Steps for
your
L.E.O. Share Secured Loan
How does a L.E.O.
Share Secured
Loan Work?		 An amount of money equal to the amount of the loan is kept on deposit, in a share account for the duration of the loan.
The money continues to collect interest while in the share account -- this somewhat offsets the amount of interest you are paying on the loan, making the actual amount of interest paid on the loan usually less than 4%.
OBTAIN LOAN PACKET INFORMATION FROM WICKLIFFE OR PAINESVILLE OFFICE
  Obtain loan packet information from your L.E.O. Office. This loan packet contains your actual loan application, and insurance options - some of these forms can be viewed/printed from this site.
DETERMINE AMOUNT YOU NEED TO BORROW:
Use our General Purpose Loan Calculator
  Refer to our Current Share Secured Loan Rates
COMPLETE LOAN APPLICATION FORM
  Refer to General Loan Application Instructions or View/Type in, and Print our Loan Application
RETURN YOUR COMPLETED LOAN PAPERWORK
  Return your completed loan application, attaching any other necessary paperwork (pay stubs, etc.), per our loan application instructions and make sure all paperwork is signed properly.

Your loan packet information can be returned to the Wickliffe or Painesville L.E.O. office, either in person, by fax, or through inter-office mail
YOUR LOAN APPROVAL
You will be advised (usually with 24 hours) if your loan is approved or referred to the credit committee, which meets every Tuesday afternoon.
The credit committee, also appointed by the Board, is responsible for ensuring that loan requests and loan processing are effectively and fairly handled based upon policies and procedures established by the Board.

 
 

This credit union is federally-insured by the National Credit Union Administration

We do Business in Accordance with the Federal Fair Housing Law and the Equal Credit Opportunity Act.

L.E.O. Credit Union's web site is connected to third party websites.
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