Welcome Federal Credit Union is an "Equal Opportunity Lender", making loans without regard to race, color, religion, sex, national origin, marital status, or age.

• How to Apply for a Loan

• Types of Loans Available

• Car Loans

• Certificate Secured Loans

• HUD Title 1 Home Improvement Loans

• PC Equipment Loans

• Personal Loans

• Real Estate Loans

• Share Secured Loans

• Vehicle Loans

You can apply for a loan as soon as you join Welcome Federal Credit Union. Applicants must meet the Credit Union's criteria for credit worthiness (i.e., good current and past credit history, satisfactory debt ratio, good employment status, etc.).

Line-of-Credit Loans

• Credit limit = $1,000.00 up to $10,000.00, based on credit worthiness and 10% of gross annual salary not including overtime, bonuses, etc.

Overdraft Line-of-Credit Loans

• Available protection on your "Credit Union Checking" account

• Protect yourself by avoiding check returns and non-sufficient funds fees

• Credit Limit = Up to $10,000.00

• Payment is automatically deducted from your checking account.
  

Holiday Line-of-Credit Loans

• Credit limit between $1,000.00 and $2,500.00, depending on credit worthiness

• Advances can be made between October 1 and January 31 of each year.
  

Summer Vacation Line-of-Credit Loans

• Credit limit between $1,000.00 and $2,500.00, depending on credit worthiness

• Advances can be made between May 1 and August 31 of each year.
  

Debt Consolidation Loans

• Amount = Up to $10,000.00 per member

• Paid-in-full receipts are required for all debts consolidated.
  

Tax Relief Line of Credit Loans

• To assist you when you are required to pay taxes

• Amount = Up to $10,000.00 per member

• A copy of tax return form or tax invoice/bill is required prior to disbursement of loan proceeds.

• Includes taxes due to the following revenue collecting agents: Federal, State, County, or City.
  

Disaster Loans (Disaster is defined as fire, flood, tornado, hurricane, wind, water, earthquake, etc.)

• Amount = Up to $10,000.00 per member

• Documented proof of the insurance claim may be required

• Disaster loans are "interest-free" for the first 365 days.
  

90-Day Notes

• If you are expecting an influx of funds within 90 days, but need the money now, we have the help you need. If your funds are coming from a verifiable source, we can loan you the money on a 90-day note.

• A few examples of acceptable verifiable sources of income are: insurance settlement; inheritance; divorce settlement; estate settlement, etc.
  

For more information about personal loans or to obtain an application for this loan, you can either print our loan forms from this web site or call or stop by any of our branch offices.

• The amount secured will be the amount equal to the outstanding loan balance plus interest. (As the principal loan balance is repaid, those dollars then become available to you should you want to withdraw them.)

• Share Certificates, Christmas Club Accounts, Money Market Savings Account, and Individual Retirement Accounts do not qualify for share loans.
  

For more information about share secured loans or to obtain an application for this loan, you can either print our loan forms from this web site or call or stop by any of our branch offices.

• If you have invested your money in a WFCU Share Certificate and need the funds before the maturity date, we have a loan option for you. You can borrow up to 90% of the certificate amount and pledge your certificate as collateral.
  

For more information about certificate secured loans or to obtain an application for this loan, you can either print our loan forms from this web site or call or stop by any of our branch offices.

New Automobile, Truck, Recreational Vehicle, Boat, and Motorcycle Loans

• Amount financed is based on approved credit, individual circumstances, and the value of the vehicle as established by the vehicle's sticker price, MSRP, or Kelley Blue Book value. For additional information, call or stop by any of our branch offices.

• Taxes, license fees, and warranties may also be financed.

• All vehicles up to one year old will be financed as "new" (ex., all 2007 & 2008 models will be financed as new for the entire year of 2008).

• Take advantage of Anytime Advisor New Car Buying Coach.  Click here for more information.
  

Used Automobile, Truck, Recreational Vehicle, Boat, and Motorcycle Loans

• Amount financed is based on approved credit, individual circumstances, and the value of the vehicle as established by the N.A.D.A. Official Used Car Guides depending on year, model, and condition of vehicle. For additional information, call or stop by any of our branch offices.

• Taxes, license fees, and warranties may also be financed.

• Take advantage of Anytime Advisor Used Car Buying Coach.  Click here for more information.
  

Green Vehicle Loans

• Go Green with a U. S. Government Environmental Protection Agency (EPA) designated SmartWay® vehicle and we’ll reward you with a discounted loan rate. The rate discount is based on the vehicle’s EPA designation at the time the loan is granted* and will be applied to the approved loan rate determined by the Credit Union in accordance with our Risk-Based Lending Policy.

• The EPA rates vehicles on calculated greenhouse gas emissions and fuel economy. The most environmentally friendly vehicles receive a SmartWay® or SmartWay® Elite designation. You’ll be surprised at how many vehicles qualify for the EPA’s SmartWay® rating, not just hybrids and small cars.

• The Green Vehicle Loan offers discounted loan rates for fuel efficient and eco-friendly new and used vehicles** with a SmartWay® or SmartWay® Elite EPA designation.

• Vehicles with SmartWay designations are denoted on the following web site with the SmartWay® logos:
  
  http://www.epa.gov/greenvehicles/Index.do      

Luxury Vehicle Loans

• Luxury Vehicle loans are for loan amounts of $40,000.00 and over.

• Luxury vehicle status will be determined by the mileage category as stated in the N.A.D.A. Official Used Car Guide as a Class IV or Class V vehicle.  Newly marketed luxury vehicles are listed on the Kelley Blue Book web site.  

• New amount financed is based on approved credit, individual circumstances, and the value of the vehicle as established by the vehicle’s sticker price, MSRP, or Kelley Blue Book value.  For additional information, call or stop by any of our branch offices.

• Used amount financed is based on approved credit, individual circumstances, and the value of the vehicle as established by the N.A.D.A. Official Used Car Guide, depending on year, model, and condition of vehicle.  For additional information, call or stop by any of our branch offices.

• Taxes, license fees, and warranties may also be financed.

• All vehicles up to one year old will be financed as "new" (ex. all 2007 & 2008 models will be financed as new for the entire year of 2008).
  

Classic Auto Loans

• Amount financed is based on approved credit, individual circumstances, and the low retail, average retail, or high retail value as defined by the NADA Classic Cars Appraisal Guide. For additional information, call or stop by any of our branch offices.

• Cars considered as Classics must be listed in the NADA Classic Cars Appraisal Guide.
  

For more information about vehicle loans or to obtain an application for this loan, you can either print our loan forms from this web site or call or stop by any of our branch offices.

• Amount = Between $250.00 and $5,000.00

• Loans are made for the purchase of new PC equipment and any software that's bundled with the purchase.

• Member must furnish a copy of the computer invoice, bill, or a receipt for loan file.
  

For more information about computer loans or to obtain an application for this loan, you can either print our loan forms from this web site or call or stop by any of our branch offices.

• Amount = 100% of improvement up to $25,000.00

• Loan proceeds can only be used for improvements made after the loan is approved.

• The improvement must be one approved by HUD (US Department of Housing and Urban Development).

• In addition to meeting the Credit Union's criteria for credit worthiness, HUD imposes several requirements and restrictions under this program.
  

For more information about home improvement loans or to obtain an application for this loan, please or call or stop by any of our branch offices.

Home Equity loans, Land loans, and Mobile Home loans are restricted to real estate located within the state of North Carolina.

Residential Mortgage Loans

If you're looking for a new home or just some extra cash, we're got a custom mortgage loan made especially for you.  The best options, great rates, and someone you trust to guide you!

• Property nationwide is eligible. (Property in Puerto Rico is excluded.)

• Purchase or refinance your current mortgage loan.

• Eligible property is one to four family dwellings including condominiums, townhouses, *modular homes, and *double-wide manufactured homes. (Investment or rental property, commercial farm property, commercial property, second homes, vacation homes, and construction loans are not permitted.)  All properties must be owner-occupied, primary residence.   *Restrictions apply.

• First-time home buyer program.

• Government loans (FHA, VA).

• Fixed and Adjustable rate loans.

• Cash-out refinances.

• The Credit Union Mortgage Resource Center works only with Credit Union members and has over 25 years of experience within the Credit Union community.

• You'll receive the Credit Union standard of professional, friendly, and courteous service.

• For more information, call the Mortgage Resource Center toll-free at 1-866-356-7449
  or visit the web-site at welcome.mtgresourcecenter.com.

• Take advantage of Anytime Advisor Home Buying Coach.  Click here for more information.

Land Loans

• Amount = Up to 90% of the actual selling price or up to 90% of the appraised value, whichever is less

• Land financed is restricted to undeveloped, single-family dwelling, residential building lots.

• You can use this loan either to purchase land or use land you already own as collateral for a loan.
  

Home Equity Loans

We offer a beneficial, competitive home equity loan program for members. If you are interested in this loan program, please call your nearest Welcome Federal Credit Union branch office for detailed information.

Mobile Home Loans

Mobile home loans will be limited to first lien, owner occupied, new and used mobile homes. Mobile homes must be used as the borrower's primary residence or second home (vacation home). Mobile homes used as rental property cannot be financed. Mobile homes permanently attached to real estate will be considered real property and financing will be handled through the Mortgage Resource Center. For more information, call the Mortgage Resource Center at 1-866-356-7449 or visit the web-site at welcome.mtgresourcecenter.com

New Mobile Home Loans

• Amount = Up to 100% of the purchase price

• All mobile homes up to one year old will be financed as "new" (ex., all 2007 & 2008 models will be financed as new for the entire year of 2008).
  

Used Mobile Home Loans

• Amount = Normally, up to 100% of the wholesale value as established by the N.A.D.A. Manufactured Housing Appraisal Guide

• To ascertain the value and condition of a used mobile home, an appraisal or a "condition report" is required.

For more information about real estate loans or to obtain an application for these loans, please call or stop by any of our branch offices.