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Who can belong to the Alexandria Schools Employees Credit Union? Any person (or family member) employed by one of the
following schools: Alexandria
Technical College District
206 Runestone Area Learning
District Runestone Regional
Learning Center
What
services does the credit union provide for members? The credit union offers collateral and signature loans, home equity loans and maintains share(savings) accounts. How do I apply for a loan or start
a share account? Click the
Applications link, then the appropriate link to obtain a loan application or membership application to apply for membership.
They are also available at any of the schools, or you may obtain either application from the credit union treasurer.
You can email a request or click on Home and scroll down to the Request more Information section. Fill out the appropriate information and Submit. The treasurer will
send you one or both applications. You will also need to deposit/maintain a $5.00 minimum balance
in your share(savings) account with the credit union. What is the time line on the loan
process? After you submit
your application, processing time is quick - when the loan is approved, the funds can be available the same day. How do I make a payment on my loan? At the time of the loan application process, a monthly payment will be determined. You
may make your payment through payroll deduction, (which is available to District 206 employees), bill pay from your bank,
interschool mail or regular mail. How can I use my loan money? You may use the money for whatever you indicate on your
loan application. Common uses for loans are new and used vehicles, boats, home or auto repair, debt consolidation, and college
education expenses. Are there restrictions on the loans and share (savings)
accounts? Yes, share account
maximums are $75,000 and monthly deposits may be restricted from time to time. Home equity loan minimum is $10,000 and maximum
of $50,000. Signature loans have a maximum of $5,000. Total aggregate loan balance maximum is $50,000.
How do I know what the interest rates are and how often do they change? The board reviews loan rates on a monthly basis. You
can call the Treasurer at 762-6533, e-mail crunion@rea-alp.com, or check "Current Rates" on this web site to obtain the
current rates. |
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