To apply for any of our loan products, please submit a Loan Application. If you are an NIU employee, please fill out and fax, email, or drop off an HR Income Verification each time you submit a loan application. If you work outside NIU, we will need proof of your income via your last two paystubs, most recent W2, or bank statements showing two or more regular deposits.
- For New Auto Loans, we will need the VIN number of the vehicle, and the MSRP (Manufacturer’s Suggested Retail Price) of the vehicle. A “New” auto has never been titled.
- For Used Auto Loans, please fill out a Used Vehicle Worksheet so we can value the vehicle. We can loan up to 90% of the NADA listed value on a vehicle 10 years old or less. You will also be responsible for the $95 title fee to place NIU Credit Union as lien holder on the vehicle.
- For a Debt Consolidation Loan, please fill out the Debt Consolidation Worksheet so we can accurately determine debts not including what you intend to pay specific merchants.
Loan processing takes approximately 24 hours to return a response on your request. We make every effort to determine how we can help your financial well being, and in the instance we are not able to offer the loan requested, we will sometimes counter-offer a product or service we feel would help you.
We offer life (up to age 70) and disability (at 25 hours or more per week) protection for our loans. While you may already have other insurance products, these protections mean that your estate would not be responsible for paying the balance on a loan in the event you passed on. This allows you to not pass debt to your heirs that would come out of the estate proceeds. In the event you are on medically sanctioned disability you may not have enough left in your monthly budget to pay existing loans. Payment protection coverage will kick in and make those payments for you so an injury or illness doesn’t turn into financial trouble.