Loans

VISA Disclosure

VISA Disclosure Information Information was accurate April 19, 2012 and is subject to change. Contact the Credit Union at: 8404 W. Kellogg Drive, Wichita, KS 67209 for up-to-date information.

Illinois Residents: Residents may contact the Commissioner of Banks and Trusts for comparative information on finance charges, fees and grace periods. State of Illinois, CIP, P.O. Box 10181, Springfield, Illinois 62791, (800) 634-5452. Wisconsin Residents: Wisconsin law provides that no agreement, court order or individual statement applying to marital property will affect a creditor's interest unless prior to the time credit is granted, the creditor is furnished with a copy of the agreement, court order or statement, or has knowledge of the adverse provision. Ohio Residents: Ohio laws against discrimination require that all creditors make credit equally available to all credit worthy customers and that credit reporting agencies maintain separate credit histories on each individual upon request. The Ohio civil rights commission administers compliance with this law. California Residents: A married applicant may apply for a separate account. Maine Residents: This will notify you that a consumer report may be requested in connection with this application and you will be informed whether or not such report was requested. If a report is requested, you will be informed o f the name and address of the consumer reporting agency and furnished a copy of the report. New York Residents: A consumer report may be requested in connection with this application. Upon your request, you will be informed whether or not a consumer report was requested, and if it was requested, the name and address of the reporting agency that furnished the report.

Click here for VISA application

Signature Loans

Signature loans are loans without collateral and are based on your income and credit history. If you need some cash for your wallet, or that new furniture or a much-needed vacation, you can apply for a signature loan. You don’t even have to be a member of Mid American to apply. There are no application fees and you’ll get a fast response to your request. Click here for an online application.
Ways to submit your application:

• Fax to (316) 722-0920
• Mail to Mid American Credit Union, Financial Services Department, 8404 W. Kellogg Dr., Wichita, KS 67209
• Call during business hours, (316) 722-3921, ext. 202
• Apply in person at a branch.

Features of our signature loans:

• Low minimum amount of $500
• Everyday low rates and terms
• No prepayment penalties for paying off the loan early
• Set up convenient automatic payments or payroll deduction
• Low fee credit life and credit disability payment protection

Whatever your borrowing needs, Mid American can help. We take the hassles out of borrowing with no gimmicks, no hidden charges and no wait to apply. In fact, you don’t even have to be a member to apply for a Mid American loan. Mid American offers the following loans:

• New and used cars
• Boats and RVs
• VISA credit cards
• First and second mortgages
• Home equity VISA and lines of credit
• Personal or Signature loans

Among the features of our loans: no application fees; fast, friendly service; no penalties for early payoff; and great rates for credit life and disability insurance to protect you in the event of disability or death.

Click here for an online application.

Ways to submit your application:
•    Fax to (316) 722-0920
•    Mail to Mid American Credit Union, Financial Services Department, 8404 W. Kellogg Dr., Wichita, KS 67209
•    Call during business hours, (316) 722-3921, ext. 202
•    Apply in person at a branch.

Ways to pay:
•    Payroll deduction. Available to employees of companies affiliated with Mid American.
•    Automatic payment from a Mid American checking or savings account
•    Desktop Banking, our online banking service
•    MATT, the Mid American Telephone Teller,  system
•    Automatic transfer from an account at another financial institution

Home Equity Loans and Credit Lines

Home Equity Loans & Second Mortgages

A solution for meeting your financial needs may literally be at your doorstep — the equity in your home. Equity is based on the current market value of your home minus any remaining mortgage payment. Use your home’s equity to purchase a car, finance school expenses, do a home remodel or consolidate your credit card debt.

At Mid American, we offer two home equity borrowing options: a lump-sum loan or access to a line of credit whenever you need it. The interest paid on either option may be tax-deductible; consult your tax advisor for the specific tax benefits.

Equity Access VISA

Choose this product if your borrowing will occur over time, such as buying items for your DIY home improvements. You can access your line of credit through either a VISA card or checks, which means you’ll have the funds when you need them, where you need them. You’ll get a better interest rate option if your paycheck is directly deposited into a Mid American checking account.

Traditional second mortgage

For specific, large expenses — such as consolidating debt — this fixed-term, fixed-rate, closed-end loan would be your best option. You’ll get a lump-sum payment and then make the same monthly payment at the same interest rate until your loan is paid in full. If your home is already paid off, you can still qualify for this loan — it’s simply called a home equity loan in that case.

What’s my home’s equity

To figure your home’s available equity, multiply the appraised value of your home by 90% then subtract the amount you owe on your mortgage. The remaining balance is your available equity. At Mid American, we use the county’s appraised value for your home unless a member wants to pay for another appraisal.

For example:

$80,000 – Appraised value of home
x 90%
$72,000 – This is 90% of your appraised value
-31,000 – Amount owed on mortgage
$41,000 – Available equity

Apply now

Just click here for the secure Equity Access/Second Mortgage application, fill it out and electronically submit the form.

*APR=Annual Percentage Rate. Rate effective 4/1/11 and subject to change without notice. Gift card offer good on approved home equity loans of $10,000 or more.