Loans

After three (3) months of membership character loans may be extended to qualified applicants. Loans are up to 1.75 times shares, but not exceeding a maximum limit of $200,000 above the share balance. There is no limit for loans within shares. The interest rate is 1% per month on the reducing balance.

When you take a loan from Palo Seco CU, you can borrow up to $500,000 over 7 years for new vehicles, $300,000 over 5 years for a second hand local vehicle, $300,000 over 5 years for taxi drivers and up to $300,000 for foreign used vehicles. Get on the road with Palo Seco Credit Union. 

1) For Mortgage Loans we lend up to five (5) times your share holding up to a maximum of $1,500,000 with repayment up to 25 years. 
2) On a second mortgage, we lend up to three (3) times your share holding for a maximum of $500,000 with repayment up to 15 years.