Online Loan Application Process
Learn About The Online Application Process At North Island
While you do not have to be a member to apply for a loan, you will need to become a member once your loan is approved at North Island. It is easy to join. If you meet the criteria (you must live or work in San Diego, Orange, or Riverside County, or have a family member who already is a North Island Credit Union member), you can become a member today by filling out the Membership and New Account Application.
Information Needed To Process Your Loan
A representative will contact you to review in detail the information required to complete your request. In general, we will require verification of the income you stated on your application. For salary income, a copy of the most recent paystub and possibly the previous year W-2 may also be required. For self employed borrowers, two years tax returns and a current Profit and Loss Statement is required. The requirements will vary depending on the type of loan and additional information may be required by the Loan Officer.
Depending on when you apply, we may be able to return a decision to you the same day. A loan representative will contact you during our normal business hours with a loan decision or to obtain additional information if needed. You may also contact a loan representative at (800) 848-5654, option 1, Monday-Friday 8:00am-6:00pm and Saturday 9:00am-2:00pm PT.
Completing The Application
Complete signature(s) are required from all borrowers prior to the loan disbursement. We will deliver your documents via secure email or through regular mail. Most of the documents can be signed electronically or returned via fax or through regular mail. There are times, however, when you may need to go into a branch to complete the final paperwork. We will work with you to determine the most convenient option available to you when processing your loan.
Information For Auto Loans
The required DMV documents will vary depending on the type of auto loan (private party purchase vs. dealer or refinance).
There is no application fee to apply for a consumer loan.
Involvement With The Credit Bureau
By completing the application online, you agree to allow us to review your credit before we can make a loan decision. This will be recorded on your credit history as an inquiry, but should not have a negative effect on your credit rating.
On most products, we do accept applications with co-signers to strengthen an application if it lacks credit history or length of employment. Careful consideration should be given when applying to co-sign for a loan since the co-signer is responsible for making the payments in the event the loan is past due. Payment history will be reported to the credit reporting agencies for all borrowers including the co-signer. Also, the co-signer must also be eligible for membership within North Island Credit Union and be available to sign the required loan documents.