Mary Frances Davis, President
Jan Peters, Vice President
Father Francis Scanlan, Treasurer
Marvin McCurry, Secretary
Christine A. Riley, Board Member
A parish Credit Union existed for the mutual benefit of all of its members. Since we have a common bond, we care about one another and will live up to our commitments especially when it comes to repaying our loans. With all volunteer help, we have minimal costs. We pay dividends from our income and depend on the help of many of our members to serve on the board and the various committees. Together we can get the most for our savings and loan dollars.
Any member of Saint Martin de Porres Parish and any EMPLOYEE of Saint Martin de Porres Parish may open an account with the Credit Union and only this group. This includes children as well as adults. Only members may be elected officers of the Credit Union and serve on the various committees.
Basic: Our basic loan rate is 10% per annum based on a 365-day year for loans of over 1 year and 9 % for loans of less than 1 year. Interest is charged on the number of days from your last payment. Delayed payments add to your costs. Early and additional payments reduce interest costs.
Fully Secured: When members leave their money in their shares and borrow against these funds, we have more assets and can write larger loans. To encourage this, we offer special rates for fully secured loans over $ 500.00.
$ 500.00 to 3000.00 only pays 6%
$ 4000.01 and over only pays 5%
A fully secured loan means that you have to pledge your money on deposits equal to the amount of the loan and you may not withdraw those savings without the Credit Committee’s approval. You can always withdraw any amount from your account over the loan amount and as the loan is repaid more of your shares are free to be withdraw as you wish.
You are always free to withdraw from your account rather than borrow. That will save you interest costs but it may reduce your free benefits.
In person: 1st and 3rd Sundays @ Saint Martin De Porres between masses (9:00 a.m. – 10:30 a.m.)
In person & by telephone: Saturdays @ Purcell Hall; 4300 W. Washington Blvd. 10:00 a.m. - 1:00 p.m. Phone: 773-626-0776