Month: August, 2018

Do you use the Mobile App? Check this out!

Tuesday, August 28, 2018

What is mobile remote deposit capture (MRDC), or mobile deposit?

With MRDC, a customer deposits a check by providing a check image; customers make deposits by taking pictures of a check’s front and back with a smartphone and sending the images to the bank through a mobile banking application or online banking service. Customers do not need to deposit the physical check in this arrangement.

When depositing your check on our Mobile Deposit Capture make sure you are following our guidelines, otherwise it will NOT get deposited! When taking a picture make sure you sign your name and put "For Remote Deposit Only" under it. Take picture before 1:30PM on a Business Day to be deposited in your account that day! When depositing on weekends your money will be deposited the next Business Day!

 

Due to new regulations, "For Remote Deposit Only" is required on the back of all checks that are deposited through the mobile banking applicaiton. 

mobile banking requirements

Back to School Loan - We have you covered!

Thursday, August 2, 2018

It’s that time of year again! Are you ready for the tuition fees, school clothing, sports equipment, and the seemingly endless amount of school essentials? Don’t worry; we have a solution to make things easier, and you can save money too! Our Back-to-School Loan has a low-rate, so that you can afford everything your family needs to start the school year! 

back to school loan

A Home Ready Mortgage - Click here for more information!

Wednesday, August 1, 2018

Mortgage Loan

First Mortgage Loans

  • Competitive rates available
  • Payment terms up to 180 months available
  • Ability to borrow up to 80% of the appraised value or 100% of the tax assessed value
  • Subject to lender approval and based on owner occupied properties, 1-4 unit properties, lender minimum credit scores, and meet lender underwriting guidelines

Home Improvement Loans

Ready. Set. Improve.
Whether your project is large or small, we can help you find the financing option right for you.

Home Equity Lines of Credit

  • Competitive fixed and variable rates
  • Flexible terms
  • Financing up to 80% of the appraised value or 100% of the tax assessed value
  • Interest may/may not be tax deductible (see tax advisor for details)

CU Mortgage Direct

To offer our membership even more mortgage options, we also partner with CU Mortgage Direct to offer secondary market lending. CU Mortgage Direct LLC (NMLS#198895) is committed to helping you find the right mortgage loan for your needs. We understand that every borrower is different, and we offer a variety of products to meet your individual requirements. We make the process of getting a mortgage simple by offering you the latest in financial tools and experienced professionals that allow you to make sound mortgage choices.

  • Conventional - The most popular loan program offering fixed payments.
    • Term: 30, 20, 15, 10 year fixed rate options
    • No prepayment penalty
    • Maximum amount: $417,000
  • FHA Fixed Rate - HUD insured home mortgage program that offers low down payments as well as reduced monthly mortgage insurance payments.
    • Term: 30 years
    • Maximum amount: $417,000
  • VA Fixed Rate - Program available for eligible Veterans. This program allows for no down payment and no mortgage insurance. Certain guidelines apply.
    • Term: 30 years
    • Maximum amount: $417,000
  • Rural Development (RD)/USDA - Program allows the buyer of rural property the opportunity for zero down payment and no mortgage insurance. Income and property guidelines apply. This program can be used with the first time homebuyer program to get the lowers possible interest rate.
    • Term: 30 years
  • South Dakota Housing Development Authority (SDHDA) - South Dakota's first time home buyer program. This program can be used in conjunction with Conventional, FHA, VA, or RD/USDA program guidelines. This can be used for existing homes as well as new construction homes.
    • Term: 30 years
    • Maximum Amount: $204,432