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Lending FAQs

Lending Frequently Asked Questions

Only members of L&N Federal Credit Union can apply for loans.
You can apply for a loan in several easy ways. You can apply online by clicking the link to Apply Now or you can fax an application to us at 502-361-2285. Or you can visit one of our branch locations or even mail an application to us.
We make every attempt to make decisions on loan applications in a timely manner. Although the approval process can take anywhere from an hour to several hours, we strive to provide you with a decision as soon as we possibly can.
The type of loan being applied for determines items required for loan processing. An application and verification of income are required for ALL loan types. For Auto Financing, we would need copies of pertinent documents like purchase orders, invoices, titles, insurance, etc. However, these items would not be necessary for Personal Loans or Credit Cards. For more information about what is required, contact our Loan Department at (800)292-2905 or (502) 368-5858.
We look at every application individually. We base our decisions on a member’s creditworthiness and their ability to repay the loan. However, each member situation is unique. That is why we offer many different loan programs for our members. We urge you to apply for the loan you are interested in and allow our Loan Professionals to determine which option is best for you.
If you are interested in knowing the value of your vehicle, or a vehicle you may be interested in purchasing, you can go to NADA online and input the information for your vehicle. You can also contact us at (800) 292-2905 or (502) 368-5858 and a Loan Professional can assist you with that information.
You can start the process in many different ways. It is always better to have an idea of the vehicle you are interested in before you go test-driving. We also suggest that you get pre-approved prior to looking for a specific vehicle. However, pre-approval is not necessary to buy a vehicle. For more information, contact one of our Loan Professionals at (800) 292-2905 or (502) 368-5858.
Purchasing your first home can be an overwhelming experience. We suggest you consider our First Time Home Buyer program, designed to help the member who is just starting out. This program will allow you to learn about the Home Buying process and help you make decisions along the way. Click on the link provided for more information, or contact one of our Real Estate Professionals at (800) 292-2905 or (502) 368-5858.
Rates on Auto loans vary from month to month and are based on the model year of the vehicle and your credit history. You can view the range of rates, and rates for other loan programs, by clicking on Current Rates or by contacting our Loan Department at (800) 292-2905 or (502) 368-5858.
How you access your line-of-credit loan is determined by what type of line-of-credit you have. If you have a line-of-credit from our Home Equity program, you can access your funds by calling in and requesting an advance from one of our Real Estate professionals. Or you can visit one of our branch locations and request and advance in person. We even offer home equity checks so that you can just write a check for the amount you want to be advanced. If you have a line-of-credit from our Personal Loan program (excluding CashXpress), you must request an advance from one of our Loan Professionals via phone or by visiting one of our branches. CashXpress is designed for you to have access to your funds at all times via check or debit card.