How to apply
Candidates are required to apply for a loan through an SCCU branch by downloading and filling out the application form, preparing the required documents, and submitting them online. Candidates must submit an application form together with their other prerequisites and wait for the approval. Within two business days, the authorities will contact the candidate regarding approval.
The company offers multiple types of loans, including auto loans, personal loans, and mortgage loans. It also offers other types of credit facilities like credit cards, checking accounts, etc. SCCU assists members in using their regular savings or CD balances as collateral to get a loan. The loan comes with a loan term of up to 60 months along with competitive interest rates. To apply for a personal loan, the applicant must have a credit score of 740 or higher. SCCU auto/vehicle loans cover boat and RV loans, motorcycle loans, scooter loans, car loans, and refinancing of auto loans. The loan terms go for up to 84 months with an interest rate of 1.89% per month.
Requirements
To be eligible for a loan, the applicant must provide:
A filled loan application, which you can receive by calling the company’s sales team. It is also available for download from the official website.
A minimum of two years of business and personal tax returns, including all schedules.
A personal financial statement, which should include records for each owner of the business for up to six months.
A completed business debit summary schedule.
A statement of current interim business financials.
Application details
The company offers loans with a maximum cap amount of two times the applicant’s gross monthly income. Apart from that, the maximum unsecured credit of $20,000 are available from Space Coast Credit Union. The loan is suitable for financial needs that can be repaid within 80 months in some options. Loan applications are normally approved within three to two business days.
Your loan application may be refused if your associated reserve does not meet the required amount recognized for applicants to pay their amortizations, or if you have a bad credit score.
How to apply for a loan
To apply for a loan at SCCU, please follow the procedures below:
Visit the official website and click on Apply.
From the drop-down menu, select the type of loan you are applying for.
Select the purpose of the loan (collateral or secure).
Enter loan information (amount and term).
If you selected without collateral, please enter the reasons that best describe the purpose of this loan.
If you selected secure, please, enter the details about the collateral for the loan.
Click Continue
Upload a picture of yourself.
Enter personal details like your name, SSN, DOB, member number, and citizenship status.
Enter your contact information, including your preferred contact method, email, and phone number.
Enter your current physical address, including your address, zip code, city, state, and the status of your occupancy, along with the duration.
Enter identification information like your ID type, number, ID state, ID date issued, and its expiration date.
Enter financial information like the gross monthly income (before taxes), employment status, monthly expenses, and the monthly mortgage/rent payment (if any).
Please, select if you have another application or not.
Click Continue.
Provide the information on where you heard about SCCU.
Please, check if you want any mobile updates.
Review the application and click on I agree to complete your submission.
After the submission is complete, the bank will contact you within two working days.
