Create Member Loan Request

These steps explain how to create a new loan request for an existing member.

  1. Launch Tool #2 Work/View Loan Application Status.

  2. In the Last name field in the top right corner of the screen, enter the member’s last name and click the forward arrow.

    • This is to ensure that an application has not already been created for this member.

  3. If an application hasn't already been started for this member, click New Application.

  4. In the Account base field, enter the member’s account number.

  5. Click the forward arrow.

    • The Action Code list will appear. Be sure to review any highlighted items, which have previously saved information.  

  6. Select LR (Loan Request).

  7. Click Select.

  8. Select the loan product from the list.

  9. Click Select.

  10. If you'd like to request a credit report, click Continue in the Generate Request for Credit Report pop-up. If not, click Skip.

    • If the member already had a credit report on file or if you just requested one, the credit score will appear in the top right corner of the next screen. If risk-based pricing is used by your credit union, then the interest rate will be automatically populated.

  11. On the Loan Request screen, enter the loan request details.

    • You must enter at least two of the following: amount requested, # of payments, or payment amount.

  12. If you selected to add collateral, you will advance to the Collateral Identification screen, where you'll need to enter the collateral information and click Save/Update when finished.

  13. You'll then return to the Loan Request screen, where you'll need to click the forward arrow to continue.

  14. On the Loan Request Payment Selection screen, select a payment by clicking the Choose This Pmt button beside the desired payment.

    • You may select to add loan insurance, debt protection, and miscellaneous coverage on this screen.

  15. Review the Loan Request Recap screen for accuracy.  

    • If all information in the loan request is correct, click Complete Loan App. (For assistance, see Complete Loan Application After Loan Request is Completed and start with Step 8.)

    • If there are changes you need to make to the loan request, click Edit Loan.

    • To exit the loan request and return to your starting point, click Save/Done.