Please note that some loans may not be refinanceable due to policies put in place by the credit union.
Step 1 – Go to the Loan Application Page
This page can be located by clicking on the, ‘Loans,’ option on the main menu on the left side of the page. Then click the, ‘Loan Application,’ tab at the top of the page. Once the page has loaded select, ‘Refinance an Existing Loan,’ then click on the Continue button. This will bring you to the next page.
Step 2 – Select Account and Balance
If you have more than one account in the credit union then select which one your current loan is under. This will display your current loans at the bottom of the page. Click on, ‘Refinance,’ next to the loan you wish to refinance.
Step 2 – Enter Amount and Repayment Details
Enter the amount you wish to borrow in addition to the current loan amount into the, ‘Amount Required,’ box. The new loan amount will be calculated and displayed in the following box.
Next, you must enter either enter the duration you wish to repay the loan over OR the amount of money you wish to pay back for each repayment period. Do not enter both. Select the repayment frequency from the drop down menu, and then click on Continue.
Step 3 – Enter Employment and Income Details
The next page requires you to enter details of your employment. Examine the information required and ensure that the details you provide are accurate. Providing incorrect information may result in your application being rejected.
The bottom of the page allows you to enter other income information outside of your regular employment. Please ensure all additional income is documented in this section.
When you have completed this page click on the Continue button.
Step 4 – Expenditures
The next page requires you to enter details of your expenditures Examine the information required and ensure that the details you provide are accurate. Providing incorrect information may result in your application being rejected.
Enter details of your mortgage in the first section, and details of other major expenses in the second section.
Step 5 – Terms and Conditions
Read the terms and conditions and check the relevant boxes to indicate that you understand and approve of them. Once you have done so, click Continue to progress to the next page.
Step 6 – Confirmation of Loan Details
Review the information presented to you on this page and ensure that it is all correct. If it is not, click on the Previous button at the bottom to go back and make any relevant changes.
If there is any other information you feel the Credit Union should know regarding your Loan Application, enter it in the box provided. Click Finish to complete the application process. Your application will be submitted for review to the Credit Union.