Source: Tulalip Tribes Finance Department
Loan Policy Amendments
On May 2, 2014 the Tribal Loan policy was amended by Resolution 2014-243. The new loan policy will be effective June 1, 2014. The new loan policy will only effect new loans. All existing loans will remain on the same terms as agreed. The following are the changes:
Tribal Loans
· Loan term/maturity 22 months
· Minimum monthly payment $200.00
· Payment due date the 1st of each month
· All payment via payroll deduction or per capita/tribal distributions
· Loan must be paid in full (zero balance) before applying for a new loan
Default
· If defaulted, no new loan until six (6) months after previous loan paid in full
Emergency Loans added
· Rental deposits to prevent homelessness
· Loss of an Out of State or Out of Country Family member
The new policy will be available on Tulalip Tribes website for review and details.
http://www.tulaliptribes-nsn.gov/Home/Government/Departments/Finance/Policy.aspx