I would be very careful using South Carolina Federal credit union for boat financing. They lack real Marine experience and have no idea how to read or consider a Marine survey. After approving my loan they took two weeks to finally decide the boat wasn’t worthy as collateral. Keep in mind it was a 26 foot regulator with 2015 twin 200hp Yamaha is on it. They refused to acknowledge or accept work orders fixing the recommendations from the survey. Extremely disappointed and wound hate to see anyone else experience this.
I had a similar problem when I was tying to refinance my boat last month. The lady working my loan was incredibly inexperienced. She told me that the underwriter wouldn’t consider things like my t-top as part of the boat’s value because it was a removable item. After a little arguing and “teaching” on my part, I was able to get everything settled with them. I ultimately ended up getting the refinance through them, but it was a pain to go through.
Sorry to hear that. I have been a member of SCFCU for many years and have always had great service. Just closed on a boat loan last Thursday. Never had to leave the office. Signatures were sent digitally and the money was put directly into my account.
Same here have used SCF credit union twice was very pleased with the service and they beat everyone else’s interest rate!!
KEY WEST 21BR
YAMAHA F150