Loan Application Core Requirements

The following should be provided when applying for a loan:

Wise loan requirements
  • Passbook – to include at least one member share and the required savings
  • Photo Identification (e.g. Social Security card)
  • Amount of money needed and the purpose for such
  • Collateral offered – it’s value and location
  • Job letter
  • Recent pay-slip or salary statement from place of employment
  • Credit reference / Credit Report
  • Other commitments

The member will then be interviewed by the loan officer who will ensure that all requirements have been met. Upon doing so, a member who may not have adequate collateral may be asked to bring in a co-maker.

As a Co-Maker, you must :

WCCCU Wise Comaker