Account Login

Monday, October 20th, 2014.

Newspaper Employees Credit Union


BOX 15000

Albany, NY 12211
Tel: 518-454-5363
Alt:
Fax: 518-454-5684
info@newspapercu.org

Ask about our $2000 Loan Special!

CREDIT UNION LOAN GUIDELINES
ELIGIBILITY
  • New members are eligible for a loan application after 6 months of continuous employment at the Times Union.
  • Borrowers must be active members of the Credit Union.
  • Inactive members are eligible for a loan application when they become active members and meet all loan requirements.
  • A member must be in Good Standing with the Credit Union. Members who are not in good standing (have not paid off a loan within the orginal loan term) may not refinance an existing loan, and may not apply for a new loan until 6 months after repayment is in full of the delinquent loan.


  • GUIDELINES
  • $5.00 for every $100 loaned must be maintained in shares
  • Interest Rate: 13% for a loan amount up to $6,000. 11% for a loan amount $6500 to $18,000.
  • Maximum period for loans up to $8,000 is 3 years with $15 minimum weekly payments.
  • Maximum period for a loan amount of $8,000 to $18,000 is 4 years with $15 minimum weekly payments.
  • Total amount of a member's active loans(including special promotions) may not exceed $18,000
  • Active loans may include one promotional loan and one standard loan.


  • APPLICATION PROCESSING
  • Application forms can be obtained from Rhonda Bachman or Maureen Wynne. If you leave a request for forms in one of the Credit Union boxes we will deliver the forms to you.
  • ALL loans are subject to Loan Officer approval after verification of Application information and Credit check where applicable.
  • Loan applications must be deposited in the Credit Union Boxes located next to the HUB on the 1st floor and next to the Business Office on the 2nd floor.
  • Loan processing takes 72 hours upon receipt of completed in-full loan applications.
  • Checks are drawn on Wednesday and Friday of each week, holidays excepted.
  • All loans must be picked up in person from a credit union board member.


  • **NEW**UNSECURED LOANS SINGLE SIGNATURE
  • Credit Report required. $15 application fee due with application
  • Maximum loan amount $18,000


  • UNSECURED LOANS WITH CO-SIGNER
  • Requests for loans of $1,000 or less require the borrower to be an employee for at least 6 months and meet loan requirements. No cosigner is required.
  • Requests for loans of $1,500 to $18,000 require the borrower to be an employee for one (1) year for every $1,000 borrowed.
  • YEARS OF SERVICE Amount Borrowed $1,500 to $18,000
    6mos. - 1 yr. Not eligible
    1 - 3 years 1 cosigner
    3 - 15 years 2 cosigners
    15 + years 1 or 2 cosigners at makers option


    SECURED LOANS
  • Loan must not exceed balance of shares. No cosigner required.




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