Loans

Loans Page
One of the POECU’s original purposes was to make loans to members, at reasonable rates of interest. Today’s credit union members know that when it’s time to borrow money, or establish a credit card, POECU still delivers the very best. We’ll help you make your dreams come true, with low loan rates, affordable terms, and a knowledgeable staff to answer your questions.
When you borrow from your credit union, you can take advantage of low cost credit life and disability insurance and the benefit of simple interest loan calculation. As you pay down your loan, you only pay interest on the unpaid balance. You can make extra payments to your loan at any time with no penalty and payments are made easy with your choice of Payroll Deduction, automatic transfer or regular payment plans.
New or Used Car Loan:
We understand that figuring out how to finance your new car is one of the most stressful parts about buying a car. Our loan officers are available to help you find the best loan to suit your needs. We offer pre-approval on our new and used car loans so that you can shop for a car with the peace of mind that your car is already financed. Take out a car loan with us and receive a rate as low as 2.9%*.
First Home Mortgage:
Click here to view information for first home buyers and the current market rates.
Second Mortgage:

With a second mortgage, you can take out a loan on a property that already has a first mortgage in place. The second mortgage is a lump sum of payment made out to you at the beginning of the loan. Like first mortgages, second mortgages must be repaid over a specified term. The loan must be paid off first before you can take out another loan against your home equity.

Home Equity Loan:

Use your number one asset–your home–to borrow money for any worth while purpose. Borrow up to 80 percent of your home’s value, less any outstanding mortgages. We offer home equity loans with rates as low as 5%*.

Simple Mortgage:
Once your house is paid off, you are eligible to take out a Simple Mortgage. If you have multiple debts that you are paying off, this is an excellent way to consolidate all of your debts into one.
Recreational Vehicle Loan:
We offer¬†loans for all types recreational vehicles: boats, personal watercraft, motorcycles, ATV’s, even garden tractors! POECU will help you play, for less than you might expect. With interest rates and terms that make ownership affordable.
Mardi Gras Loan:

While being a part of a Mardi Gras krewe is a New Orleans staple, it is also extremely expensive. Instead of racking up debt on your credit card to pay for membership fees, beads, ball tickets, and costumes; take out a Mardi Gras loan with us to have the fun this Mardi Gras season without the exorbitant rates.

Personal Line-of-Credit (PLC):

PLCs are the perfect way to ensure that you will always have the money that you need when you need it. Use your PLC for overdraft protection or to pay off a high rate credit card.

Share Certificate Secure Loan:

Borrow against the funds in your POECU savings or certificate account to receive a lower, secured loan rate. Meanwhile, you’ll continue to earn dividends on the savings you have pledged.

Tuition Loan:

Elementary and high school tuition is getting more and more expensive with each passing year. Avoid paying a large lump sum at the beginning of each school year, when you are already paying for new uniforms and supplies by taking out a tuition loan with us.

*Credit Permitting

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