Community Credit Union is proud to be a Community Development Financial Institution.

This program is designed for first time auto buyers who have no credit or limited credit history. These loans would require Auto Loan Protection*. The fee for the protection is included in the loan. A decision will be made based on the members ability and willingness to pay, their debt to income ratio, payment to income ratio, loan to value of collateral, credit history, length of residence as well as length of employment. Loan to value can be calculated by taking the amount you wish to borrow for the vehicle and dividing it by the value of the vehicle. Example: Purchase a car for $9,000. and the value of the car is $10,000. If you take $9,000/$10,000 = .90 which means a 90% loan to value. 

The Loan Specialist works with the member to find a vehicle that works with their borrowing situation while meeting these program requirements:

Maximum Loan Amount: $20,000
Age of Vehicle less than 10 years old
Mileage must be less than 110,000

This program allows our Lending Team to take additional risks outside our normal lending standards but does require a few things:

1) Three personal references (name, phone number, and relationship to you),

2) Proof of insurance before closing, and

3) FTAB Fee which can be added into the loan amount so you don’t have to worry about it coming out of pocket. The FTAB fee is dependent on the vehicle price and length of the loan.

*Auto Loan protection is an insurance product purchased by the Credit Union on behalf of the member that reduces some of the risk to the financial institution should the vehicle be repossessed or the member fails to pay as agreed.

This program is designed for borrowers with no credit or damaged credit. This program includes Auto Loan Protection*. The fee for the protection is included in the loan. A decision will be made based on the members ability and willingness to pay, their debt to income ratio, payment to income ratio, loan to value of collateral, credit history, length of residence as well as length of employment. Loan amounts in the program can range from $250 - $20,000 dependent on collateral and borrower.

A Loan Specialist will call members that are approved in the Ready, Set, YES! program and let them know what amount they are approved for, what loan to value ratio is required and what term is being offered. This program allows our Lending Team to take additional risks outside our normal lending standards but does require a few things:

1) Three personal references (name, phone number, and relationship to you),

2) Proof of insurance before closing and

3) RSY Fee which can be added into the loan amount so you don’t have to worry about it coming out of pocket. The RSY fee is dependent on the vehicle price and length of the loan.

* Auto Loan Protection is an insurance product purchased by the Credit Union on behalf of the member that reduces some of the risk to the financial institution should the vehicle be repossessed or the member fails to pay as agreed.