Create Member Loan Request
These steps explain how to create a new loan request for an existing member.
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Launch Tool #2 Work/View Loan Application Status.
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In the Last name field in the top right corner of the screen, enter the member’s last name and click the forward arrow.
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This is to ensure that an application has not already been created for this member.
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If an application hasn't already been started for this member, click New Application.
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In the Account base field, enter the member’s account number.
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Click the forward arrow.
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The Action Code list will appear. Be sure to review any highlighted items, which have previously saved information.
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Select LR (Loan Request).
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Click Select.
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Select the loan product from the list.
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Click Select.
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If you'd like to request a credit report, click Continue in the Generate Request for Credit Report pop-up. If not, click Skip.
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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.
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On the Loan Request screen, enter the loan request details.
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You must enter at least two of the following: amount requested, # of payments, or payment amount.
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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.
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You'll then return to the Loan Request screen, where you'll need to click the forward arrow to continue.
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On the Loan Request Payment Selection screen, select a payment by clicking the Choose This Pmt button beside the desired payment.
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You may select to add loan insurance, debt protection, and miscellaneous coverage on this screen.
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Review the Loan Request Recap screen for accuracy.
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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.)
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If there are changes you need to make to the loan request, click Edit Loan.
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To exit the loan request and return to your starting point, click Save/Done.
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