Welcome Credit Union is an "Equal Opportunity Lender", making loans without regard to race, color, religion, sex, national origin, marital status, or age.

• How to Apply for a Loan

• Types of Loans Available

• Car Loans

• Certificate Secured Loans

• HUD Title 1 Home Improvement Loans

• PC Equipment Loans

• Personal Loans

• PLUS Educational Loans for Parents

• Real Estate Loans

• Share Secured Loans

• Vehicle Loans

You can apply for a loan as soon as you join Welcome Credit Union. Applicants must meet the Credit Union's criteria for credit worthiness (i.e., good current and past credit history, satisfactory debt ratio, good employment status, etc.).

If you are interested in more information about our loan programs or want to apply for a loan with Welcome Credit Union, we invite you to call or visit any of our Credit Union branches. You can also follow the loan steps and guidelines on this website.

If you have questions regarding our loan programs, please call one of our loan experts:

Line-of-Credit Loans

• Credit limit = $1,000.00 up to $10,000.00, based on credit worthiness and 10% of gross annual salary not including overtime, bonuses, etc.

Overdraft Line-of-Credit Loans

• Available protection on your "Credit Union Checking" account

• Protect yourself by avoiding check returns and non-sufficient funds fees

• Credit limit = $10,000.00

• Repayment = Up to 36 months

• Payment is automatically deducted from your checking account.
  

Holiday Line-of-Credit Loans

• Credit limit between $1,000.00 and $2,500.00, depending on credit worthiness

• Minimum loan amount = $250.00

• Advances can be made between October 1 and January 31 of each year.
  

Summer Vacation Line-of-Credit Loans

• Credit limit between $1,000.00 and $2,500.00, depending on credit worthiness

• Minimum loan amount = $250.00

• Advances can be made between May 1 and August 31 of each year.
  

Debt Consolidation Loans

• Amount = Up to $10,000.00 per member

• Paid-in-full receipts are required for all debts consolidated.
  

Tax Relief Line of Credit Loans

• To assist you when you are required to pay taxes

• Amount = Up to $10,000.00 per member

• A copy of tax return form or tax invoice/bill is required prior to disbursement of loan proceeds.

• Includes taxes due to the following revenue collecting agents: Federal, State, County, or City.
  

Disaster Loans (Disaster is defined as fire, flood, tornado, hurricane, wind, water, earthquake, etc.)

• Amount = Up to $10,000.00 per member

• Documented proof of the insurance claim may be required

• Disaster loans are "interest-free" for the first 365 days.

• Minimum loan amount = $250.00
  

90-Day Notes

• If you are expecting an influx of funds within 90 days, but need the money now, we have the help you need. If your funds are coming from a verifiable source, we can loan you the money on a 90-day note.

• Maximum amount = $50,000.00 minus all other outstanding or available signature-secured balances with WCU

• Repayment = Single-payment loan due within 90 days

• A few examples of acceptable verifiable sources of income are: insurance settlement; inheritance; divorce settlement; estate settlement, etc.
  

For more information about personal loans or to obtain an application for this loan, you can either print our loan forms from this web site or call or stop by any of our branch offices.

• Amount = You can borrow any amount of shares you have on deposit in your regular Credit Union share account ($250.00 minimum) not including the $25.00 minimum balance required. The amount secured will be the amount equal to the outstanding loan balance plus interest. (As the principal loan balance is repaid, those dollars then become available to you should you want to withdraw them.)

• Share Certificates, Christmas Club Accounts, and Individual Retirement Accounts do not qualify for share loans.
  

For more information about share secured loans or to obtain an application for this loan, you can either print our loan forms from this web site or call or stop by any of our branch offices.

• If you have invested your money in a WCU Share Certificate and need the funds before the maturity date, we have a loan option for you. You can borrow up to 90% of the certificate amount and pledge your certificate as collateral.

• Repayment = Single payment loan due and payable on the same day that the certificate matures.

• The interest rate will be 2.00% above the rate of the certificate being secured.
  

For more information about certificate secured loans or to obtain an application for this loan, you can either print our loan forms from this web site or call or stop by any of our branch offices.

New Automobile, Truck, Recreational Vehicle, Boat, and Motorcycle Loans

• Amount financed is based on approved credit, individual circumstances, and the value of the vehicle as established by the vehicle's sticker price, MSRP, or Kelley Blue Book value. For additional information, call or stop by any of our branch offices.

• Repayment = Up to 84 months

• Taxes, license fees, and warranties may also be financed.

• All vehicles up to one year old will be financed as "new" (ex., all 2007 & 2008 models will be financed as new for the entire year of 2008).

• Take advantage of Anytime Advisor New Car Buying Coach.  Click here for more information.
  

Used Automobile, Truck, Recreational Vehicle, Boat, and Motorcycle Loans

• Amount financed is based on approved credit, individual circumstances, and the value of the vehicle as established by the N.A.D.A. Official Used Car Guides depending on year, model, and condition of vehicle. For additional information, call or stop by any of our branch offices.

• Repayment = Up to 84 months, depending on year, model, and condition of vehicle

• Taxes, license fees, and warranties may also be financed.

• Take advantage of Anytime Advisor Used Car Buying Coach.  Click here for more information.
  

Optional Loan for New and Used Boats and Recreational Vehicles When Loan Amount is Greater than $20,000.00

• New Amount financed is based on approved credit, individual circumstances, and the value of the vehicle as established by the vehicle's sticker price or MSRP. For additional information, call or stop by any of our branch offices.

• Used Amount financed is based on approved credit, individual circumstances, and the value of the vehicle as established by the N.A.D.A. Official Used Car Guides depending on year, model, and condition of vehicle. For additional information, call or stop by any of our branch offices.

• Repayment = Up to 120 months

• The annual percentage rate for this longer term loan will be 1/2% higher than the current new or used vehicle loan rate for a term of 84 months ( 7 years).
  

Luxury Vehicle Loans

• Luxury Vehicle loans are for loan amounts of $40,000.00 and over.

• Repayment up to 120 months.

• The annual percentage rate for this longer term loan will be 1/2% higher than the current new or used vehicle loan rate for a term of 84 months (7 years).

• Luxury vehicle status will be determined by the mileage category as stated in the N.A.D.A. Official Used Car Guide as a Class IV or Class V vehicle.  Newly marketed luxury vehicles are listed on the Kelley Blue Book web site.  

• New amount financed is based on approved credit, individual circumstances, and the value of the vehicle as established by the vehicle’s sticker price, MSRP, or Kelley Blue Book value.  For additional information, call or stop by any of our branch offices.

• Used amount financed is based on approved credit, individual circumstances, and the value of the vehicle as established by the N.A.D.A. Official Used Car Guide, depending on year, model, and condition of vehicle.  For additional information, call or stop by any of our branch offices.

• Taxes, license fees, and warranties may also be financed.

• All vehicles up to one year old will be financed as "new" (ex. all 2007 & 2008 models will be financed as new for the entire year of 2008).
   

No Credit Check Vehicle Loans

• No credit check will be performed.  However, member must meet Welcome Credit Union’s (WCU) other lending criteria, bankruptcy policies, and guidelines.

• Includes automobiles, trucks, and SUV’s.

• Amount = up to 50% of retail value as established by the vehicle’s sticker price, MSRP, Kelley Blue Book retail value, or the N.A.D.A. Official Used Car Guide and includes taxes, tags, title, and warranty packages.

• Repayment up to 48 months.

• Proof of the retail value is required.  This can include, but is not limited to:  MSRP, Kelley Blue Book, or N.A.D.A. Official Used Car Guide.

• Vehicle must be running and in at least fair condition and inspected by a representative of WCU before loan closing.  

Classic Auto Loans

• Amount financed is based on approved credit, individual circumstances, and the low retail, average retail, or high retail value as defined by the NADA Classic Cars Appraisal Guide. For additional information, call or stop by any of our branch offices.

• Repayment = Up to 84 months. If the loan amount is greater than $20,000.00, an optional repayment schedule for up to 120 months is available; however, the annual percentage rate for the longer term loan will be 1/2% higher than the current annual percentage rate for used vehicles.

• Cars considered as Classics must be listed in the NADA Classic Cars Appraisal Guide.
   

For more information about vehicle loans or to obtain an application for this loan, you can either print our loan forms from this web site or call or stop by any of our branch offices.

• Amount = Between $250.00 and $5,000.00

• Repayment = Up to 36 months

• Loans are made for the purchase of new PC equipment and any software that's bundled with the purchase.

• Member must furnish a copy of the computer invoice, bill, or a receipt for loan file.
  

For more information about computer loans or to obtain an application for this loan, you can either print our loan forms from this web site or call or stop by any of our branch offices.

• Amount = 100% of improvement up to $25,000.00

• Repayment = Up to 12 months for each $1,000.00, not to exceed 120 months

• Loan proceeds can only be used for improvements made after the loan is approved.

• The improvement must be one approved by HUD (US Department of Housing and Urban Development).

• In addition to meeting the Credit Union's criteria for credit worthiness, HUD imposes several requirements and restrictions under this program.
  

For more information about home improvement loans or to obtain an application for this loan, please or call or stop by any of our branch offices.

• PLUS loans are educational loans designed to help parents pay for a dependent student's education beyond high school.

• PLUS loans are authorized by the federal government.  PLUS loans granted on or after 7/1/06 are fixed-rate loans.  Loans granted between 7/1/98 and 6/30/06 are variable-rate loans.  The variable annual percentage rate is subject to change annually on July 1st.

• Amount = The loan amount will be determined by the Financial Aid Office at the school. The loan you receive will never exceed the cost of the student's education less any financial aid awarded for the same period of enrollment, including other Federal Family Education Loan Programs. There is no annual or aggregate limit for PLUS loans.

• Repayment = You are allowed at least 60 months, but not more than 120 months to repay the loan. Repayment begins immediately; the first payment will be scheduled 30 days after disbursement of the loan check.

• The minimum monthly payment is $50.00.

• United Student Aids Funds and the Department of Education both charge fees.  The fees will be deducted from the loan proceeds and are disclosed on the Notice of Loan Guarantee and Disclosure Statement.

• In addition to meeting the Credit Union's criteria for credit worthiness, the Department of Education imposes several requirements and restrictions under this loan program.
  

For more information about PLUS loans or obtain an application for this loan, please call or stop by any of our branch offices.

Home Equity loans, Land loans, and Mobile Home loans are restricted to real estate located within the state of North Carolina.

Residential Mortgage Loans

If you're looking for a new home or just some extra cash, we're got a custom mortgage loan made especially for you.  The best options, great rates, and someone you trust to guide you!

• Property nationwide is eligible. (Property in Puerto Rico is excluded.)

• Purchase or refinance your current mortgage loan.

• Eligible property is one to four family dwellings including condominiums, townhouses, *modular homes, and *double-wide manufactured homes. (Investment or rental property, commercial farm property, commercial property, second homes, vacation homes, and construction loans are not permitted.)  All properties must be owner-occupied, primary residence.   *Restrictions apply.

• First-time home buyer program.

• Government loans (FHA, VA).

• Fixed and Adjustable rate loans.

• Cash-out refinances.

• The Credit Union Mortgage Resource Center works only with Credit Union members and has over 25 years of experience within the Credit Union community.

• You'll receive the Credit Union standard of professional, friendly, and courteous service.

• For more information, call the Mortgage Resource Center toll-free at 1-866-356-7449
  or visit the web-site at welcome.mtgresourcecenter.com.

• Take advantage of Anytime Advisor Home Buying Coach.  Click here for more information.

Land Loans

• Amount = Up to 90% of the actual selling price or up to 90% of the appraised value, whichever is less

• Repayment = Up to 12 months for each $1,000.00 or more, not to exceed 180 months

• Land financed is restricted to undeveloped, single-family dwelling, residential building lots.

• You can use this loan either to purchase land or use land you already own as collateral for a loan.
  

Home Equity Loans

We offer a beneficial, competitive home equity loan program for members. If you are interested in this loan program, please call your nearest Welcome Credit Union branch office for detailed information.

Mobile Home Loans

Mobile home loans will be limited to first lien, owner occupied, new and used mobile homes. Mobile homes must be used as the borrower's primary residence or second home (vacation home). Mobile homes used as rental property cannot be financed. Mobile homes permanently attached to real estate will be considered real property and financing will be handled through the Mortgage Resource Center. For more information, call the Mortgage Resource Center at 1-866-356-7449 or visit the web-site at welcome.mtgresourcecenter.com

New Mobile Home Loans

• Amount = Up to 100% of the purchase price

• Repayment = Up to 12 months for each $1,000.00 or more, not to exceed 120 months

• All mobile homes up to one year old will be financed as "new" (ex., all 2007 & 2008 models will be financed as new for the entire year of 2008).
  

Used Mobile Home Loans

• Amount = Normally, up to 100% of the wholesale value as established by the N.A.D.A. Manufactured Housing Appraisal Guide

• Repayment = Up to 12 months for each $1,000.00 or more, not to exceed 120 months

• To ascertain the value and condition of a used mobile home, an appraisal or a "condition report" is required.

For more information about real estate loans or to obtain an application for these loans, please call or stop by any of our branch offices.