Applying for a Loan

To apply for a loan a  member must have a primary savings open. You can apply at our office or request a contact or application online, through the mail, by telephone or fax. Once your credit application has been established, loans are approved quickly. On occasion, the loan officer may request additional information and in that case the processing of a loan may take longer. Members may call the credit union at 920-725-2191 or toll free 877-725-2191 to obtain information.

Express Lending

NFCU had adopted Express Lending to make borrowing money more convenient. In most cases the Express Lending Plan allows members to have quicker access to funds by eliminating the need to make an appointment to sign loan documents. All loan types, with the exception of real estate, mobile home, and credit card loans, are covered by our Express Lending Plan. By signing your plan today, you will be prepared to fulfill your lending needs efficiently in the future.

Interest Calculation

NFCU members have an interest calculations advantage. We offer the opportunity to save money on finance charges. When borrowing from the credit union, it's like borrowing on a day-to-day basis. The interest factor is based on the principal balance and calculated from the last payment. When the next payment is made the accumulated interest is paid and the principal balance decreased. The new interest factor is based on the lowered balance. So, if paid weekly, semi monthly, or if larger than required payments are made, you save money on interest charges.

Payroll Deduction

Automatic deductions for installment payments or other accounts are available through most companies today. This is not only a very convenient method of payment, but it can, over the course of the loan, save on interest charges.

Loan Benefits

Loan Protection Insurance

NFCU offers a number of insurance products to protect you. Credit Life and Disability Insurance can be purchased for the primary and secondary borrowers on a loan. The Credit Insurance will pay on your loan balance if something should happen. Contact NFCU for more information and current rates.

Credit Disability Insurance

Credit Disability insurance is available to employed borrowers and co-borrowers who wish to purchase loan payment protection if you are off work for a medical reason. You must be are under a doctor's care and unable to perform your work duties for 14 consecutive days to file a claim.  Once your claim is approved the insurance will make loan payments from the 15th day of the disability until the day you return to work.  The insurance is billed to the loan balance monthly according to the balance. Contact NFCU for more information on this coverage offered by CUNA Mutual Insurance.

Mechanical Repair Coverage and 
Guaranteed Asset Protection

Mechanical Repair Coverage (MRC) is a great way to protect yourself against untimely vehicle repair costs. We offer three levels of coverage and three deductible options from Member's Choice Insurance through CUNA Mutual.  MRC can be taken at time of purchase or with a minimum of one month and 1,000
miles remaining on the manufactures warranty.

Guaranteed Asset Protection (GAP) protects your investment if your vehicle, boat, motorcycle, or RV is stolen or totaled in a major accident. GAP covers the difference between your primary carrier's insurance settlement and the amount of your loan, or lease, less delinquent payments. The GAP price through NFCU has consistently been a better value than dealer policies. Call or stop in to compare our great GAP rate or have a loan officer show you the "gap" between your vehicle's value and your loan balance.

Even if you are not financing your vehicle through NFCU, you can select  MRC or GAP  through the credit union at the time of your purchase.

Consumer Loan Information

Used car cost guides - Quotes for motorcycles, campers, trailers, boats, motors, boat trailers are available from NADA. Visit or phone our office for more information.

Approval of applications will be consistent with the current loan policies of the credit union. 

Confidentiality 

The personal data given on your loan application and subsequent credit approval decisions are held in absolute confidence. Only you, your spouse, co-borrower, or co-signer can obtain information on your loan.

Special Consideration of Your Needs

When personal hardship occurs, contact us and we will make every effort to work out a mutually agreeable repayment schedule. NFCU only asks that we be treated as fairly as other creditors. Please keep the lines of communication open.

Your Credit

You can use the TransUnion website if you find that there are discrepancies on your credit report and want to find out more information by ordering a report or disputing an error. Just follow the instructions given. We want to help you maintain your credit and reporting the correct information is our first priority.

Available at NFCU

How to Dispute Credit Report Errors

This leaflet gives you all the information you need to dispute incorrect information on your credit report. It also includes a request form for your annual credit report. 

Loan Terminology

Unsecured Loan or Signature Loan - Money is loaned on an individual's signature only.

Line of Credit - A maximum limit is approved and advances can be taken in minimum $100 draws up to the set limit. As payments are made, the available credit remains usable.

Overdraft Line of Protection - Same as the Line of Credit, except that if your checking becomes overdrawn, the ODLOP will automatically cover your check to save you the subsequent fees from the remitter for the returned check. It will also draw up to the pre-approved limit. When an advance is made there is a fee charged to the share draft account.

Secured Loan Any loan supported by collateral, such as liens against vehicles, motor cycles, motor homes, boats-motors-trailers, new purchase of household goods, etc.

Share Secured Loan Loans backed by a member's savings account in the credit union, such as shares or CDs (except IRA account). This enables the member to borrow at a preferred rate of interest and still receive dividends on their savings.

Mortgage or Home Equity Loans When shopping for a mortgage or home equity loan, we urge you to check our rates and terms. You'll find we compare favorably with the competition. There are various options and programs available most of which we service within the credit union. You can make payments  weekly, semi-monthly or monthly. We welcome the opportunity to answer your questions and to provide the financial information you need.

Annual Percentage Rate At NFCU you pay simple interest. This means interest is paid on the unpaid balance of the loan for the number of days between payments.

Prepayment Privilege There is normally no penalty for paying the loan ahead of the pre-arranged terms. The only exception is if the total interest paid back is less than $7.50

Payment Methods  Loan payments may be by payroll deduction, transfer from savings or checking with NFCU, ACH from an outside source, or you may elect to make the payment directly. Loan payment coupons are available for the borrower making direct payments.

Top of Page

By clicking the above related links you will be leaving the Neenah Foundry Credit Union's web site. The links are meant for entertainment and education and do not constitute an endorsement of any kind. The Credit Union has no control over the content offered by these sites. Furthermore, the privacy policy of the linked sites may differ from those of NFCU. Thank you.