer hassles and more money in your pocket.
Terms vary on our vehicle loans, depending on whether the vehicle is new or used. New vehicles can be financed for up to 72 months and at 100% of the purchase price. Used vehicles may only be financed to 60 months and at 100% of the NADA or sales value. Financing includes taxes and tags and there are no nagging penalties for early payment. Pre-approval may be available. Contact one of our loan officers for details.
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Are you planning on purchasing a vehicle for your teen? If so, consider our Teen Auto Loan Program. It is a great way to help them develop credit history, and you can be involved, too. The teen’s name would appear on the loan and you as a co-signer. Their credit history would develop with timely payment and be reflected in their credit score. This could be beneficial whenever they need to apply for their next car loan or credit card or even a mortgage. Contact a lender today to learn more about the Teen Auto Loan Program.
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Heritage South Community Credit Union has gone the extra mile to offer our members a variety of both in-house and secondary market loan programs.
Our in-house mortgage loans are second to none. With fixed or adjustable rates available for up to 30 years, we can help you borrow up to 100% of the appraised value or the purchase price of the home, whichever is lower. See one of our loan officers for current market rates.
A secondary market mortgage loan is much like a first mortgage, with a couple of exceptions. Fixed and adjustable rates are still available, but with a maximum term of 20 years. Second mortgages allow you to borrow up to 95% of the appraised value or the purchase price of the home, whichever is lower.
Pre-approval may be available. Contact one of our loan officers for details.
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These loans are made available solely on the strength of your individual credit-worthiness, with your signature as collateral. Rates on these loans will vary, but terms can run up to 36 months.
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Heritage South Community Credit Union offers this loan for you to use as a personal loan reserve for anything and at any time. Once you apply, you are pre-approved for a certain limit, up to which you may borrow as much as you like. This loan is popular with our members because funds can be obtained quickly and the process is simple.
Home Equity Line of Credit
Our home equity line-of-credit loans are secured by the equity in your home. With approved credit, you may be able to borrow up to 100% of the loan-to-value ratio on your home’s equity, then spend the money whenever a need comes up. In some instances, rates may be as low as prime.
The interest on all mortgage loans may be tax deductible. We suggest that our members contact their tax advisor to discuss this possibility.
All Other Secured Loan (New)
These loans can be used for purchase-only on new items such as motorcycles, watercraft, lawn and garden equipment, computers and electronic equipment, jewelry, and a wide variety of other items. Heritage South can finance up to 100% of the sales price on the purchase of new items, with terms up to 72 months. Five-year balloon payments are available for loan amounts over $20,000. Credit approval is required. Pre-approval may be available. Contact one of our loan officers for details.
All Other Secured Loan (Used)
These loans can be utilized for purchase-only on used items such as motorcycles, watercraft, lawn and garden equipment, computers and electronic equipment, jewelry, and a wide variety of other items. Heritage South can finance up to 100% of the retail value on the purchase of used items, with terms up to 60 months. Five-year balloon payments are available for loan amounts over $20,000. Credit approval is required. Pre-approval may be available. Contact one of our loan officers for details.
Share Secured Loan/Share Certificate Secured Loan
Use deposits in your credit union share account or share certificates as collateral for a loan and only pay 2% above the rate currently being earned for those deposits. Terms for these loans are flexible. Credit approval is required.
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Members can use stock certificates as collateral on loans to be utilized for a wide variety of purposes. With our stock loan, you can borrow up to 70% of the published market value of your stock. The maximum amount of this loan is $50,000 with terms up to 72 months. Credit approval is required.
Overdraft Protection Line of Credit
You can protect yourself from the embarrassment and cost of an overdraft by signing up for overdraft protection. Lines of credit available for up to $500 with approved credit.
Heritage South Community Credit Union may be able to refinance your current loan with another financial institution for a lower rate or more convenient terms. Contact one of our loan officers for details.
