Loan Rates
Effective: August 28, 2007

Click Here For Current Loan Specials!

On Line Loan Application

GENERAL PURPOSE:

The purpose of the lending policy of this credit union is to prudently loan the available funds to qualified members of this credit union. The overall goal is to minimize loan losses while maximizing the return to the membership. . Loans are provided by the moneys that all MEMBERS save with the credit union. Thus, the members must qualify with excellent credit and a debt ratio not more than of gross salary/salaries.

The granting of the loans will be based solely on the following objective policies and procedures to be adhered to by the Loan Officer(s).

LOAN POLICY & QUALIFICATIONS INFORMATION SHEET:

QUALIFICATIONS:
1.) EMPLOYMENT WITH ONE OF THE FOLLOWING: Cedars-Sinai Medical Center, Tower Radiology Medical Group, Inc.,CHS Management, Inc. (formerly Cedars-Sinai Physicians Assoc.), Michael Weiss, Robert Davidson, and Kevin Drury, Cedars-Sinai Medical Care Foundation, Optimatrix Health Solutions, Inc., Employees of Tower Center for Ear, Nose, Throat, Head & Neck Surgery, Inc. or & Employees of Cedars-Sinai Medical Group, AMPCO System Parking.

(a) POOL EMPLOYEES DO NOT QUALIFY.
(b) PER DIEM EMPLOYEES must have 3+months and must work at least 60 hours per payroll at CSHS.

A member must have an active account with the credit union, complete a loan application and must present a LAWSON (Kronos) print out . This form can be obtained from your supervisor or whomever does your kronos.

TYPES OF LOANS:

Is a loan that is secured by the amount in your savings with the credit union. Thes member must maintain the balance owed in his/her savings account. Share secured loans should be paid within a reasonable amount of time. That will be decided between the member AND the loan officer.

Do you want to lower your interest (APR) rate?
If you have a CSHS payroll transfer (subtract) -0.25%
If you are a frequent borrower w/CSFCU (subtract)
If you have more than one loan w/CSFCU (subtract)

Complete a new loan application with copy of your current "Human Resource Payroll System Employee Profile" that you can obtain from their department. They can fax it to us at (310) 423-0276. If you have any questions, please contact us.

We will re-verify your credit references and upon your qualifying we will refinance up to the maximum that you qualify for. We will let members of this credit union refinance to the MAXIMUM OF 3 TIMES ( 3X). AFTER THE THIRD REFINANCE, MEMBER MUST PAY THE LOAN IN FULL BEFORE REAPPLYING. EXCEPTION: WHEN WE HAVE A “SPECIAL”, AND the applicant qualifies for the maximum, the applicant will have 2 separate loans.

Loan Application completed, copy of the Purchase Order, or Appraisal by a licensed appraiser in regards to ANTIQUE CARS, BOATS, MOTORCYCLES, AND RVs if used. Should the car have less than 5000 miles, it would be considered as "NEW".

NEW AUTOS OVER 72 MONTHS: FINANCING AVAILABLE:
We do private party sales provided that you provide all of the necessary information .
*Please see our schedule for unsecured loans regarding FICO score, debt ratio and credit history.

We have Blue Book on our computer, thus we can determine the wholesale and Retail Value - We will finance of WHOLESALE BLUE BOOK and you must provide pictures of front, sides, and back .

"USED CAR POLICY", refinancing an existing car loan with another institution WE will require a "letter of pay-off" from the institution. We will refinance another bank's loan at any time AT 10% of WHOLESALE BLUE BOOK Value of the vehicle as long as the vehicle is not older than 8 years.

10% Above Wholesale Blue Book Value OR the dealer’s asking price whichever is less .
Up to 8 Years of Age:

Age of Car 90%. We will finance of the Wholesale Blue Book value for a maximum of 5 years. ANY refinance of a car loan financed as NEW will be considered as a USED vehicle and the above information applies. If we finance 80% of the Wholesale Blue Book price we will finance for 6 years.

We finance up to 85% of the appraised value of a Classic Car that is older than 25 years, as shown in the CPI (Cars of Particular Interest). The Appraisal Certificate is required at your own expense. Financing up to 10.25% at .

A credit union member that has had a misfortune and is unable to pay current payment amount may request for a loan extension. The process is filling out a “Loan Extension” form and submit it to the credit union for approval. Once it has been reviewed then the loan officer will advise you, if you qualified and send you a copy of the Loan Extension with letter letting you know of the final decision.

*APR: Annual Percentage Rate (Fixed Rate).

All rates are subject to change. Any person that causes or has caused the Credit Union a hardship DOES NOT qualify to participate in CU activities.