OAKES INTEREST FREE (0%) HOLIDAY LOAN PROGRAM

Consumer Rules & Procedures

The Oakes Area Chamber of Commerce sponsors the "Oakes Interest Free Holiday Loan Program" each year. The program is co-sponsored by First Community Credit Union and Starion Financial.

The Oakes Interest Free Holiday Loan Program

1. You may present your Holiday Loan Certificates at any participating business through the end of December. Participating businesses are listed with the loan application.
2. Unused Holiday Loan Certificates may be applied back as payment on your loan if presented to the lending institution by the end of December.
3. If you purchase greater than your certificate amounts, the merchant will ask you for the difference.
4. When making a purchase from a participating business, please remember to:
   a. Tell them you will be using the certificates prior to the sale.
   b. Fill in the name of the business on the "Payable to" line of the certificate
   c. Help the merchant out by paying any odd amounts in cash
5. Loan process will normally be disbursed in $100´s, $50´s, $20´s, $10´s, $5´s or $1´s. If at all possible, please tell the lender which denominations will best suit your needs according to your anticipated purchases.
6. Interest Free loans will be granted in amounts ranging from a $300 minimum to a $1,500 maximum. You will be charged a $5 non-refundable application fee which must accompany your submitted application form. Loans will be payable in 10 monthly payments beginning in January of 2006, with a minimum monthly payment of $50. You may be asked to provide security for your loan. This and any other loan terms vary at the discretion of the lending institution you choose.
7. Loan application forms are available only at the lending institutions, and completed applications must be turned into the lending institution. All loan applications must qualify under the lending institution´s loan underwriting policy.
8. The Oakes 0% Holiday Loan Program is available to all consumers within the participating lending institution´s area. You do not need to be a customer of one of the lending institutions in order to apply for an interest free holiday loan.
9. Oakes Holiday Loan Certificates may be used to purchase merchandise or services that would normally be purchased with cash or credit cards. However, they are NOT to be used for payment of existing charge accounts.
10. In the case of a large purchase, when final purchase price is negotiable between the buyer and merchant, the merchant may limit the amount of Oakes Loan Certificates he ⁄ she will accept. Also, the merchant may choose not to accept the certificate or account credit on certain sale or discount items.
11. If you return merchandise originally purchased with the Oakes Holiday Loan Certificates, you will be required to accept a store gift certificate or account credit rather than cash.
12. Oakes Holiday Loan Certificates are non-transferable.
13. You are responsible for any certificates of your which are lost or stolen. If this should occur, you must immediately notify the lending institution.
14. Loan applications will be accepted until a specific date established in December of each year.
15. The Oakes Area Chamber of Commerce reserves the right to interpret these rules and procedure in cases of dispute and the consumer agrees to hold harmless the Oakes Area Chamber of Commerce and its members.