Address

2901 Grand Avenue
Butte, Montana 59701

Lobby Hours

9:00am – 4:00pm (Mon-Fri)

Phone Number

(406) 723-8284 

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Loans

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First Mortgage Application

Quick Cash Loans

A Quick Cash Loan is one that a member can get as an alternative to taking his/her money out of a share savings account. The amount the member has in his/her share account is the maximum amount that he/she may borrow. 

The money in the account that is borrowed upon is “Frozen” from withdrawal until the loan is paid off, but it is still earning dividends at the current rate in the account. 

Advantages of this Loan

  • The Credit Union charges their lowest interest rate on this loan.
  • The cost to you is the “Lowest Interest Rate” available.
    You keep your “Hard-earned” savings to continue earning dividends for a “Rainy Day”.
  • A “Quick Cash Loan” is a completely separate loan from any other loans you may have at the Credit Union.
    Best of all you “Pay Yourself Back” instead of having to start from “scratch” once again.
  • To find out the current Interest Rates available, please contact the Credit Union between the hours of 8:00 A.M. and 5:00 P.M. Mondays through Fridays, at 406-723-8284.
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Home Equity Loans

“Home Equity Loans” Home Equity loans are pre-established lines of credit. They will be a fixed rate loan secured by a mortgage on a personal residence already belonging to the member. A loan limit will be determined by the member’s equity in his/her property or $150,000.00, whichever is less.

This line of credit will be determined per the following example:

Appraised Value (Actual Value of Home and Property) $90,0000.00 x 80% = $72,000.00, less Outstanding 1st Mortgage of $40,000.00 = Equity Available for Loan Consideration of $32,000.00

A minimum pre-established line of credit of $5,000.00 must by attained by the borrower in order to qualify for a “Home Equity Loan”.

Only principal dwellings built or set on permanent foundations shall qualify for home equity loan consideration. We will not make loans on just land used as security. It is anticipated that it will take approximately two (2) weeks to process a Home Equity Loan from start to finish.

Check with your Credit Union today and see if you may qualify for a “Home Equity Loan”.

Home Equity Minimum Payment Requirements

The length of the draw period is five (5) years. The monthly minimum payment and length of the repayment period will be determined after each advance is made. At that time, the payment will increase depending on the amount of the new unpaid principal balance. The minimum payment will be based on the remaining term of the loan. No minimum payment will be less than $100.00 per month.

Your minimum monthly payment will be first applied, late charges and other charges, and then to finance charges with the balance applied to reduction of the outstanding principal. Your minimum monthly payment will never be less than $100.00 or the full amount you owe.

Home Equity Fees and Charges

Effective February 20, 2007 the credit union will pay for appriasials and the member will be responsible for the title insurance fee, the filing fees and the credit report fee.

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