Once your ministry is prequalified, we’ll need you to complete an application package. Besides the Credit Union’s application forms, we’ll need some other documents. This may include:

• Documents to help clear up any questions that came up during prequalification
• Entity documents (which may include documents establishing your ministry)
• Bank statements
• Purchase or project documentation

Your Ministry Development Officer at the Credit Union will create an underwriting package for the credit department. That is, they’ll put together the documents that show your ministry’s financial health.

Once your ministry’s loan is approved, we’ll send a Letter of Commitment. That letter will have the rates, terms, and conditions that are needed to close the loan. If your ministry accepts the terms and conditions, you’ll need to sign the Letter of Commitment and send it back along with a small commitment fee. Then, our processors will make sure that conditions have been cleared, and we’ll fund the loan.  You can learn more about this process here.