Loan Solutions

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Find your path and help achieve your financial goals with our lending solutions. We offer loan products that are built to fit a variety of financial needs.

Review the following loan products to identify the one that best suits your needs and submit your application online to get the process started!

Apply for a personal or vehicle loan now

**For any loan product, a savings requirement may be necessary if certain criteria are not met.

Personal Loans

This loan is good for strengthening your credit score.

Maximum Amount: $1,500

Maximum Terms: 1.5 years

Fees: $20 application fee

Requirements:

  • A soft credit check 
  • 10% down payment of loan amount frozen in account
  • Most recent 2 months proof of income
  • 6 months of bank statements (if NCD CU is not the primary financial institution)
  • Financial counseling is required for any loan where the borrower’s credit score is less than 650

This loan is good for meeting personal needs while maintaining a savings balance.

Maximum Amount: Flexible

Maximum Terms: Flexible

Fees: $40 application fee

Requirements:

  • A soft credit check 
  • 100% down payment of loan amount frozen in account
  • Most recent 2 months proof of income
  • 6 months of bank statements (if NCD CU is not the primary financial institution)
  • Financial counseling is required for any loan where the borrower’s credit score is less than 650

This loan is good for meeting personal needs.

Maximum Amount: $15,000

Maximum Terms: 5 years

Fees: $40 application fee

Requirements:

  • A hard credit check 
  • 20% down payment of loan amount frozen in account or monthly deposits in savings frozen)
  • Most recent 2 months proof of income
  • 6 months of bank statements (if NCD CU is not the primary financial institution)
  • Financial counseling is required for any loan where the borrower’s credit score is less than 650

This loan is good for debt consolidation/other.

Maximum Amount: $25,000

Maximum Terms: Flexible

Fees: $40 application fee

Requirements:

  • A hard credit check 
  • Up to 40% of loan amount frozen in account
  • Most recent 2 months proof of income
  • 6 months of bank statements (if NCD CU is not the primary financial institution)
  • Financial counseling is required for any loan where the borrower’s credit score is less than 650

Small Business Loans

**Small Business Loans are only for organizations based in NY.

Amounts: $15,000-$75,000

Terms: Up to 3 years; 10-15% down payment of loan amount

Fees:

  • $100 applications fee
  • 1% origination fee
  • $25 late fee for payments after the 10th of the month

Requirements:

  • Credit check
  • Business plan (if less than 2 years in business) 
  • Balance sheet & income statement or 2 years tax returns
  • 6-12 months bank statements
  • Up to 2 personal guarantees
  • Financial counseling

Amounts: 90% of purchase price

Terms: 5 years; 10% down payment of loan amount

Fees:

  • $100 applications fee
  • 1% origination fee
  • $25 late fee for payments after the 10th of the month

Requirements:

  • Credit check
  • 2 years tax returns
  • 12 months bank statements
  • Minimum of 3 years in business

 

Vehicle Loans

This loan is good for a vehicle 5-8 years old.

Maximum Amount: $15,000-$28,000

Maximum Terms: 4-6 years

Fees: $75 application fee

Requirements:

  • A hard credit check 
  • 10-15% down payment of vehicle purchase price
  • Most recent 2 months proof of income
  • 6 months of bank statements (if NCD CU is not the primary financial institution)
  • Financial counseling is required for any loan where the borrower’s credit score is less than 650

This loan is good for a current or previous year model with 10,000 or fewer miles.

Maximum Amount: Flexible

Maximum Terms: 6 years

Fees: $75 application fee

Requirements:

  • A hard credit check 
  • 5% down payment of vehicle purchase price
  • Most recent 2 months proof of income
  • 6 months of bank statements (if NCD CU is not the primary financial institution)
  • Financial counseling is required for any loan where the borrower’s credit score is less than 650

This loan is good for refinancing an existing loan or lower payment or interest.

Maximum Amount: Flexible

Maximum Terms: 6 years

Fees: $75 application fee

Requirements:

  • A hard credit check 
  • 10% down payment of outstanding loan balance
  • Most recent 2 months proof of income
  • 6 months of bank statements (if NCD CU is not the primary financial institution)
  • Financial counseling is required for any loan where the borrower’s credit score is less than 650

Request to receive a CARFAX Vehicle History Report™

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Our credit union provides a CARFAX Vehicle History Report™ to help protect our members from salvage, total loss, structural damage, lemon, and flood vehicles.

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$25 late fee for payments after the 10th of the month for all loans

Conditions may apply. Call or speak to a member service rep for current interest rates and more information.

See Our Products

We offer helpful lending solutions, convenient banking, and financial counseling services to our members.

 

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Join NCD CU!

We are a member-owned, low income designated, minority depository, certified community development financial institution serving our community.

 

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