Loans

We hope that you will find the lending tools necessary to fit your lending needs at St. Jules Credit Union.  We offer a variety of Secured & Unsecured Loans to our membership.  Whether you are buying a car, truck, motorcycle, home, camper, or consolidating your bills, we have three loan officers available to assist you with your lending needs.  If we do not have what you need then please let us know, so what we can try to accommodate your lending needs.               

Types of Loans Offered:

Loan Application - Complete and print loan application and fax to SJCU at (337) 261-1397.

Loan Experience:

We hope that your overall Loan Experience with St. Jules Credit Union will be a quick, hassle free, and enjoyable experience of which you will share with your family, and friends.

Applications:

For members applying for a loan, loan applications will need to be completed in full.  The loan application process can be done in person or over the phone with a loan officer, or they can be submitted by fax.  Loan Applications will need to be signed by the member in order for us to request a credit report.

Credit Reports:

When you apply for a loan, insurance, or credit card, a credit report file is started on you. The credit report documents where you live, work, if you have been sued or filed for bankruptcy, gives names of creditors that have looked at your credit reports, it tells what credit you have obtained and how you have paid on your bills, and other personal information that could be used in determining if you qualify for a loan.

Credit Rating Tiers:

The credit bureaus generate a credit score based on your credit experiences, such as your bill-paying history, outstanding debts, the age of your accounts, and if there have been any late payments or collection actions. Lenders use the credit information to determine whether to give you credit and how much to charge in the form of interest rates.  Consumers with good credit risk usually have higher scores.

Debt Ratio Calculations & Limit:

When you apply for a loan, loan officers will use information obtained from your application, credit report, and income verification to calculate a debt ratio.  The Debt ratio is defined and calculated as:  Total monthly credit indebtedness payments divided by total monthly gross salary.  Monthly credit indebtedness includes, but is not limited to:  Rent/Mortgage(s), garnishments, alimony, charge accounts, personal loans, and collateral - secured loans.

Credit Decision:

Loan Applications will be reviewed and a credit decision will be made on whether to grant or deny credit based on information submitted or obtained. 

Loan Denial is not limited to the following, but the following are just a few examples of where credit could be denied: 

  1. Member did not complete or sign their submitted loan application.
  2. Member did not provide required paperwork such as verification of income.
  3. Member’s Credit Report shows that the member is currently delinquent on established credit payments.

 

Equal Housing LenderNational Credit Union Administration
NCUA - Your savings federally insured to at least $250,000 and backed by the full faith and credit of the United States Government. National Credit Union Administration, a U.S. Government agency. Equal Housing Lender - We do business in accordance with the Fair Housing Law and Equal Opportunity Credit Act