RELATIONSHIP LOAN

The Relationship Loan Program was created as an emergency type loan for members who NEED the money, but have limited access to financing.  Instead of reviewing a credit rating or debt level, a person's relationship with Bayou City FCU will be reviewed as well as job longevity. This loan program does require direct deposit to your Bayou City FCU account. In reference to direct deposit, we require at least 60% of your gross paycheck to be electronically deposited.

If you are re-applying for this loan, there is no need to complete a new application. Once at least 10 calendar days have elapsed, please visit our loan department with your most recent check stub and updated reference sheet.

 General Guidelines*

	At least 6 months continuous employment with the same employer is required. Employment verification will be requested.
	Must be able to supply BCFCU with the latest paycheck stub.
	May NOT be delinquent or have previous negative activity on any loan or account with BCFCU or any other credit union.
	Must agree to repay the loan through payroll deduction or ACH payroll.
	Must wait 10 calendar days from payoff date to re-apply for this loan.
	A minimum of 3 months of direct deposit (60% of gross paycheck).

General Terms*

	Maximum loan amount of $2,000.
	Minimum loan amount of $300.
	Maximum amortization of 18 months if greater than $1,000, otherwise 12 months.
	Annual Percentage Rate of 18%**

*Other terms and conditions may apply.

**APR = Annual Percentage Rate.  Rates are subject to change.

Required Forms***

	Member Data Sheet (filled out at credit union at time of loan financing)
	Last Paycheck Stub
	Verification of employment (the loan officer must be able to verify).
	Completed Loan Application

***Other forms may be required.