Lending & Product FAQs
How do payments work?
Pay by check, or set up auto payments.
What terms are available?
We lease from 24-60 months.
Is a down payment required?
In most cases, IMCU does not require money down. Down payment, if any, is determined at credit approval and may vary by applicant and collateral.
How much is needed to get started?
Only your first payment is required to get started.
Who can lease with IMCU?
Any IMCU member may lease a vehicle with credit approval, provided the vehicle is licensed and registered in Indiana.
What is the benefit of leasing?*
- No down payment or security deposit required.
- Monthly payment as much as 40% lower than traditional loan.
- Work with IMCU employees directly.
*Actual payment savings vary; comparison is based on typical lease vs. loan structures. Fees may be charged for damages, excess wear, or over miles. Down payment, if any, is determined at credit approval and may vary by applicant and collateral.
What is the Indiana Members Investment Services Program?
Indiana Members Investment Services is a full-service investment program located at Indiana Members Credit Union and offered through LPL Financial.
How can Investment Services help?
- We can help with rollover services or pension plans if you've lost a job, changed jobs, or recently retired. You may have up to four options (and may engage in a combination of these options): leave the money where it is, roll it over to your employments new plan, roll it into an Individual Retirement Account (IRA), or cash it out. There may be differences in features, costs, services, withdrawal options, and other important aspects between your employers sponsored retirement account and an IRA.
- We can create a retirement income plan to approach your future years with confidence.
Can the Indiana Members Investment Services help me with retirement planning?
Yes! Indiana Members Investment Services has access to a wide variety of investment products to help you work towards the retirement lifestyle you're seeking. We believe everyone has a unique vision of their retirement years and we can help you manage your money to support that vision.
How do I get started with Investment Services?
To set up a no-cost, no-obligation appointment, contact an LPL Financial Advisor today at Indiana Members Investment Services by calling 317.610.3945 or completing our information request form.
Be sure to bring any documentation that will help the Financial Advisor understand your situation better, such as: tax forms, account statements, benefit information, and a picture ID. If married, it is best that both you and your spouse attend.
Check the background of investment professionals associated with this site on FINRA’s BrokerCheck.
Securities and advisory services are offered through LPL Financial (LPL), a registered investment advisor and broker-dealer (member FINRA/SIPC). Insurance products are offered through LPL or its licensed affiliates. Indiana Members Credit Union and Indiana Members Investment Services are not registered as a broker-dealer or investment advisor. Registered representatives of LPL offer products and services using Indiana Members Investment Services, and may also be employees of Indiana Members Credit Union. These products and services are being offered through LPL or its affiliates, which are separate entities from, and not affiliates of, Indiana Members Credit Union or Indiana Members Investment Services. Securities and insurance offered through LPL or its affiliates are:
| Not Insured by NCUA or Any Other Government Agency | Not Credit Union Guaranteed | Not Credit Union Deposits or Obligations | May Lose Value |
Indiana Members Credit Union provides referrals to financial professionals of LPL Financial LLC (“LPL”) pursuant to an agreement that allows LPL to pay Indiana Members Credit Union for these referrals. This creates an incentive for Indiana Members Credit Union to make these referrals, resulting in a conflict of interest. Indiana Members Credit Union is not a current client of LPL for advisory services. Please visit https://www.lpl.com/disclosures/is-lpl-relationship-disclosure.html for more detailed information.
The LPL Financial registered representative(s) associated with this website may discuss and/or transact business only with residents of the states in which they are properly registered or licensed. No offers may be made or accepted from any resident of any other state.
What is the Auto Advisor program?
A dealer network that helps our preapproved members get the best vehicle price without the haggling.
How do I use an Auto Advisor?
First, visit a local IMCU branch or fill out an application. After pre-approval, our team will give you a certificate to take to the Auto Advisor dealership.
What vehicle brands are a part of this program?
Most brands, new and used, are represented.
How do I pick up my new vehicle?
Once you decide on a vehicle, the dealer will get the purchase order to the branch. When you sign the loan documents, a check for the dealer will be provided to you. The dealer will then go through the complete delivery for you at the dealership.
Does IMCU have a car lot?
When a vehicle is turned in at the end of its lease with IMCU, we have it fully inspected and detailed, and make it available for a great used car deal to our members. The list of cars is always on our site, or you can call 317.791.9398 to check on availability.
Where is the car lot located?
The car lot is located just north of our Southside Branch at 5047 Madison Ave., Indianapolis, IN 46227.
Do you take trades?
No, we are unable to take trade-in vehicles.
How do I have to make a payment on my loan?
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Digital Banking: Use our online platform to transfer funds from an internal IMCU account or a linked external account.
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Online at IMCU.COM: Select Pay a Loan at the top right of the homepage to pay with debit card or ACH. There is a $4.95 convenience fee for using this service.
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Q-Phone: Use our automated telephone service for loan payments and history inquiries.
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Branch: You can visit any of our 33 branch locations to make a payment.
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Phone: You can contact Member Services to make a payment from your account or via ACH from an external account.
Where can I find my payoff?
You can obtain a payoff quote by contacting Member Services or your local branch.
For specific mortgage payoff inquiries, you may need to contact Dovenmuehle Mortgage Inc. (DMI) directly at 888.382.0738.
How do I get my title once my car is paid off?
Once your loan is paid in full, the credit union will release the lien on your vehicle. The title will be processed and mailed to the address we have on file. If you have questions about the status of your title, please contact Member Services.
What is CPI insurance?
Collateral Protection Insurance (CPI) is added to a loan when we do not have proof of valid physical damage insurance on the collateral (such as your vehicle). To avoid this, ensure you provide proof of full coverage insurance (comprehensive and collision with a deductible of $2,000 or less) listing IMCU as the lienholder. You can submit proof online at www.myinsuranceinfo.com, by fax to 800-709-4820, or by mail to P.O. Box 5009, Westfield, IN 46074.
My vehicle with a loan was totaled or traded. Why is my loan still out there?
If your vehicle was totaled or traded, your loan remains active until the insurance settlement or trade-in proceeds are received and applied to your account. Please contact your local branch loan officer or Member Services to provide documentation of the total loss or trade-in so we can update your loan status accordingly.
