Get Loan Application - Schoolsfirst Federal Credit Union Retirement ... - Retirement Schoolsfirstfcu

Completing the Loan Application for SchoolsFirst Federal Credit Union is an important step in securing your retirement loan. This guide is designed to help you navigate the online application process clearly and effectively, ensuring all necessary information is filled out correctly.

Follow the steps to complete your loan application online.

1. Press the ‘Get Form’ button to access the loan application form and open it in the editor.
2. Enter your employee information in Section One. This includes your full name, Social Security number, home address, employee ID, district, city, email address, state, contact number, zip code, and fax number.
3. In Section Two, provide details about your loan request. Indicate whether you have ever defaulted on a plan loan by selecting 'Yes' or 'No.' If applicable, answer if you have a current or previous 403(b) or 457(b) plan loan within the last 12 months and attach the required documents.
4. Select your loan source from the options provided: 457(b), 403(b), or Roth 403(b). Specify either the maximum amount you wish to borrow or enter your desired loan amount, noting that the minimum is $1,000.
5. Decide on the loan term, choosing between a general loan (maximum of 5 years) or a principal residence loan (maximum of 15 years). Ensure to attach supporting documentation where necessary.
6. Move to Section Three and choose how you would like the loan processing fee and future payments to be debited. Provide your SchoolsFirst FCU member number and share ID, or the financial institution details along with the required account information.
7. In Section Four, specify your preference for the delivery of loan proceeds, whether through ACH/EFT, wire transfer (noting the additional fee), overnight delivery, or mailing to the address on record. Complete the bank instructions and include any necessary documentation, such as a voided check.
8. Section Five requires spousal consent if your account balance exceeds $5,000. Your spouse must sign and date the consent, along with providing a signature guarantee if applicable.
9. Finalize your application in Section Six by signing and dating the form, which authorizes the loan request based on the provided information.
10. If applicable, Section Seven is for third-party administration use only. Ensure that any necessary signatures are obtained and submit your completed form as directed.
11. Upon completing the form, you can save your changes, download a copy, print it, or share the application as needed.

Complete your Loan Application online today to take the next step towards securing your retirement loan.