Personal Loans

Whether you need funds for car repairs, emergencies, or to consolidate credit card balances and other consumer debts into one easy monthly payment, Mid-Island FCU offers you rates and options to fit your needs.

Personal Loan Requirements (Maximum Loan Amount $20,000)

  1. Prospective borrower must have at least 20% of the requested amount in his/her account.
  2. A Co-maker is not required for any amount under $10,000.00; any amount over $10,000.00 requires a Co-Maker.
  3. Maker & Co-maker must be employed at present job for one year or more as a full-time employee.
  4. Maker and Co-maker are required to bring two (2) Government Identification Cards (local). (NO HEALTH CARDs IS ACCEPTED)
  5. Social Security Card of Maker and Co-maker are a must.
  6. Maker and Co-maker must state all indebtedness in order for the Credit Committee to properly evaluate the loan request.
  7. The two (2) most recent pay stubs (bi-weekly) OR four (4) pay stubs (weekly) and a job letter for the Maker and Co-maker are a must. VI RETIREES - two (2) RECENT PAY STUBS, Social Security-recent Verification letter.
  8. Credit Reports of the Maker and Co-maker are provided by Trans Union. A $80.00 charge is required for this service; (Note: the charge is $40.00 for loan of $10,000.00 or less).
  9. Maker and Co-maker must provide a utility bill or mail showing physical address, a recent WAPA Bill is preferred. Note: If the Wapa bill is not in your name, from the bill holder a notarized letter is mandatory with the WAPA bill. Also, two (2) recent rent receipts, home deed or lease agreement, whichever is applicable to you.
  10. If self employed, Maker and Co-maker need to bring stamped 1040 tax form for present year and one year prior.

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