The Lending Process and How It Works

You’ve determined you have a loan need. Great! We love helping members.

Whether it’s for a car, home improvements, tuition or a getaway retreat, we’re here for your life’s financial needs. But what happens after you complete and submit an application? Read on to learn about the lending process and what you can expect.

Yellow ducks in a row


We help fund the lives of our members. 

Taking out a loan can be a big decision. As your financial partner, we’re here to guide you and ensure you are comfortable with your choice. Contact us today about your borrowing needs.

Ready to get started? Apply Now Online ›

1. You Submit an Application

After your loan is submitted whether in person, by mail, over the phone or online, you will be paired with one of our lending experts, giving you personalized service. Their focus is to help you meet your goals! We'll speak with you to get a better understanding of your borrowing needs.

2. The Underwriting Process

Next, is the underwriting process. Your credit history, income, and debt obligations will be reviewed. We want to make sure you are borrowing responsibly to avoid possible financial woes after receiving the loan. Your financial health will always be our number one priority. Depending on your loan needs, you may be asked to provide additional verification, such as pay stubs if you do not have direct deposit with Viriva. Loans, such as a home equity loan, may require property appraisals and title searches.

3. It's Time to Talk

Once we compile all of the necessary documents, we will speak with you about your options. Loan approval, the amount of the loan, monthly payments, and the rate is determined on an individual base. You may have several options available to you, depending on what your goals are. If approved, we will go over the terms of the loan with you. However, if additional requirements are needed, we’ll help you understand your unique situation and make recommendations of what steps you can take to help you meet your goal.

4. Getting Your Hands on the Funds

The last step is the loan signing and funding process. Some loans may be signed electronically with funds available to you on the same day. Depending on your loan type, we can either deposit the funds directly into your Viriva account or provide it to you in the form of a check.

Viriva is all about helping members meet their financial needs.  For over 80 years, we've help members take control of their finances. Through truth, direction and guidance, we empower members to reach their dreams, whatever they may be. 

For more information about our lending service, Connect With a Lending Expert