• An applicant must have worked at BBNA and/or its subsidiaries for six months or after they have fulfilled their probationary period in BBNA before being eligible for a car loan.
• Th credit union will finance 100% of the NADA loan value, not including tax, tags, and title.
• The Credit Committee may approve/disapprove an amount not to exceed $30,000 for a used auto loan. Amounts that exceed $30,000 will be referred to the Board of Directors.
• A down payment may be required based on your credit history.
   

Special Requirements

• The BNA Federal Credit Union's lien must be recorded on the title and the latter kept by the credit union until the loan has been paid off.
• Comprehensive and Collision Insurance (not more than $500 deductible) is required for the duration of the loan. The insurance policy must list BNA FCU as the loss payee.
• The dealer's purchase order must accompany the loan application.
   

Procedure for Automobile Loan Application

• A member files a loan application with the credit union (NOTE: The credit union will pre-approve automobile loans. The pre-approval will only be in effect for 30 days).
• The Credit Committee or an appointed loan officer evaluates the loan.
• Loan funds will not be disbursed without the dealer's buyer or purchase order. The dealer will register the title with the credit union as the lien holder. The check must be issued in the name of the applicant and the automobile dealer.