One of our convenient consumer loans will help you purchase your next new or used car, boat, special vacation or the new piano ... you name it. Perhaps it's just to consolidate some bills. Our friendly loan staff has the knowledge and experience to assist you in working out the consumer loan that's right for you and payments to fit most any budget.

Installment and Time Loans are available.

Installment Loan

An installment loan is a loan on which the principal and interest are repaid on a monthly basis.

Features and Benefits

• Loan types include bill consolidation, automobiles (new and used), home improvement, boat loans, personal expenses
• Interest rate varies with loan amount and terms
• Loans are made on A Simple Interest Basis
  • Simple Interest: Is calculated on the declining balance and accrues daily. If you pay off your loan early, you will be in essence paying less than the original calculation on your existing loan.
• Amount and terms of loan vary according to your needs and qualifications
• Principal and interest paid back on a monthly basis
• Payment book is provided
• Payment can be made by mail, night deposit, or at any branch location
• Automatic deduction from your checking or savings account can result in a quarter percent reduction in rate
• You complete an application and submit it to a Loan Officer to review. Credit check is done.
• Application is reviewed and you are notified of approval
• Interest rates are fixed
• Terms may be set at up to 10 years for repayment, typically no longer than 5 years
• Credit Life and Disability insurance are available
• No minimum or maximum amount set for loans
• Requests are handled on an individual basis, based on your credit worthiness and ability to repay the loan
• You can be assured that rate and payment on loan will remain the same throughout the term
• These loans can be approved usually within one day which permits you to make purchases on a timely basis
• Variety of payout schedules available to accommodate your ability to repay the loan
• Coupon book serves as a reminder to make your payment
• Option of having payments deducted from account provides you the convenience of not having to come to the bank to make a payment. It also eliminates the chances of a late payment and gives you a lower interest rate.
• Availability of Life Insurance and Health and Accident Insurance provides security
  • Credit Life pays loan upon your death
  • Accident and Health Insurance makes payment if you are ill and unable to work for 30 days and have a Doctor's certificate
• No prepayment penalty

Time Loans

Used for short term financing with the loan being repaid by specific funds to be received in the future.

Features and Benefits

• No set minimum amounts
• Fixed or floating interest rate
• The rates are based on the most current interest memorandum and are determined at commitment or closing date
• Interest paid monthly or quarterly
• Various principal repayment terms
• Terms up to six months are acceptable with one ninety day renewal at which time the bank would expect payment in full. Generally, time loans greater than 270 days are approved on a term loan basis. If from the outset the loan officer determines that the need is a recurring one, a line of credit would be considered and is the more appropriate structure.
• Loans may be secured or unsecured
• Loans may be renewed for a special term
• Appraisal is required if real estate is taken and the loan is greater than $250,000.00 and real estate secured. Otherwise, an internal evaluation is needed.
• Flexible terms to meet your needs
• Flexible interest rates.
• Fast loan decision

Charges/Fees

• Closing costs for secured loans
• The overall banking relationship is taken into consideration when assessing a fee. The officer refers to the most current interest rate memorandum for fee guidelines.
• 5% penalty for payments 10 days or more past due