OTHER LOANS

We have a variety of loans to suit every borrowing need:

Share Savings Secured/Certificate Secured Loans
These loans allow members to borrow funds while using their own savings or certificate as collateral. That means members can continue to earn dividends on their savings or certificate, and they will pay a minimal interest rate on this secured loan. These loans require minimal credit approval criteria, and the repayment terms are very flexible. This loan can also be beneficial to members trying to establish or rebuild credit.

Credit Rebulider Loan
Bad things happen to good people! In the past couple of years, more than ever before, we've seen members suffer foreclosures, reposessions, bankruptcies, and job loss. All of these life events can have a severe impact on your financial situation and credit. As your financial partner, we will help you rebuild your credit to meet your financial goals.

Credit Score Enhancement: Knowing your credit score is important in repairing it.  This is the first step in rebuilding.

Signature Loan Product:

• Minimum loan amount of $500
• Loan Rates and Terms:
  • $500 (6 months or less) at 17.99%
  • $600-$1,500 (12 months or less) at 15.99%

Auto Loan Product:

• Loan amount cannot exceed $10,000
• Term cannot exceed 5 years
• Rate will be based on your credit score

Computer Loan

As part of UD's technology-enhanced learning environment and student notebook computer initiative, you are required to have a notebook computer that meets certain hardware and software requirements. Students entering in fall 2009 may purchase a UD-ready computer through HP or bring their own notebook computer — as long as it meets the minimum requirements for the University's network and your major. For more information about computer requirements click here.

Day Air offers a special loan for members to purchase a new computer or related equipment. We know how expensive technology can be and we make it not only possible, but also reasonable to own state of the art technology.

Directions for Applying:

• Click "Apply Now" Button
• Choose Co-Borrower (Individual if applying on your own)
• Borrower SSN (Student)
• Co-Borrower SSN (Parent)
• Loan Type: Select Unsecured
• Purpose of Loan: Select Computer/Appliance/Furniture
• Fill in Loan Amount

Signature Loan
This loan is unsecured and can be used for many purposes. They are available with various terms and easy monthly payments. Payments can be made with a variety of repayment methods. Signature loans may be granted for:

• Car Repairs
• Holiday Expenses
• Back-to-School
• Income Taxes, and more

StretchPay Loan
Many of us have felt the “pinch” when in between paychecks. With many short-term lending options available today, we felt we should enter the market and satisfy this need for our members, and do it much more economically!

This loan has been designed for established members* who need a small dollar loan to carry them over until receiving their next regularly scheduled income check. Details include:

• $35 or $50 annual participation fee*
• $250 or $500 initial credit limit*
• 30 day repayment term
•  Advances must be paid in full prior to new/additional advances

We’re here to help and we want to assist you in improving your financial condition so that pinch isn’t so hard the next time. Contact us for more details on our StretchPay loan anytime!

*Must be a Day Air member in good standing for a minimum of 120 days with no derogatory checking account history/activity during the past 12 months. Member must be in good standing at the time the loan is applied for and each time an advance is made. Member must be employed by the same employer for a 6-month period, or be receiving verifiable fixed income, must provide proof of income, and time on job at the time of application. Members must have at least 12 months of productive use of the $250 credit line before being considered for the higher line of $500.  We also require 10% of the limit be taken from the initial advance and placed in a pledged savings account. The $35 or $50 annual participation fee is to be paid with the first advance each year.