Loans Lincoln SDA CU Offers

  • Auto Loans
  • Personal Loans
  • Share Secured Loans
  • VISA Credit Card
  • Home Equity Line of Credit
  • Home Mortgage
  • Student Line of Credit

Member Services

If you are not a member of Lincoln SDA Credit Union, and you are a member of the Seventh-day Adventist Church, complete this form to apply for membership.

New Account Card

Loan Application

To apply for a fixed term loan fill out the following Loan Application. If you are making a Joint Application with a spouse or cosigner the second individual will need to fill out the Joint Signer form.

Loan Application
Loan Application – Joint Signer

Credit Card Application

To apply for revolving credit fill out the following Loan Application. If you are making a Joint Application with a spouse or cosigner the second individual will need to fill out the Joint Signer form.

Loan Application – Visa Credit Card
Loan Application – VISA Credit Card – Joint Signer

Definitions

Collateral: When a financial institution gives a secured loan, it wants to make sure it will get its money back. That is why a lender (SDA) usually requires a second source of repayment called collateral. Collateral is personal asset that can be sold in the event the member can no longer make payments on the loan. Examples of collateral may include your house or automobile.

Cosign: The act of signing for another person’s debt which involves a legal obligation made by the cosigner to make payment on the other person’s debt should that person default. Having a cosigner is way for individuals with a low income or poor/limited credit history to obtain financing.

Beware of the Risk!

Want to keep – or build – a great credit score? Think twice before co-signing for a loan. When you co-sign a loan, you’re essentially giving someone else access to your credit-worthiness and you’re doing so by agreeing to cover the principle – as if it were your loan all along!

“If someone asks you to co-sign for a loan it’s likely because a bank has denied their credit application,” says credit expert John Ulzheimer. “Asking for a co-signer is their way of making the bank more comfortable because they’ll now have someone who is actually creditworthy on the hook for payment. You co-signing for a loan is really no different than you applying for the loan on your own. Not only will the debt show up on your credit reports but any mismanagement of the account will also blow back on your credit scores.”

Don’t take lightly the decision to co-sign on a loan, because the risks to you, your bank account and your credit are really high!