OFCU LOANS

You may request application forms for any of our loans through our E-mail or by applying online by clicking here..

At some point in our lives, we all need a loan to obtain the things we really need--or really want. When that time comes for you, Otero Federal Credit Union can help. We have the resources to finance some of life's most important purchases. Whether you need financing for your dream home, a well-deserved vacation, a college education, or life's little emergencies, Otero Federal Credit Union has a loan option that will work for you.

Credit Life and Disability Insurance
Additionally, OFCU offers its members Credit Life and Disability Insurance on any type of loan including our credit cards. Credit Life Insurance would payoff your loan in the event you or the co-maker passed away, so your family would not have to worry about taking care of the debt. Disability Insurance will make your loan payments for you (coverage for primary only on loan) if you were out of work due to health problems. Premiums are calculated monthly and decrease as the loan is paid down. OFCU thinks this is a great way to protect yourself and your loved ones from potential loss.

Guaranteed Asset Protection
Another form of protection offered for our members is Guaranteed Asset Protection or GAP. GAP protects your loan in case your vehicle is totaled or stolen. If you owe more than your insurance company's cash value determination for the totaled vehicle, GAP coverage pays off the potential deficiency balance left on the loan with OFCU. This gives you the freedom to start looking for a new car without the worry of how to come up with enough money to payoff the leftover balance from the totaled car loan any longer. GAP is offered on various secured loans from your vehicle, travel trailer, ATV and more with a low one time fee as low as $150.00 to protect the life of the loan. See a loan officer today for more details.

Major Mechanical Protection
Lastly, OFCU offers Major Mechanical Protection or MMP. MMP protects you against costly vehicle repairs. This vehicle Mechanical Protection Plan is underwritten through National Auto Care which allows you to go to an ASE certified mechanic to get your vehicle repairs when needed and be on the road in no time. MMP has various degrees of coverage from just the basic engine repairs to extensive coverage similar to a "bumper to bumper" warranty through a dealership. All options come with emergency roadside assistance and are transferable to a new owner if you sold the vehicle. This product is offered on new or used vehicle and can be purchased for a vehicle you already own. See a loan officer today for more details.

Our loans feature competitive interest rates, reasonable repayment terms, and added options such as payroll deduction, and credit life and credit disability insurance.

Visit our Loan Rates & Terms page for additional information on these loans. You may also request information on other types of loans OFCU has to offer by visiting our E-mail page.




Federally insured by NCUA		 EHL   
EQUAL HOUSING
LENDER		 100000

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