Loan Solutions
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*Rates have changed. Please see rate and fee schedule for current rates.
Find your path and help achieve your financial goals with our lending solutions. We offer loan products that are built to fit a variety of financial needs.
Review the following loan products to identify the one that best suits your needs and submit your application online to get the process started!
Apply for a Personal or Vehicle Loan
**For any loan product, a savings requirement may be necessary if certain criteria are not met.
Personal Loans
This loan is good for strengthening your credit score.
Maximum Amount: $1,500
Maximum Terms: 1.5 years
Fees: $20 application fee
Requirements:
- A soft credit check
- 10% down payment of loan amount frozen in account
- Most recent 2 months proof of income
- 6 months of bank statements (if NCD CU is not the primary financial institution)
- Financial counseling is required for any loan where the borrower’s credit score is less than 650
This loan is good for meeting personal needs while maintaining a savings balance.
Maximum Amount: Flexible
Maximum Terms: Flexible
Fees: $40 application fee
Requirements:
- A soft credit check
- 100% down payment of loan amount frozen in account
- Most recent 2 months proof of income
- 6 months of bank statements (if NCD CU is not the primary financial institution)
- Financial counseling is required for any loan where the borrower’s credit score is less than 650
This loan is good for meeting personal needs.
Maximum Amount: $15,000
Maximum Terms: 5 years
Fees: $40 application fee
Requirements:
- A hard credit check
- 20% down payment of loan amount frozen in account or monthly deposits in savings frozen)
- Most recent 2 months proof of income
- 6 months of bank statements (if NCD CU is not the primary financial institution)
- Financial counseling is required for any loan where the borrower’s credit score is less than 650
This loan is good for debt consolidation/other.
Maximum Amount: $25,000
Maximum Terms: Flexible
Fees: $40 application fee
Requirements:
- A hard credit check
- Up to 40% of loan amount frozen in account
- Most recent 2 months proof of income
- 6 months of bank statements (if NCD CU is not the primary financial institution)
- Financial counseling is required for any loan where the borrower’s credit score is less than 650
Vehicle Loans
This loan is good for a vehicle 5-8 years old.
Maximum Amount: $15,000-$28,000
Maximum Terms: 4-6 years
Fees: $75 application fee
Requirements:
- A hard credit check
- 10-15% down payment of vehicle purchase price
- Most recent 2 months proof of income
- 6 months of bank statements (if NCD CU is not the primary financial institution)
- Financial counseling is required for any loan where the borrower’s credit score is less than 650
This loan is good for a current or previous year model with 10,000 or fewer miles.
Maximum Amount: Flexible
Maximum Terms: 6 years
Fees: $75 application fee
Requirements:
- A hard credit check
- 5% down payment of vehicle purchase price
- Most recent 2 months proof of income
- 6 months of bank statements (if NCD CU is not the primary financial institution)
- Financial counseling is required for any loan where the borrower’s credit score is less than 650
This loan is good for refinancing an existing loan or lower payment or interest.
Maximum Amount: Flexible
Maximum Terms: 6 years
Fees: $75 application fee
Requirements:
- A hard credit check
- 10% down payment of outstanding loan balance
- Most recent 2 months proof of income
- 6 months of bank statements (if NCD CU is not the primary financial institution)
- Financial counseling is required for any loan where the borrower’s credit score is less than 650
Request to receive a CARFAX Vehicle History Report™!
$25 late fee for payments after the 10th of the month for personal and vehicle loans.
Conditions may apply. Call or speak to a member service rep for current interest rates, fees and more information.
Small Business Loans
**Small Business Loans are only for organizations based in NY. Rates have changed. Please see rate and fee schedule for current rates.
Amounts: $15,000-$75,000
Terms: Up to 3 years; 10-15% down payment of loan amount
Fees:
- $100 applications fee
- 2%-3.5% origination fee
- $35 late fee for payments after the 10th of the month
Requirements:
- Credit check
- Business plan (if less than 2 years in business)
- Balance sheet & income statement or 2 years tax returns
- 6-12 months bank statements
- Up to 2 personal guarantees
- Financial counseling
Amounts: 90% of purchase price
Terms: 5 years; 10% down payment of loan amount
Fees:
- $100 applications fee
- 1% origination fee
- $25 late fee for payments after the 10th of the month
Requirements:
- Credit check
- 2 years tax returns
- 12 months bank statements
- Minimum of 3 years in business
NCD CU has partnered with the NYS ESD CAP program to enable small businesses that are Minority, Woman, Veteran, Very Small Business or SEDI owned to get access to financing.
Membership Eligibility: Any business located within 25 miles of our location can request to be a member of the Credit Union as part of the application process.
Rules and restrictions apply. For more information click here.
$35 late fee for payments after the 10th of the month for small business loans.
Conditions may apply. Call or speak to a member service rep for current interest rates, fees and more information.
See Our Products
We offer helpful lending solutions, convenient banking, and financial counseling services to our members.
Join NCD CU!
We are a member-owned, low income designated, minority depository, certified community development financial institution serving our community.