Christmas Loans For A Merry Christmas
Credit Union Day Lecture
- Vendor's letter (letter indicating intent to sell) if loan is to purchase vehicle
- Valuation Report
- Pro forma Invoice which must bear chassis and engine numbers.
- Open Bill from an Insurance company to comprehensively insure the vehicle and assign to the Credit Union
- You will be instructed to sign a Bill of Sale with a reputable lawyer. This gives the Credit Union authority to register a lien against your motor vehicle.
- NB. The value of the security (motor vehicle) will be prorated as follows:
Age of the Vehicle % of Value Repayment Period
New Vehicle 95% 7-8 years
1-4 years 65% 5-6 years
5-6 years 55% 3-4 years
The Society will accept a Bill of Sale on household items that are uniquely identifiable by a serial number.Acceptable items include but are not limited to refrigerators, stoves, televisions, washing machines and sewing machines that are not more than three (3) years old. All items over one year old must be revalued. All items must be insured. The Society reserves the right to visit member to view items.