Repayment of loan
Borrowers are assigned a borrowing limit and can then take out individual installment loans up to that limit. Personal and auto loans are among the two categories of loans offered by the organization. The loan's interest rate ranges from 1.89% to 5.96%, depending on the parameters of the arrangement. The interest rate is fixed, but it is affected by your loan application. The loan terms range from 36 to 84 months.
Supported types of payments
Your monthly amortization can be paid with a bank account or debit card.
Steps to repay
The company supports multiple types of repayment options.
Online repayment
Enroll in online banking to manage your SCCU accounts.
Open the app and log in to your account using your username and password.
Click the title that says Pay My SCCU loan.
Choose either Pay from SCCU account or Pay from other bank account.
After that, enter your credentials and complete the repayment.
Offline repayment
Users can also complete their repayments by calling (800) 447-7228 and following the directions to pay by phone. To make a payment, you will need your member and loan numbers.
Apart from that, you can also pay at a branch. Just find your local branch by going to the company’s website and searching for locations. Furthermore, you can also pay by mail, just send your payment to the address below, along with your loan number.
Space Coast Credit Union, P.O. Box 419001, Melbourne, FL 32941-9001.
Conditions of loan extension
By contacting the admin, loan extensions are provided based on the borrower's payment history.
Early payoff
You have the option of repaying your debt early with no prepayment penalties. An additional payment done for your loan will not advance your next payment’s due date. This is because, according to the company’s policy, additional payment other than what is due will be added towards the principal of the loan.
