Elevator Employees Credit Union was chartered on June 16, 1953 by the employees of Montgomery Elevator Company. Our first office was in the basement of the Montgomery Elevator Company in Moline, IL.
By the end of 1968 the credit union had grown to assets of $417,128.08. Membership was 581 members.
In the 1970's the credit union passed the $1 million dollar asset milestone. On October 24, 1978 the name changed to Montgomery Employees Credit Union.
Up until the middle of the 1980's the credit union was what was called a "plain vanilla" credit union. The only services were loans and savings accounts. In the 1980's Visa Credit Cards, IRA's and checking accounts were added to the services offered to members. By the end of 1989 the credit union had assets of over $5 million dollars.
Changes to the Property Value could change the results in a significant way. Lendersa® sliders allow you to make fast changes to explore your financing options.
You can change the property value by moving the Property Value slider up or down or by entering a new Property Value manually in the Property Value box.
When you change the Property Value, only the LTV will change, and the Loan Amount will remain the same Loan Amount.
Other advanced sliders’ options are available with Lendersa® Advanced Calculator
CloseChanges to the loan amount, even so slightly, could change the results in a significant way. Lendersa® sliders allow you to make fast changes to explore your financing options.
The Loan Amount Slider
Change the Loan Amount by moving the Loan Amount slider. (The LTV will change, and the Property Value will remain unchanged).
The LTV Slider
Change the Loan Amount by moving the LTV slider. (The Property Value will remain unchanged).
Other advanced options are available with Lendersa® Advanced Calculator
CloseLTV is the abbreviation of Loan To Value, and it is the ratio between the Loan Amount and the Property Value. The formula to calculate LTV is Loan Amount divided by the property value. 
Example: Loan Amount $300,000, Property value $400,000 
Changes to the LTV, even so slightly, could change the results in a significant way. Lendersa® sliders allow you to make fast changes to explore your financing options.
The Loan Amount Slider
Change the Loan Amount by moving the Loan Amount slider. (The LTV will change, and the Property Value will remain unchanged).
The LTV Slider
Change the Loan Amount by moving the LTV slider. (The Property Value will remain unchanged).
Other advanced options are available with Lendersa® Advanced Calculator
Close
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NMLS 1795154