Loan Policy and Rates

Pine Belt Federal Credit Union Loan Policy

The interest rate category is determined by information contained in the Credit Bureau Report. Credit ratings over seven years old and bankruptices over ten years old will not affect determination of the category. In case of joint applications, the interest rate will be determined using the information of the applicant based on the higher number of negative ratings in file. Categories and accompanying interest rates do not represent final approval of a loan request, but serve as a guide to determine the interest rate a member will be charged for a loan. The Credit Union's loan officers have the authority to approve or deny a member's loan request. Two loan officers must sign any loan denied by the Credit Union.

Category A: Credit Score 680 or Above.
Category B: Credit Score 640-679.
Category C: Credit Score 600-639.
Category D: Credit Score 550-599.
Category E: Credit Score Below 550.

*A negative credit rating is defined as creditor's rating on any credit file account, opened or closed with collections, a charged off account, a judgement, suits, tax lien, repossession, or bankruptcy.

Call or come by one of our offices for a quote or to discuss your need.

Hattiesburg 601-583-3242; New Augusta 601-964-8575.

Interest rates are reduced by 0.50% for most loans if direct deposit received.