Loan Overview

CHECU grants loans through the loan policy approved by the Board of Directors and in accordance with rules and regulations by the Pennsylvania Department of Banking and the National Credit Union Administration (NCUA).  The CHECU team holds your application in the strictest of confidence and all credit decisions are made locally by a loan officer who lives in your community.  If application is completed thoroughly, CHECU can normally provide a credit decision and/or grant the loan the same day as the application is received.  We want your lending experience to be positive and efficient.  For specific loan information, please review each loan product.  Remember, the credit union offers credit life and disability on all loan products providing the borrower with peace of mind.  In the event of the borrower’s death, credit life insurance will payoff your loan balance up to $50,000.  If the borrower is unable to work, after 14 days, your credit disability insurance makes your loan payments (maximum of $850/month) retroactive from the first day of disability until you are able to return to work.  For a nominal monthly charge your loans can be covered and any existing insurance through your employer can be used towards other household living expenses. If you have any questions, please contact the credit union.

There are several things you, the borrower, can do to help CHECU provide you with the quickest credit decision and most accurate loan documents:

• Complete as many fields as possible on the loan application.
• Clearly mark if you want credit life or credit disability insurance.
• If there is a joint-borrower, ensure information is completed for that individual.
• Provide the best contact method to reach you during the application process (email, home – work – cell number, or through other means).
• Confirm what repayment terms work best for you (monthly, bi-monthly, bi-weekly, weekly through direct deposit, automatic transfer, ACH from another financial institution, or cash/coupon)
• Send proof of income (current pay stub, bank statement with direct deposit, or W-2 – in most cases a current paystub is more than adequate) by fax (717) 709-1923, through email attachment, mail, or placed in night deposit box.