Chattanooga First Federal Credit Union has money to lend for almost any purpose.
Signature or Unsecured Loans
Personal or unsecured loans are available up to $10,000, depending on your income and credit. This amount includes direct loans to you are loans which you guarantee or cosign. We also offer lines of credit that are pre-approved. All you have to do is pick up the check or cash.
The credit union is eager to lend money for the purchase of new and used vehicles. We have competitive rates and convenient terms up to 7 years on new vehicles and 5 years on used vehicles. We will finance up to 100% of the purchase price of a new vehicle and the NADA trade-in value on used vehicles.
Savings Secured Loans
You can borrow at reduced rates and still earn dividends by using your savings and certificates of deposit as collateral. The maximum loan amount is what you have in your savings and certificates of deposit that is not pledged or used as collateral on another loan. If you call the credit union ahead of time, your loan will be ready when you arrive.
Boat, Recreational Vehicles, Farm Equipment and Other Loans
As stated above, the credit union makes loans for many different purposes. We make new and used boat loans. We make loans for all types of recreational vehicles such as, but not limited to, travel trailers, motor homes, campers and jet skies. We also make farm equipment loans including tractors, bobcats, bulldozers and backhoes.
Real Estate Loans
First Mortgages The credit union makes residential mortgage loans up to 30 years secured by a perfected lien. Residential mortgages are family dwelling that will be used as the principle residence of the member borrower. We make loans up to 80% of the appraised value of the property. The credit union does not make construction loans.
Second Mortgages The credit union makes second mortgage loans up to 15 years secured by a perfected second lien.
Unimproved Property The credit union makes unimproved property loans up to 10 years secured by a perfected lien.
Student Loans with The Sallie Mae Smart Option Student Loan program.