If you are looking for Loan Agreements
you can find them in our Download Library under Loan Docs or Click
here.
Settlement loans provide overdraft protection
in the event your credit union has insufficient
funds to cover daily settlement. This variable
rate loan has a maximum maturity of 30 days.
Because this loan type was created to provide
overdraft protection, it is Southeast Corporate's
highest loan rate.
A variable rate loan that is available
upon request to those credit unions that
maintain a current line of credit with Southeast
Corporate. Like the settlement loan, the
demand loan was created to assist members
in managing their short-term liquidity.
Maximum maturity is 12 months.
Term loans are closed end loans designed
for the short or intermediate-term funding
needs of your credit union. To assist with
your credit union’s specific liquidity
needs, the loan can either be set with a
fixed or variable interest rate with a maximum
maturity up to 36 months. Once the type
of interest rate and maturity characteristics
has been determined for the loan, Southeast
Corporate will price the loan to provide
your credit union with a competitive interest
rate. Since the loan is unsecured, line
of credit will be reduced by the amount
of the outstanding term loan(s).
Collateralized loans give our members the
flexibility to utilize several different
sources of collateral to satisfy liquidity
needs without accessing their established
line of credit. Members may pledge Southeast
Corporate share certificates, utilize securities
maintained in Southeast Corporate’s
safekeeping program or guarantee the loan
with their own credit union’s loan
portfolios. The loan amount granted will
be based on the type of collateral pledged
with minimum margin requirements established
for each collateral class. Like the term
loans, the member may choose the type of
interest rate with the actual rate established
by Southeast Corporate. Additionally, the
maturity of the loan can be determined by
the credit union, with the maximum maturity
not to exceed the final maturity date of
the pledged collateral.
This loan is available to those members
participating in the securities safekeeping
and reverse repurchase programs. Terms may
vary based on the security used as collateral.
For more information call 1-800-342-0203,
opt 2.
Access to NLAC is available through Southeast
Corporate, providing liquidity of the participant's
loan portfolio. Through a limited-recourse
bulk loan sale to NLAC, credit unions can
reduce liquidity, interest rate and credit
risk in their balance sheet. NLAC provides
an additional funding source for credit
unions to keep loans flowing through their
pipelines. This gives the credit union an
opportunity to increase its membership base
while at the same time retaining the servicing
on the loan portfolio.
Additional liquidity is available through the CLF.
Membership in Southeast Corporate makes
your credit union automatically eligible
to receive benefits from the CLF without
having to fund the agency directly.
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