MAMTA FEDERAL CREDIT UNION


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LOANS

  • Loans are granted to members of MAMTA for any purpose within the limits of our lending policy. Rates are established by the Board of Directors.
  • Loans are subject to approval by loan officers and the credit committee. A credit report is obtained from a credit reporting service.

NEED A MORTGAGE OR A REFINANCE
MAMTA has partnered with Owners Choice Funding, a company dealing exclusively with credit unions. Whether you’re buying a home or refinancing your mortgage, the process can be overwhelming. That’s why it’s important to work with experts you can trust.

More than just loan officers or mortgage processors, Owners Choice Funding is committed to helping you achieve your homeownership goals. They know that, by putting your mortgage financing in their hands, you trust them to deliver integrity, professionalism and the best products, service and support available. You trust them to deliver the credit union difference.


PROTECTING YOUR MONEY

  • All savings accounts are insured to a maximum of $250,000. This protection is provided by the National Credit Union Administration (NCUA).
  • A reserve fund, required by law, is maintained to protect the credit union against loss due to bad loans.
  • An independent auditor examines our records and procedures at regular intervals to insure we operate in accordance with federal regulations and local bylaws. The NCUA examines all books and records annually.

Attention All Mamta Members:
Our Board of Directors is now offering two new loans:

  • Back to School Special : This loan will be offered only from August 1st through September 30th of each year. You may borrow up to $3000 for one year. The rate of this loan is 10%
  • Auto Repair Loan: You may borrow up to $10,000 for a term of 4 years. The rate for this loan is 8%. Documents from mechanics, car dealers, etc. must be provided. All checks will be made directly to the provider.

All loans requests are subject to proper completion of all forms, adequate credit report and debt ratio

 

I.

 New & Used Cars:

 4.5% 36 months
 5.5% 48 months
 6.5% 60 months
 7.5% 72 months

II.

 Signature Loan:

12.6% up to 72 months

III.

 Share Secured Loan:

  6% (APR) Up to 72 months

IV.

 Credit Card Consolidation:

 6%12 months
 7% 24 months
 8% 36 months
 9% 48 months

V.

 Education Loan:

 7% up to 72 months

VI.

 Home Improvement Loan:

 7.9% Up to 72 months

VII.

 Wedding/Funeral/Special:

 8% up to 72 months

VIII.

 Medical/Dental/Elective Surgery:

 10% up to 72 months

IX.

 Payment of Federal & State Taxes

 6.9% up to 72 months

X.

 Veterinary Medical Care

 9% Up to 72 months

XI.

 Student Loan Special

 5% up to 5 years

XII.

 Vacation Loan

 5.9% up to 72 months

XIII.

 No Credit Check Loan

 15% one year only

XIV

 Back to School Special

 10% up to $3,000/1 year

XV

 Auto Repair Loan

 8% up to $10,000/ 4 years