Loans & guarantors
Applications, appraisal, decisions and recovery.
- Create a loan application for a member Start an application on a member's behalf, with a live quote, eligibility check and guarantors. TreasurerCredit committee
- How the borrowing limit is calculated A member's ceiling is their qualifying deposits times the loan multiplier, less what they already owe or guarantee. Any officer
- Request and record guarantors Guarantors pledge part of their own deposits. Requests go by SMS and email; paper acceptances can be recorded. Credit committee
- Appraise a loan as the credit committee Run the appraisal checks on an application and record your recommendation. Credit committee
- Approve or decline a loan Record your decision; a loan is approved once your bye-laws' number of approvals is reached. Credit committee
- Disburse an approved loan Pay out an approved loan to the member's account, with fees deducted as quoted. Treasurer
- Record a repayment Apply a repayment to a loan; it's split into interest and principal on the member's statement. TreasurerTeller
- Restructure or write off a loan Change a struggling loan's schedule, or write it off by board decision. Credit committeeBoard