Loan Products
Online Loan Application
Loans and Lines of Credit to fit your needs!
One of the primary reasons credit unions were founded was to give members a low-cost
alternative to traditional financing. That's why credit union loan rates are typically
lower than those of other financial institutions. It's just another benefit of credit
union membership!
You are our best investment. That's why we have been providing members like you
with the money you need for over 50 years. At Mutual 1st Federal you can borrow
for whatever you need, quickly and conveniently.
Our wide range of loan products include:
Just need plain CASH? You've come to the right place.
Fixed-rate, closed-end personal loans are made in repayment terms that will fit
your budget. The interest rate varies with the loan term. This type of loan is generally
made for purposes such as medical bills, car repairs, furniture purchases, etc.
Personal loans are one of the ways credit unions serve their members that other
financial institutions do not.
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There has never been an easier or more convenient way to get the credit you deserve.
Mutual 1st Federal Line is a personal, revolving line of credit up to $25,000.00.
When you need money for unexpected expenses, home improvements, special bargain
purchases or to make a timely investment you simply write a check.
Repayment plans are flexible. You may repay the entire balance at any time or in
monthly installments of just 2% of the outstanding balance. Once you qualify, you
can access your line through your Mutual 1st Federal checking account or, if you
prefer, with your complimentary Mutual 1st Federal Line checks. Even if you have
never borrowed from us before, you only apply for this convenience once.
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Have a large home improvement project in mind, but don't want to take the time to
get a loan based on your home equity? A home improvement loan based on your good
credit gives you fast and flexible access to the money you need.
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Strictly speaking, any loan secured by the value of your home, minus outstanding
mortgage loan debt is a home equity loan. By using the equity in your home, you
may qualify for a sizable amount of credit, which is available to you to use when
and how you please at an interest rate that is relatively low.
When you're shopping for a mortgage, whether it's to finance a new home or to refinance
your present home, your first concerns are probably going to be interest rates and
points. Which is good. It means you're a smart consumer of financial services. But,
keep in mind that home mortgages are in many ways like any other service. While
cost is an important consideration, it isn't the only one. Our member friendly home
loan program offers:
- Competitive interest rates and points
- Some of the lowest fees in the area
- Simple, easy, member friendly pre-qualification
- No penalty for paying your loan off ahead of schedule
- Option of loan servicing within the credit union
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We accept security to include pledges of share savings on deposit with us, the assignment
of a time certificate you hold with us and some securities like blue chip stocks.
Property which can have a security interest placed on it, such as a personal computer
can also be used as security for a loan.
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Accepted worldwide, your credit union credit card is the one you will want to use
on a daily basis. If you are traveling for business, pleasure or just down to the
local mall, your Mutual 1st Federal VISA credit card is all you need to charge purchases
or obtain cash. With other credit cards charging interest rates as high as 22% and
annual fees as high as $50, our credit card offers you the convenience you want
with savings you can't afford to pass up.
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Mutual 1st Federal offers several loan protection products for the benefit of our
members:
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