PDF TIGER LOAN APPLICATION - Savannah State University

TIGER LOAN APPLICATION

Name ____________________________________________________ Amt. Requested (Circle one)

$500

$750

$1000

Member # ____________ SSN __________________________ Home Phone _______________________ Cell Phone ________________________

Current Address ____________________________________ City/State/Zip ________________________

Current Employer _____________________________________ Position ____________________________

Supervisor's Name ____________________________________ Work Phone ________________________

Relative's Name & Address ________________________________/_________________________________

Relative's Phone Numbers ____________________________________(relative must reside at a different address)

I hereby certify that I have been a credit union member in good standing for at least 3 months and have been employed at my current job for 12 months and I am in good standing.

I agree to have my payments (6months maximum) automatically deducted, $181 per month for the $1000 loan or $136 per month for the $750 loan or $91 for the $500 loan. If enrolled in payroll deduction I further agree not to stop the deductions until the loan is paid in full. It will then be my responsibility to change or stop the payroll deduction.

I agree that there will be no extensions of the 6-month term of this Tiger Loan.

I hereby certify that I have not filed Bankruptcy in the past 7 years, nor do I plan on filing Bankruptcy at this time or in the near future.

I hereby certify that I have not caused the Credit Union any unresolved previous loss.

I agree to have no more than one (1) Tiger Loan at a time.

If deemed necessary by the Credit Union, I agree to follow up with the 3 credit bureaus via the web or in writing to ensure that my personal credit report reflects that all my accounts are current and I agree to the appropriate credit counseling.

FINANCE CHARGE ? the dollar amount this credit will cost you is $ ___________________________. The total amount you will have paid after you have made all payments as scheduled is $ ________________________. The first payment of $______________ will begin on __________________________ and the last payment will be made on _________________________. The application fee is $_20.00. There is a late charge of $25.00 due if you are late with your payment. All disclosures are made on an assumed maturity of six (6) months.

X ____________________________________________________________

Borrower's Signature

Approved by Loan Officer _____________________________________

_____________________________________________ Date

Date _________________________________________

TIGER LOAN

To Help Guide You Through the Rough Times!

"Quick Cash" loan for emergencies, short-term needs, and to replace the need for payroll advance loans. ($1,000 maximum/six(6)-month payout/ 25% APR, $20.00 application fee/no credit check) *WITH SSU PAYROLL DEDUCTION APR is 22%

QUALIFICATIONS

? Be a Credit Union member in good standing ? for at least 1 month and have on-going activity in your Share account(s) (i.e., more than $25.00 minimum)

? Employed at your current job for a minimum of 12 months ? Loan proceeds will be disbursed by a check ? Payments must be payroll-deducted (employees only)*optional ? Have no plans to file Bankruptcy; have not filed in the past 7 years ? Must be current on all other loans at the Credit Union ? Have no unresolved previous loss to the Credit Union ? Have no negative balances in any other Credit Union account ? Have only one (1) Tiger loan at a time ? Must apply and be approved to qualify

TERM

? The term shall not exceed six (6) months. The limit shall not exceed $1,000.00. Must be paid in full before requesting any other loan.

INTEREST RATE

? The Annual Percentage Rate (APR) will be 25%. *22%APR with SSU PAYROLL DEDUCTION

? Minimum Monthly Payment: $91 for $500 loan, $136 for $750 loan, and $181 for $1000 loan.

? There is a $20.00 fee per loan application.

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