Lending Money…Responsibly!

We hope you have heard or seen the phrase Lending Money…Responsibly in some of our marketing materials so we’d like to take a minute and explain what it means.

The mission of the Lisbon Credit Union is to improve the financial well-being of all Members. In fact, our lending philosophy is centered on our ability to lend money responsibly. It is important to recognize that when an application is reviewed, our Loan Officers always have the Member’s financial well-being in mind. It is not in our best interest to approve a Member for loan with a monthly payment they cannot afford. In our experience, lending money responsibly means doing our best to help Members build a secure financial future.

As we lend money responsibly, we also lend money fairly. The Credit Union is proud to offer ALL Members the same rate on loans. When underwriting a loan, we look at the entire picture and no just your credit score. This lending practice truly makes us unique among area competitors.

Building Futures. Preserving Dreams.

Everyone Gets the Same Rate

When you look around at most financial institutions, you’ll notice the short phrase “as low as” before their loan rates. Most of the time, they appear on advertisements or marketing materials. This phrase indicated that these institutions use what’s called risk-based pricing. In a nutshell, risk-based pricing means that the rate you qualify for is directly affected by your credit score. If your credit score is very high, you may be able to qualify for that very low rate that was advertised. If your credit score is moderate or fairly low, you will qualify for a much higher rate.

This is an area that makes the Lisbon Credit Union different and unique. We do not participate in risk-based pricing and feel it’s very important that all Members get the same rate. If we advertise a 4.00% rate for a new vehicle loan and you’re an approved borrower, you’ll get that 4.00% rate. As loans are approved by our Loan Officers, they do consider your credit score; however, it’s just a small part of the approval process. We recognize that some Members may have gone through some rough patches in their lives such as layoffs or divorces. These other factors are also considered.

So, when we advertise that everyone gets the same low loan rate at the Lisbon Credit Union, you’ll know that we mean it. We feel it’s the best option for our Members. Feel free to visit www.lisboncu.org for more information.

Building Futures. Preserving Dreams.