Loan Products

First Choice FCU offers a wide variety of loan products and services. These not only give you standard tools to help you meet your financial needs, but also give you added tools and service to help you meet all of your current and future goals.

Below, you will find a brief explanation of some of the loan products that help people in and around New Castle, Neshannock and Ellwood City get the most out of our credit union. If you ever have questions, or need more help, please call us at (724)652-8393 or contact First Choice FCU of New Castle today.

Share Secured Loans

Are you looking for the fastest and cheapest way to borrow money? Look no further. Fully Secured Share Loans allow you to borrow up to the balance in your accounts with the credit union. Those funds are pledged and transferred into a Loan Collateral Account. Not only do they earn interest, but the best part is that they also stay your funds. At the end of the loan your savings is still intact. This allows you the buying power of any of our lending products, but does not deplete your savings. As loans are paid down the difference in your savings account can be made available to you. This is still a credit decision, so an application is required, but the decision process is faster and easier considering you are borrowing off of your savings. This is not a “second chance” loan, this is a loan for Savers!

Vehicle Loans

These are New and “New to you” vehicle loans. We determine the rate by the manufacture year, length or term of the loan, and by the borrower’s personal credit rating. Rates are rock bottom and are geared to save our members money. Pre-approvals are offered to make your shopping experience as painless as possible. We would love to put you in your next car… and the one after that… and the one after that.

Personal Loans / Board Specials

These are unsecured credit based products. As there is no collateral for these loans, the rates tend to be a little higher. To counter this, in the best interest of our members, we have created two Board Special Loans. These loans have a fixed term, borrowing amount, and lower rate than the Personal Loan rate. The application of these loans are practically unlimited… vacations, minor home repair, orthodontics, anything you can imagine, this loan may be the solution for you.

Home Equity Loans

You can use the equity in your home in order to borrow against it to take care of bigger ticket items. In many cases, interest from a Home Equity Loan can be taken as a tax deduction. Consult your tax preparer for more details. Members pay the costs of the Title Search, Appraisal, Filing Costs, etc. These services vary by County, so we would need to quote them at the time of application. There is no upcharge on any of these costs, exactly what is charged to the credit union is incurred to the member regardless if the application is approved or declined. If approved the costs can be rolled into the loan. If you have a lending need, why not put your biggest asset to work for you? A Home Equity Loan may be the right solution for you. If you have questions, please call our offices at (724)652-8393 so we can discuss this solution with you.