SIU Credit Union Can Put You in Business

Posted by SIU Credit Union on Oct 27th, 2009 | no comments

SIU Credit Union is here to help small-to-medium size business. Credit unions have established a relationship with the Small Business Administration (SBA) to expedite loans to credit-worthy small businesses. The SBA’s finance programs enhance the ability of credit unions to provide long- and short-term loans to small businesses that might not qualify through other lending channels.

SBA loans can only be used to finance the start-up, operation, or expansion of a business. You can’t use the funds to repay other debts, reinvest in financial instruments, or speculate in real estate, financial, commodity, or other markets.

To obtain an SBA loan, you must demonstrate the ability to repay the loan from the cash flow and profits of the business and meet other eligibility criteria.

The credit union makes all necessary arrangements to secure a loan with the SBA. Both fixed and variable interest rates are available for an SBA loan.

Borrowers should be prepared to pay closing costs on SBA loans, including all recording and packaging fees, title company and environmental reports, appraisals, and attorney fees. Total closing costs average between 3% and 5% of the loan amount.

SIU Credit Union may be able to help you with your business; visit our business services representative, Angela Williams-Barke today to see how SIU Credit Union Business Services products can help you. Call 618-457-3595 to schedule an appointment.

Having a Hard Time Making Your Car Payment?

Posted by SIU Credit Union on Oct 26th, 2009 | no comments

Refinance your auto loan with us.

Did you finance a car in the past year or two?

Did you take advantage of a 0% financing offer but now can’t afford the hefty monthly payment?

Are you paying a high rate through another lender?

Do you want the convenience of having your auto loan at the credit union?

If you answered “yes” to any of these questions, we can help. Even by pushing the interest rate on your auto loan down a percentage point or two, the money you save really adds up.

Stop in or call today to find out how refinancing at the credit union can benefit you.

Your Deposits are Insured

Posted by SIU Credit Union on Sep 15th, 2009 | one comment

Credit Union leader Daniel Mica, of CUNA, outlines how credit unions are strong, safe and sound with virtually all insured by an agency of the federal government — just as banks are federally insured.

Mica, a former U.S. congressman, is president and CEO of the Credit Union National Association (CUNA), the leading trade association representing the nation’s 8,500 credit unions and credit union leagues in all 50 states and the District of Columbia. Credit unions are not-for-profit, member-owned financial cooperatives. With 90 million members – nearly one in three Americans – credit unions constitute perhaps the nation’s largest membership group.

At SIU Credit Union your savings are federally insured to at least $250,000 and backed by the full faith of the U.S. Government. National Credit Union Administration, a U.S. Government Agency.