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| ULCU Credit Committee, Paul Post Roofers Local 20, Damon Miles Laborers' Local 264, Adam Hansen SMART Local 2, Tim Bell, Chairman - Director, Laborers' District Council, Joey Flickner - IUPAT District Council 3 |
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| Early each Wednesday morning, five dedicated volunteers meet at United Labor Credit Union to review loan applications submitted from members hoping to purchase an automobile, pay off debt, make home repairs, buy a recreational vehicle or go on vacation, finance a wedding or college … the list goes on.
The everyday motto for these union leaders at ULCU is, “That’s why we’re here.”
Officially, the National Association of Federally-Insured Credit Unions (NAFCU) Article VIII, states that the credit committee duty is to review and approve all loans. This includes reviewing each application, determining the member’s ability to repay the loan and establishing the appropriate security for the loan, if necessary.
The importance of the credit committee at United Labor is that it’s never a computer making very human decisions regarding your borrowing power. Indeed, that’s why they’re here, and that’s how ULCU approved 91.3 percent of all loan applications that passed across the board room table last year.
Opposite other financial institutions, ULCU is determined to find ways to approve loans, not automatically deny credit based on a single criteria.
The phrase, “that’s why we’re here” doesn’t just apply to ULCU’s credit committee, however. The credit union remains steadfast in its mission to provide sound and secure financial programs and services to all Union members, their families and retires from any craft. More information about the credit committee cn be found by calling (816) 313-2848, or visiting About Us.
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