Loan Application Terms, Agreements, and Information

Disclosure Agreement

You will be required to agree to the following disclosures to complete a loan application:

• You agree to promptly inform MariSol Federal Credit Union in writing of any significant changes regarding your application.
• If approved you commit to notifying MariSol Federal Credit Union of any alterations in your name, changes of address, employment and/or income within a reasonable timeframe.
• You affirm the accuracy of the information provided in this application to the best of your knowledge.
• You authorize MariSol Federal Credit Union to access credit reports and share these reports with the AzLAT Loan Review Committee regarding this credit application and any subsequent updates, renewals, or extensions.
• Upon request, MariSol Federal Credit Union will disclose the name and address of any credit bureau from which it obtained your credit report.
• You acknowledge that willfully providing incomplete or incorrect information on loan applications to Federal Credit Unions or State Charter Credit Unions insured by NCUA is a federal crime.

Terms and Conditions

You will be required to agree to these terms and conditions to complete your application:

1. All information on this application is strictly confidential and will only be used to determine your need for and ability to repay this loan.
2. Applicant must have a disability or be representing a person with a disability and confirm that the loan is being used to purchase AT that will benefit a person with a disability. 
3. Applicant and co-applicant (if applicable) must be lawfully residing resident (s) of Arizona.
4. AzLAT loan payments are made through a monthly electronic debit. Borrowers are not required to use a MariSol account for repayment; any checking account at a financial institution that supports electronic transfers is acceptable. Borrowers must maintain an active checking account to facilitate the monthly electronic loan payment.
5. If approved, applicant needs to establish an account with MariSol Federal Credit Union with a $25 membership deposit ($50 with a co-applicant).
6. MariSol Federal Credit Union, our lending partner, requires all applicants and co‑applicants to possess and provide a copy of either an Arizona driver’s license or an Arizona state ID card in order to process an AzLAT application.
7. The AzLAT Loan Review Committee meets monthly. Completed applications with supporting documentation should be submitted the first Tuesday of the month. 
8. Request a loan amount between $100 and $20,000. (Higher amounts may be approved by the AzLAT Loan Review Committee).
9. Demonstrate sufficient creditworthiness and the ability to repay the loan.

Individual Credit

You must complete the applicant section about yourself and the co-applicant section about your spouse if:

1. The property pledged as collateral that you live in is in a community property state (Arizona, California, Idaho, Louisiana, New Mexico, Nevada, Texas, Washington or Wisconsin).
2. Your spouse will use the account or
3. You are relying on your spouse’s income as a basis of repayment.  If you are relying on income from alimony, child support, or separate maintenance, complete the co-applicant section to the extent possible about the person whose payment you are relying on.

Joint Credit

If you are applying with another person, complete the applicant and co-applicant sections.