Based upon length of IWU employment, members may obtain unsecured (signature) loans up to $7,500 for a maximum period of 48 months.

Collateral
Acceptable collateral includes: clear title to vehicle, member's shares or co-signer's shares. The Credit Union does not accept titles, deeds, abstracts to real estate or personal property (such as jewelry, furniture, stocks, bonds, certificates of deposit, etc.) for collateral.

When using a car as collateral, it is mandatory to:

• obtain total comprehensive insurance made payable to the IWU Federal Credit Union to cover the amount of the loan.
• send a copy of the policy from the insurance company to the IWU Business Office within 30 days of the day the loan is made - or the loan is subject to call.

Loan Rates  (Maximum for all loans: $35,000)

New Unsecured (Signature)  Loan Terms:
  - All unsecured loans at 10%
  - IWU Employment:

  3-11 months              $1,000        30 months     
12-23 months              $2,500        30 months     
24-83 months              $4,000        30 months     
84-more months          $7,500        48 months     

Check out our NEW rate

New Car Loans
up to 60 Months                                               1.99%
61 - 72 Months                                                 2.49%

Used Car Loans
1-4 year old cars up to 60 months                      3.25%
5 years and older up to 48 months                     4.25%

Motorcycle Loans
New                                                                4.25%
Loan not to exceed 60 months

Used                                                               6.25%
Loan not to exceed 48 months