FAQs
Frequently Asked Questions

These are some questions frequently asked by our members.

CONTENTS

1 Auto Loans 1.0 Can I get a loan with MCCU if I have bad credit? 1.0 Can you finance my company vehicles? 1.0 Does MCCU make auto loans to first time buyers? 1.0 If my spouse is out of town can I initiate a loan with a Power of Attorney? 1.0 What are the insurance requirements for a collateral loan? 2 Buying a Vehicle 2.0 How can I research pricing on the vehicle I would like to purchase? 2.0 What do I do if I have an insurance check made payable to MCCU on my vehicle for damages?

Auto Loans

Can I get a loan with MCCU if I have bad credit?

MCCU will make every effort to approve your loan. The credit union has a "second chance" financing option. In addition, sometimes a down payment or a qualified co-maker will assist you in getting approved. MCCU also partners with Balance Financial Fitness Program and you can obtain financial assistance at 1-888-456-2227 to help you get your finances back on track. [Back to Top]

Can you finance my company vehicles?

MCCU does offer Business Loans. Please contact a Financial Service Representative to get started on the application. We can also assist you in getting the vehicle titled in your business name. Don't forget to use one of our Preferred Dealers to purchase your company vehicles for the best pricing. [Back to Top]

Does MCCU make auto loans to first time buyers?

MCCU would be happy to finance your first car with verifiable income and a down payment or qualified co-maker. [Back to Top]

If my spouse is out of town can I initiate a loan with a Power of Attorney?

MCCU does not typically accept a Power of Attorney to incur new debt. MCCU does however close loans via Fed Ex, Fax and Email so in most cases we can reach the borrower without the need of a POA. [Back to Top]

What are the insurance requirements for a collateral loan?

You are required to keep full coverage insurance which includes liability, comprehensive and collision with deductibles of $1,000 or less. The lien holder should read: Members Choice Credit Union, P. O. Box 24883, Fort Worth, TX 76124. [Back to Top]

Buying a Vehicle

How can I research pricing on the vehicle I would like to purchase?

Go to the NADA/Pre-owned Vehicles tab on the home page, this will take you into NADA and you can determine the value of the vehicle of your choice. [Back to Top]

What do I do if I have an insurance check made payable to MCCU on my vehicle for damages?

If the repair work is complete, bring your invoice and the vehicle to any MCCU location. A representative can inspect your vehicle and the invoice and make the check payable to the repair shop. If the repairs are minor and you do not wish to complete the work, you may apply the entire insurance check to your loan balance.

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