Share Credit Corporation

The financial services arm of

The Southeast Association of Housing Cooperatives

Atlanta, Georgia

Current Rates:

Mini Loans up to $3,000.00 for up to 36 months............8.0%                            

Share Loans up to $10,000.00 for up to 84 months......9.5%

Jumbo Loans up to $30,000.00 for up to 120 months..9.5%

Who We Are

Share Credit Corporation is a lending institution created in 1996 by housing cooperatives to provide the capital needed to finance membership purchases and home improvements.  It is the financial services arm of the Southeast Association of Housing Cooperatives for cooperative share loans.

 

Why We’re Needed

Housing cooperatives use access to capital to maintain sales values and to enable their members

to make improvements to their homes.  Cooperatives with access to capital make cooperative home

ownership more competitive with other housing opportunities.  Share Credit Corp. answers that need with membership purchase loans, home improvement loans and home equity loans.

Who We Serve

Share Credit Corp. serves the share loan needs of housing cooperatives from anywhere in the country. The intended borrowers are cooperative members with household income less than eighty percent (80%) of the Area Median Income (AMI).

 

Cooperative Participation Requirements

    1. Have written policies that demonstrate compliance with its bylaws for membership sales and home improvements.
    2. Have sales tools and procedures that comply with state laws and that protect buyers and sellers of cooperative homes.
    3. Be current in the payment of mortgages and other secured and unsecured debts.
    4. Demonstrate the financial strength to pay vendors and contractors.
    5. Demonstrate adequate reserves to protect the interests of its members.
    6. Agree to service and warrant the loans issued on behalf of its members.
    7. Keep hazard and liability insurance policies in force.
    8. Provide annual financial statements.
    9. Be a member of the Southeast Association of Housing Cooperatives.
     

Loan Products

           Mini-loans up to $3,000 for up to 36 months.

    Share Loans up to $10,000 for up to 84 months.

Jumbo Loans up to $30,000 for up to 120 months.

To Invest or Participate

     By mail:  Share Credit Corporation

P.O. Box 20099

St. Simons Island, Ga. 31522

Email:   Shareloans@atlantacooperatives.org

Click here for Membership Application / Agreement