General Information

• Our loan rates are very competitive, especially for those with good credit.
  You may apply by phone during regular business hours, through our "Secure Loan Application" , by fax or in person. Wage verification is not required for those with good, established credit.
• Consumer loan applications that meet our lending requirements are typically approved in less than 60 minutes.
• Credit pre-approval is available to vehicle shoppers, eliminating the hassle of arranging last minute financing. For dealer purchases, you may complete your purchase with an Autodraft, a pre-approved check given to you by the Credit Union which you complete and give to the dealer.
• New loans are disbursed by Federal Express (at no charge!) or in person.
• Repay your loan through convenient payroll deductions (from any employer), automatic transfer from a LMFCU account, or through the mail. Auto, truck, boat, RV and personal loans receive a .25% rate discount for automatic repayment.

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New Auto & Truck Loans

A LM Federal New Auto or Truck Loan can be used to finance a new car or truck, or to refinance a new car or truck purchased within the last six months. Rates, down payment and terms vary depending on past credit history. Repayment terms of up to 84 months are available, depending on your credit and the vehicle cost. Loans with 0% down are available to those with good credit. Rate discounts are available for larger down payments and shorter repayment terms. The maximum loan amount available is $75,000. Credit pre-approval is available to vehicle shoppers, eliminating the hassle of arranging last minute financing. For dealer purchases, you may complete your purchase with an Autodraft, a pre-approved check given to you by the Credit Union which you complete and give to the dealer.

Don't forget auto Insurance with MEMBERS^® Insurance

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Used Auto & Truck Loans      

Vehicles through the 2004 model year may be financed (from a dealer or private party) or refinanced with a Used Auto or Truck Loan. Loans for vehicles back through the 1998 model year are available for those with good credit, provided the vehicle has a value of $10,000 or greater. Repayment terms up to 72 months are available, depending on your credit, the vehicle value and mileage. Loans with 0% down are available to those with a good credit history. Rate discounts are available for larger down payments and shorter repayment terms. The maximum loan amount available is $75,000. Credit pre-approval is available to vehicle shoppers, eliminating the hassle of arranging last minute financing. For dealer purchases, you may complete your purchase with an Autodraft, a pre-approved check given to you by the Credit Union which you complete and give to the dealer.
Thinking of purchasing a used vehicle? Use CarFax to make it a smart purchase!Discounted reports available by speaking to a loan specialist.  PLUS, We'll refund the fee of up to 3 reports if you finance a vehicle with us!

Don't forget auto Insurance with MEMBERS^® Insurance

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Boat, Personal Watercraft & Recreational Vehicle (RV) Loans

Boat and Recreational Vehicle Loans can be used to finance the purchase or refinance of a new or used boat, motor home, travel trailer (standard or 5th wheel) or camper. Boats of any age are eligible; a hull survey or inspection may be required. Personal watercraft (jet skis, waverunners) are also eligible if they are titled. Boats may be titled in your state of residence or documented with the U.S. Coast Guard. RVs up to 8 years old are eligible. Repayment terms to 15 years are available (depending on value). A minimum of 10% down payment in cash or valid trade-in credit is required (depending on credit). The maximum loan available is $100,000. Additional rate discounts are available for larger down payments and shorter repayment terms. You may apply for credit pre-approval, eliminating the hassle of arranging last minute financing. Loan pre-approval requests are processed within 24 hours. Call the Credit Union and speak to a loan representative to get a value on a used boat, RV or personal watercraft or click on the appropriate link below.

Insure your boat, personal watercraft, or recreational vehicle with MEMBERS^® Insurance

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Personal And Home Improvement Loans

These fixed-rate, unsecured loans are designed for members with good or even less than perfect credit histories. Those with good credit and finances will receive our lowest interest rate, but loans are also available to those with little or no established credit history. The maximum loan may be as high as 17% of your annual income, based on your credit. The maximum loan available is $20,000; the minimum loan required is only $300. Repayment terms of up to 4 1/2 years are available (depending on the loan amount). There are no pre-payment penalties.

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