European Stars And Stripes (Newspaper) - February 7, 1978, Darmstadt, Hesse                                The instrument Way of continued Rem pups All impulse spending to the one cant control the appetite for the other for consumer while Tome service personnel com Plain that they cant get a Survey of the Market reveals that most consumer find Money Ebay to borrow at reasonable interest seventy five percent of the credit extended to americans in Europe is provided by credit which service clients from overseas branches and Home offices in the additional credit comes from military commercial Banks in the off base loan the latter operating primarily in and British build ing which underwrite the Pur Chase of Homes for americans in the credit unions and Banks offer clients financial but there is a tendency among individuals mired in debt to ignore this some customers shop for credit Oft base because they have been turned Down by credit unions or Banks As bad credit others simply Are not aware that credit unions and Banks or Are indifferent the costs of borrowing to Best advertisement of credit Mulatu and Banks is their favourable schedule of interest rates for signature Loans requiring the borrowers signature run 12 rent year for Sunu not Exi ceding the maximum repayment period such Loans is two both credit is and Banks Are considering changes i would permit larger Loans Cor longer policy for collateral credit Loans creditors seizure rights in cases of differs because this Type of credit y collateral credit is provided by unions primarily for new Automo but military Banks May be offering credit by Erest rates and contract conditions f from one lending institution to Aneth All creditors prefer the allotment system of As a Protection against of base loan companies stress the of this to Germany rout of Motse credit is written by government employees financial corporation a private firm doing bus Negi from it and a Small loan firm financed out of new and run by agents set up in major troop although Refco writes Loans up to and at times exceeds this it will not loan Money to enlisted personnel below the e4 pay Grade due to their limited earning Refco interest rates vary from id percent a year the rates depending on the size and payoff periods of while Omni rates run from 22 to 36 per experiences with this but Richard overseas manager for an Drews Federal credit believes that to theory everyone is Good for some determining credit entitlement for people of widely different incomes and buying habits gets Down to the heart of the loan mis when a customer comes in we try to measure need against ability and desire to often a Compromise has to be worked it simply May not be Wise for the individual to borrow As much As because ability to repay is geared to credit unions use pay vouchers at a measure of credit no Thomas manager for finance Center Federal credit the wrong kind of credit often shackles the Borrower to exorbitant interest cent a it does a Good business by pro Viding Loans to the default Rale for Omni customers runs about according to firm president Fred who said this is about three limes the level for lending building society mortgages a relatively new development at american communities in Britain where of base housing is scarce Are provided at floating the interest depending on Market Condi despite contract there it one constant in All loan agree ments Money borrowed must tit paid Back with because ability to pay is a requisite for the smallest credit ratings and current debt All serve As useful Loots in determining an individuals borrowing Ca most credit unions Are wary of making big Loans to first Ermers because of past usually sets a 500 limit on Loans to Els and while Eft normally qualify for Tomkiewicz says an e6 is the lowest pay Grade qualifying for a the rejection of loan requests often is the result of accumulated Peter manager for service Federal credit Ger reports that loan requests of Many clients Are reduced or rejected because the individuals involved already Are deeply in Many Kopenits arrive in Europe with More credit than they can in their advisory credit unions often will recommend the Consolida lion of a series of Loans to save where an individual is making four or five payments to different 11 May be advantageous to consolidate these payments into a single Walrath this will eliminate paperwork an save particularly if the credit ii from loan companies charging High inter est but some loan companies dont like to give up these payments because they Are milking their to accommodate their european Cli the overseas branches of most credit unions provide reasonably prompt in Naples a computer tie with the Navy Federal credit Union Home office in in ton offers five hour loan service and share savings Deposit withdrawal in less than a while service elsewhere la Loam at Moat Branch offices Are processed in i or at customers usually Complete necessary paperwork in one or two Calls at local credit Union delays Are unavoidable when loan applications Are sent to credit committees in the Stales for Katherine eng Keesler Federal credit Union Man Ager for says requests for credit committee review May be made by a client or a credit Union in All such the final decision rests with the answers on loan applications usually an returned within 14 although such delays obviously cause business continues to reflect the increasing use of credit by americans in in 1976 that use added unto an estimated my of this the credit unions loaned by far the largest while an exact breakdown i new credit Union Loans if in officials put the figure at additional estimates for the year put military banking credit at f 14 Refco Loans at million now Money Only Omni an estimated 112 million and Loans by commercial Banks at several million for at least some would be Borrower heres a Story behind the those who complain that credit it not available ought to digest the loan Statis a credit Counselor and then they ought to take a close look at them m Page a2 the stars and stripes february