Secured Loans

Image

Secured Loans

Vehicle Loans

We offer loans for new and used autos, boats, recreational vehicles (motor homes, travel trailers, motorcycles, all-terrain vehicles (ATV’s), snowmobiles, and personal watercraft. Vehicle loans with LTV greater than 100% require GAP insurance. Terms range from 36 to 84 months.  Terms greater than 60 months require a minimum loan balance of $20,000.

  • Minimum loan amount: $1,500
  • Maximum loan amount: $125,000
  • Maximum loan-to-value: 120%

Boat Loans

We offer consumer boat loans over 11ft. in length.  The collateral must include the vessel package in its entirety (boat, motor, trailer, accessories). Boat loans with LTV greater than 100% require GAP insurance. Terms range from 36-180 months.

  • Minimum Loan Amount: $1,500.00
  • Maximum Loan Amount: $500,000.00
  • Maximum Loan-to-value: 120%

ATV’s, Jet Skis, Motorcycles, Snowmobiles

We offer loans for all your Alaskan recreational activity needs! Recreational vehicles include motor homes and travel trailers, motorcycles, all-terrain vehicles, snowmobiles, and personal watercraft. Motor homes must not be greater than 20 years old. Maximum loan-to-value on motor homes is 80%. No exceptions will be made to motor home limits. New and used motor homes terms range from 60-180 months, and all other loan terms range from 24-60 months. *Sailboats, and aircrafts are excluded from ALPS financing.

  • Minimum Loan Amount: $1,500.00
  • Maximum Loan Amount: $125,000.00
  • Maximum Loan-to-value: 120%

Manufactured Homes

Manufactured homes include panelized, pre-cut, mobile, or tiny homes which do not sit on a permanent foundation. Manufactured homes may be located in commercial parks or other leased property. Lot rent must be included in the debt-to-income calculation.

  • Minimum Loan Amount: $1,500.00
  • Maximum Loan Amount > 20 years old: $60,000.00
  • Maximum Loan Amount < 20 years old: $125,000.00
  • Maximum Loan-to-value: 90%

Other Secured

The credit union will extend credit on other secured collateral not listed above. Other secured collateral includes automobiles, boats, recreational vehicles, and other collateral over 10 years old or collateral that otherwise does not qualify for financing under other credit union lending policies. Boats over 10 years old can often be an exception due to make an model.

  • Minimum Loan Amount: $1,500.00
  • Maximum Loan Amount: $10,000.00
  • Maximum Loan-to-value: 100%