You can apply for a loan in person, on the phone, or on our website.
Yes. Credit Disability and Credit Life is insurance for your loan. If you got hurt on the job and could not pay the loan, you would be covered under this loan insurance. If you suddenly passed away, your family members would not be required to pay the loan. This protects you, your family, and your credit union from suffering financial losses, because of injury or death.
When I took out my loan with 705 FCU, I asked for a finance term of 48 months. I have been paying on my car loan for the last 36 months and I now have the money to pay off the rest of the payments. Will I be penalized for paying my loan off early?
No. There are no early repayment fees for paying the loan off early, and you will save money on the amount of interest you would have paid for the remaining 12 months of the finance term.
Your loan approval is good for thirty days from the approval date. If you do not accept the loan within this time, you will need to reapply.
I currently have an auto loan with another financial institution. Their rate is higher than 705’s rate. Can I refinance with 705 FCU?
Yes. You can apply for a refinance with us at any time. We will set up the loan on your 705 account and send a check for the payoff amount directly to the financial institution that was financing your loan. You can also refinance a loan that you have with a dealership.
Yes. In order to do this, you would need to setup an ACH transfer between your other financial institution and 705 FCU. This will allow you to send money from your other financial institution’s account to Section 705.
Yes. Before applying for a loan, you must qualify for membership and open a share savings account with a deposit of $25. After you open an account, you can submit a loan application.