1. What is the loan policy?

  2. What is the share draft policy?

  3. What is the Visa card policy?

  4. May a member consolidate a loan or carry more than one loan?

  5. Are members insured?


The rules, policies, or regulations may be changed at any time by action of the Board
or amendments to the Credit Union Act and By-Laws.



What is the loan policy?

•  All applications for loans must be approved by the Credit Committee. Each loan application is
evaluated on the merits of purpose and member's employment record, ability to repay loan and
any other information needed to establish a credit rating. Credit ratings are checked through the
Pittsburgh Credit Bureau.

•  Although no member is guaranteed his application for a loan will be approved, the Credit
Committee uses current loan schedules as a guide in approving the loan application. Current
loan schedules are available at the SDCU office or mailed by request rather than quoting rates
that are subject to change.

•  The standard procedure for loan repayment is payroll deduction, direct deposit, automatic
withdrawal, cash or check for any member of the Credit Union. A loan can be paid off at any
time without penalty.

•  Auto loans are financed with the Credit Union holding the title. New title vehicles may be
financed up to 60 months. Used cars also up to 60 months. See Loan Guide for rates. The
Credit Union office has new and used car pricing guides.

•  When co-makers are required, the co-maker must be a spouse or borrower's parent or a
current SDCU member in good standing and acceptable to the Credit Committee. This co-maker
must sign the loan note and be financially responsible if the maker becomes delinquent.

Share draft policy?

•  Any members in good standing may have a draft account.

•  No monthly fee if you have a loan or maintain a balance of $250.00 in either the draft
account or the regular share account. Otherwise there is a $5.00 per month service fee.

•  There will be N.S.F. fees, Stop Payment fees, Draft Copy fees, and some other special
request fees.

•  Checks may be purchased through the Credit Union.

•  The MAC ATM card is accepted anywhere the MAC logo is displayed. Machine
or Point of Sale.

Visa Policy?

•  Visa card applications are reviewed like loan applications and approved accordingly.

•  Maximum limit is $5,000.00.

May a member consolidate a loan or carry more than one loan?

•  A member may carry four loans (automobile new and used, secured loans, and
personal loans) at any time provided the total of all loans does not exceed $40,000.00.

Are members insured?

•  Disability and life insurance on loans can be purchased at additional cost.

•  Each member's savings account is insured by the National Credit Union Administration.
No one member may have more than $100,000.00 in his account.





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