Loan Products

Vehicle Loans

Personal Loans

Whether you want to consolidate your finances, fix up your home, or pay for a dream vacation, we can help you achieve your goal with a personal loan that's right for you!

Our signature loans can cover you for a variety of borrowing needs. It’s perfect for short-term borrowing situations or for occasions when unexpected expenses need to be repaid over time.

• Signature (unsecured installment loan)
• Open-End (pre-approved revolving loan)
• Overdraft Protection (Protects against overdrawn share draft)

Share Secured

Landmark Credit Union offers share secured loans. Don’t want to use the money in your share accounts or do not want to cash in that certificate early, no problem, with this special loan that lets you borrow against money you have in the Credit Union. This means you get a low rate on that loan and you can continue to earn dividends on the money in your accounts.

Vehicle and Loan Protection

Mechanical Breakdown

Avoid Costly Repairs. Be ready for the unexpected and ensure you are covered in the event a mechanical breakdown occurs. Mechanical Breakdown Protection Plans are available for both new and pre-owned vehicles, and coverage is transferable if you sell your vehicle before your agreement expires providing added resale value.

Guaranteed Asset Protection

GAP is Total Loss Protection... and then some. The moment you drive your vehicle off of the lot, it depreciates about 20% on average. And you can count on roughly a 15% decline in value each year for the next four years. If your vehicle is stolen or damaged and deemed a total loss, you are responsible to pay the difference between what you owe and what your insurance company says your vehicle is worth. GAP can help cover the difference and potentially save you thousands of dollars.

Debt Protection

Life can be wonderful. But it can also get complicated when unexpected things happen. Protecting your loan payments against death, disability, or involuntary unemployment could help protect your finances. This protection could cancel your loan balance or payments up to the contract maximums. Protect your loan payments today so you can worry a little less about tomorrow. Purchasing protection is voluntary and won’t affect your loan approval. It’s simple to apply.

Debt-To-Income Ratio

What Is Debt-to-Income Ratio?

It is calculated by dividing the total amount of monthly debt payments by the total amount of monthly income. The resulting ratio is expressed as a percentage.

Debt-to-income ratio is important in personal and business finances because it helps individuals and organizations understand their level of debt relative to their income.

It provides an accurate picture of their financial situation, which can be used to make informed decisions about borrowing and spending.

Why does my debt-to-income ratio matter?

When it comes to borrowing money, lenders use your DTI ratio to figure out if you can handle more debt. Lenders consider your monthly bills when assessing this ratio. A lower DTI ratio, alongside many other factors, can help you get approved. This means you have a healthy balance between debt and income. Conversely, a high DTI ratio might make it harder to get loans. It could also make managing your monthly payments more challenging.

Lenders weren’t always required to consider people’s ability to repay loans. This changed after the 2008 financial crisis to help protect both borrowers and lenders. Keeping an eye on your DTI ratio can help you make smart decisions about taking on new debt. It’s also a useful tool for understanding your overall financial health.

It is essential to ensure accuracy when calculating the debt-to-income ratio. This can be achieved by double-checking all figures and including all sources of income and debt payments.

Here is an example of how to calculate the debt-to-income ratio:

An individual has a monthly income of $6,000 and the following monthly debt payments:

• Mortgage: $1,500
• Car Payment: $300
• Credit Card Payments: $500
• Student Loan Payments: $200

The total monthly debt payments are $2,500. To calculate the debt-to-income ratio, divide $2,500 by $6,000 and multiply by 100 to get a ratio of 41.67%.

The Bottom Line

Your debt-to-income ratio plays a significant role in qualifying for a loan. Lenders may not approve you if your ratio is beyond their maximum allowed. However, you can improve your ratio by paying off loans and other debts or making more money. Checking your credit reports is essential, too, because errors could make your DTI ratio seem higher than it is.