Loans

Pegasus Credit Union offers financing for a wide variety of loan products. We can finance new or used vehicles, recreational vehicles, motorcycles, airplanes, tractors or even a simple signature loan. Our loan rates are competitively priced with a variety of financing terms.

When planning to finance a large ticket item such as a new vehicle, members are encouraged to first visit one of our offices to obtain loan pre-approval. Thus avoiding many of the hassles and high-pressure sales tactics used by sales people.

Members may download and print a loan application in the comfort and convenience of your home or office. Any assistance or questions please call to talk to any of our knowledgeable loan officers.

Mortgage Loans

The credit union does not process real estate loans in-house, but applications are referred to CU Members Mortgage. Servicing of all CU Member real estate loans remains with CU Member Mortgage regardless of who finances the loan. Pegasus Credit Union has the option to purchase the loan depending upon the financial market at the time. The credit union has had a long relationship with CU Member’s mortgage and encourages our members to consider their services.

Home Equity & Home Improvement Loans

The credit union offers both home equity and home improvement loans. Loan rates and terms are based on the applicant’s credit score and other elements of credit worthiness. Please contact the credit union for a loan application.

Additional Loan Products:

GAP Insurance

The credit union offers “GAP” insurance to our members at a very affordable and competitive cost. In today’s market we often see individuals buy new vehicles with very little down payment. They also add warranty premiums to the auto loan. Given the vehicle’s rapid depreciation and the cost of the warranty plans, most drive away from the dealer in a vehicle that is suddenly worth less than their loan balance.

Usually this causes no problem, as monthly payments slowly bring value and loan balance closer together. However, if the vehicle is damaged beyond repair in a wreck (totaled) early in the life of the loan, or the vehicle is stolen, the consequences to the owner can be adverse. That’s because the insurance company’s settlement will be based on the value of the car at the time of loss. That settlement will not be enough to payoff the loan balance, yet the borrower will still be responsible for paying the loan balance.

That is where GAP insurance can help. It can pay that difference for the member. Pegasus Credit Union recommends this coverage for members who are unable or unwilling to take the risk described above. When you get financing directly from Pegasus, you are able to obtain the coverage at a cost that is most often, well below the cost from other providers.

Extended Vehicle Warranty

Pegasus Credit Union, through an arrangement with American Service Group, is able to offer an Extended Vehicle Warranty program at a very competitive price.

Click here for additional information. Call a loan officer or come by the Elm street office for complete pricing details.