Create and manage loan products

Create, edit, and archive the loan products your credit union offers, including code, loan type, rate source, and amount and term limits.

A loan product is a lending offering your credit union makes available to members: its code, loan type, rate source, and amount and term limits.

Credit Officers see only active products when creating a new loan application, so keeping your product list accurate directly affects what your team can originate. As a Credit Manager or Administrator you can create new products, update their parameters, or archive discontinued ones.

Required role: Credit Manager or Administrator (loans.products.manage capability). Viewing the product catalog and the new-application dropdown requires loans.products.read (read-only; the New, Edit, and Archive controls need loans.products.manage).

To access the product catalog, navigate to Administration → Products.

Create your loan types first. A product is built on top of a workspace-defined loan type, so if no active loan types exist the product form shows the notice “No loan types yet. Add one under Loan types first, then come back to create this product.”, and creation fails until you pick one. Set those up before adding products.

Give every product a clear name that Credit Officers will recognize in the new-application dropdown. The examples below such as “Civil Servant Go!” and “Home Sweet Home Mortgage” are illustrative names; pick whatever fits your own lineup. The code is the short internal identifier shown in the product list and recorded in audit events.

What a loan product contains

Each loan product is defined by these fields:

Field	Description
Code	A short, unique internal identifier such as CIVIL-GO or MORTGAGE-STD. Uppercase letters, numbers, and dashes only, 2 to 20 characters. Shown in the product list and recorded in audit events
Name	The display name Credit Officers see in the new loan application dropdown, up to 80 characters
Loan type	The workspace-defined loan type this product belongs to, chosen from your Loan types catalog. Each loan type is bound to one behavioral archetype (Unsecured, Cash secured, Motor vehicle, or Real estate), which determines the PDF agreement template, collateral fields, and rate engine path
Rate source	How the interest rate is calculated for this product: FLAT, RISK_BAND, COLLATERAL_TYPE, or VEHICLE_AGE. See Rate Tables for details
Default rate	For FLAT products, the fixed annual interest rate as a percentage such as 12.00 (0 to 100 percent). Not used for RISK_BAND, COLLATERAL_TYPE, or VEHICLE_AGE products, where the rate is looked up from your rate table at approval time
Minimum amount	The lowest loan amount a Credit Officer can request for this product. Non-negative
Maximum amount	The highest loan amount a Credit Officer can request for this product. Non-negative
Minimum term	The shortest repayment period, 1 to 480 months
Maximum term	The longest repayment period, 1 to 480 months
Description	Optional. An internal note kept on the product record; not currently surfaced on the New Loan dropdown

Finding products in the catalog

The Products page lists your products with a search box (by code or name), a loan-type filter, a rate-source filter, and All / Active / Archived status tabs that each show a count. Each row shows how many applications have used that product (rows with no applications yet show no count), so you can tell active offerings from dormant ones at a glance. The list pages 20 at a time with a Load more button.

Creating a product

1. Make sure a loan type exists

   A product is built on a loan type from your Loan types catalog. If none are active, set one up under Administration → Loan types first. See Loan types.

2. Go to Administration → Products

   The Products page lists all active and archived products for your workspace.

3. Click New product

   The new product form opens.

4. Enter a product code and name

   The code is a short internal identifier such as CIVIL-GO or MORTGAGE-STD. It must be unique within your workspace, can contain only uppercase letters, numbers, and dashes, and is 2 to 20 characters. The name is what Credit Officers see in the dropdown.

5. Pick the loan type

   Choose the loan type from your Loan types catalog. The product inherits that type’s behavioral archetype (Unsecured, Cash secured, Motor vehicle, or Real estate), which drives the rate engine path, collateral fields, and PDF template.

6. Select the rate source

   Choose how this product’s interest rate is calculated. If you select FLAT, enter the fixed rate in the Default Rate field. For RISK_BAND, COLLATERAL_TYPE, and VEHICLE_AGE, the rate is looked up from your rate table at loan approval time.

7. Set amount limits

   Enter the minimum and maximum loan amounts in JMD. Leave these blank if you do not want to enforce limits for this product. The minimum cannot exceed the maximum.

8. Set term limits

   Enter the minimum and maximum repayment terms in months, each between 1 and 480. For example, enter 12 and 60 for a one-to-five-year product. Leave blank if you do not want to enforce term limits.

9. Add an optional description

   Enter a short description (up to 500 characters). This is an internal note kept on the product record; it is not currently surfaced on the New Loan dropdown.

10. Click Create product

    The product is created and immediately appears in the new loan application dropdown for Credit Officers.

Editing a product

To update an existing product:

1. Go to Administration → Products.
2. Find the product and click its row, or use the Edit button on the row, to open the edit form.
3. Update the fields you want to change, then click Save changes.

Every field is editable, including the loan type and rate source. Changing the loan type re-points the product to a different archetype, so do it deliberately. Existing loan records read the product fields live, so an edited name, code, or limit appears on loans already using the product. Any loan not yet approved is priced at approval against the edited rate source and rate. The requested amount and term captured on each application are unchanged, and the interest rate is locked only once it has been computed at approval. Each save records a loan_product.updated audit event.

The new loan application form shows only active (non-archived) products. Archive discontinued products to keep the dropdown clean for Credit Officers.

Archiving and restoring a product

When your credit union stops offering a product, archive it rather than deleting it. Archiving hides the product from the new loan application dropdown without affecting any existing loans that used it.

To archive a product:

1. Go to Administration → Products.
2. Find the product and click Archive.

The product moves to the Archived tab. It no longer appears to Credit Officers. Archiving records a loan_product.archived audit event.

To restore an archived product:

1. Go to Administration → Products and open the Archived tab.
2. Find the product and click Restore.

The product becomes active again and reappears in the new loan application dropdown. Restoring records a loan_product.restored audit event.

What happens to loans created with an archived product?

Archiving only prevents new applications from being created with that product. Archived and edited products stay linked to their loans (the relation is restricted, so an in-use product cannot be deleted) and remain visible on those loan records. There is no versioned product snapshot: the displayed product fields reflect the current product values. The requested amount and term captured on each application are unchanged, and the interest rate is locked only once it has been computed at approval, so a loan still in progress re-prices at approval against the current product.

Rate sources at a glance

Rate source	Best for	How the rate is determined
FLAT	Simple fixed-rate products	The rate you enter on the product is applied to every loan
RISK_BAND	Unsecured and mortgage loans	Looked up from your rate table based on the borrower’s R1 to R5 risk band. Mortgage products read a separate real-estate band table
COLLATERAL_TYPE	Cash secured and collateral-rated loans	Looked up based on the collateral type (Vehicle, Shares, Cash hypothecation, Property)
VEHICLE_AGE	Auto loans	Looked up based on the vehicle’s age in years