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Criteria for New Car Loans
Criteria for Used Car Loans
Criteria for Signature Loans
Loan Calculator
Apply For a Loan

CRITERIA FOR NEW CAR LOANS
($15,000-$50,000)
Effective March 01, 2009

Class	Requirements	Percentage	Term	% Down
A	Debt Ratio < or = 15.99% No Public Records No Past Due Accounts Bankruptcy Over 10Years Old (From Date of Discharge)	4%	1-6 Years	5%
B	Debt Ratio 16% to 19.99% No Public Records Some (1 or 2) 30 Day Past Due Bankruptcy 7 to 10 Years Old (From Date of Discharge)	5%	1-6 Years	5%
C	Debt Ratio 20% to 24.99% Public Records Some (3 or 4) 30 Day Past Due Some (1 or 2) 60 Day Past Due Bankruptcy 3 to 6.99 Years Old (From Date of Discharge)	6%	1-6 Years	10%
D	Debt Ratio 25% to 29.99% Some (3 or 4) 90 Day Past Due Bankruptcy 2 to 2.99 Years Old (From Date of Discharge) Need Board Approval	8%	1-6 Years	15%
E	Debt Ratio > or = 30% Bankruptcy 0 to 1.99 Years Old (From Date of Discharge) Need Board Approval	10%	1-6 Years	20%

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CRITERIA FOR USED CAR LOANS
($15,000-$40,000)
Effective March 01, 2009

Class	Requirements	Percentage	Term	% Down
A	Debt Ratio < or = 15.99% No Public Records No Past Due Accounts Bankruptcy Over 10Years Old (From Date of Discharge)	5.9%	1-5 Years	Loan value
B	Debt Ratio 16% to 19.99% No Public Records Some (1 or 2) 30 Day Past Due Bankruptcy 7 to 10 Years Old (From Date of Discharge)	6.9%	1-5 Years	Loan value
C	Debt Ratio 20% to 24.99% Public Records Some (3 or 4) 30 Day Past Due Some (1 or 2) 60 Day Past Due Bankruptcy 3 to 6.99 Years Old (From Date of Discharge)	7.9%	1-4 Years	Loan value
D	Debt Ratio 25% to 29.99% Some (3 or 4) 90 Day Past Due Bankruptcy 2 to 2.99 Years Old (From Date of Discharge) Need Board Approval	9.9%	1-4 Years	Loan value
E	Debt Ratio > or = 30% Bankruptcy 0 to 1.99 Years Old (From Date of Discharge) Need Board Approval	15%	1-4 Years	Loan value

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CRITERIA FOR SIGNATURE LOANS
Effective March 01, 2009

Class	Requirements	Percentage
A	Debt Ratio < or = 15.99% No Public Records No Past Due Accounts Bankruptcy Over 10 Years Old (From Date of Discharge)	5%
B	Debt Ratio 16% to 19.99% No Public Records Some (1 or 2) 30 Day Past Due Bankruptcy 7 to 10 Years Old (From Date of Discharge)	6%
C	Debt Ratio 20% to 24.99% Public Records Some (3 or 4) 30 Day Past Due Some (1 or 2) 60 Day Past Due Bankruptcy 3 to 6.00 Years Old (From Date of Discharge)	7%
D	Debt Ratio 25% to 29.99% Bankruptcy 2 to 2.99 Years Old (From Date of Discharge) Need Board Approval	10%
E	Debt Ratio > or = 30% Bankruptcy 0 to 1.99 Years Old (From Date of Discharge) Need Board Approval	15%

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LOAN CALCULATOR

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APPLY FOR A LOAN

Print out the from, fill it in, and bring it to the office at 1350 Port of New Orleans Place, New Orleans, LA 70130, room #115 no later than 12:00 noon on Tuesday. The Credit Committee meets every Wednesday at 10:00 a.m.

Loan Application Form (.pdf)

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