Consumer Loans

Who We Are
Our Consumer Loans Department provides loans for almost anything, so long as it doesn’t pertain to real estate property. Consumer loans are approved for products such as automobiles, recreational vehicles, motor homes, campers, boats, motorcycles and computers. For rates, please click here. This is where we will keep you informed on our most current loan rates.

Fill out a Loan Advance Application Online

Frequently Asked Questions
Below is a list of frequently asked questions. Because this website is still under construction, a question listed may not have an answer linked to it.

My SIRFCU financed vehicle is fully insured. Why have I received a notice that if I don’t insure my vehicle that you would charge for your own insurance and/or apply penalty fees?

Usually this is a matter of miscommunication. As you know from the loan contract you signed into, your vehicle must be insured at all times so long as SIR Federal Credit Union has a lien on that vehicle. Furthermore, unless the vehicle is over seven (7) years old and the loan balance is under $3,000.00, the vehicle must be insured by a Full Coverage plan. If this vehicle is registered to your small business, you will need to apply with one our small business lenders and business funders for the loan. We work with several business funders including Merchant MCA, Elite Merchant Funding and Citiwide Capital. If the vehicle is over seven years old and has a loan balance of under $3,000.00, you are not required to have full coverage insurance on the vehicle, but it must still be insured. If you will be pursuing a storage insurance plan, please consult a loan officer before doing so.

It’s possible that you do in fact have your vehicle properly insured and you still received the letter in question. This means that we do not have proof of insurance. Most of the time we get this automatically from your insurance agent. If we haven’t, contact your insurance agent and they should be able to get it to us. What we require is some form of proof of the policy you have, what term it is valid for, what vehicle it insures and for whom the policy is for. Your deductibles for comprehensive and collision need to be $500.00 or less. It must list SIR Federal Credit Union as the first secured party and/or lienholder. If any of these items are missing from a proof of insurance that we receive, we cannot file them and must, in turn, send the aforementioned letter.

Please contact the telephone number listed on your letter if, after reading it, you are still uncertain how to proceed. We will work with you to resolve the problem.

Fill out a Loan Advance Application Online