Mountain Credit Union was granted an amendment to our Community Charter allowing us to serve four additional Western North Carolina counties – Cherokee, Clay, Graham and Madison. Our charter now allows us to serve anyone who lives, works, worships or attends school in Buncombe, Cherokee, Clay, Graham, Haywood, Henderson, Jackson, Macon, Madison and Swain Counties of North Carolina. Following is a history of the credit union and the changes that have come about since the credit union was established in 1963.
Mountain Credit Union was originally formed on April 5, 1963 to serve federal employees. Arcade Credit Union was the only credit union serving federal employees and their charter stated they could only serve those federal employees working in what was then the Federal Building in Asheville, North Carolina. The U.S. Forest Service personnel, Eastern Aerial Photography Laboratory, Social Security and IRS employees were large groups not located in the Federal Building but in Asheville and didn't fall under this charter. Fran Miller, a federal employee from one of these groups, went to Arcade Credit Union and requested membership as a federal employee. Since Arcade's charter would not allow Ms. Miller to become a member, nor were they willing to expand their field of membership to include these other groups of federal employees, she decided to do something about it. Fran Miller, along with 6 other individuals, began the process of chartering AFE Federal Credit Union, later to become Mountain Federal Credit Union. The initials 'AFE' stood for 'Asheville Federal Employees'.
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