A very important service of Commodore Perry Federal Credit Union is to loan money to our members.
When can I apply for a Loan?
Anytime! Apply for a loan online, or you can pick up an application at one of our offices.
What can I borrow?
It depends on the security offered, your credit score, ability to repay, credit history, and other factors.
What is the loan process?
After we receive your application and a recent paystub, a credit check is made. We look at at your credit history, ability to repay, collateral (if any), etc. All loan applications must be approved by a loan officer, then we contact you to sign the final paperwork in our office.
How long does it take?
All applications generally receive a decision within 24 hours of the application.
Are there any pre-payment penalties?
No pre-payment penalties!