Loan Rates
Rates and Terms Effective 01-01-2023
Rates are subject to change periodically as the Board deems necessary. A copy of your current, unexpired driver’s license is needed with each loan application.
UNSECURED
| Tier | Preferred | A | B | C | D | E |
|---|---|---|---|---|---|---|
| Score | 715+ | 680-714 | 640-679 | 600-639 | 550-599 | Under 549 |
| Rate | 8% | 10% | 12% | 14% | 16% | 18% |
| Max | $5,000 | $4,000 | $3,500 | $3,000 | $1,500 | $1,000 |
| Term | 36M | 36M | 36M | 36M | 24M | 12M |
NEW COLLATERAL
| Tier | Preferred | A | B | C | D | E |
|---|---|---|---|---|---|---|
| Score | 715+ | 680-714 | 640-679 | 600-639 | 550-599 | Under 549 |
| Rate | 3.5% | 4% | 5% | 9% | 12% | 16% |
| Term | 72M | 72M | 60M | 60M | 60M | 60M |
USED COLLATERAL
| Tier | Preferred | A | B | C | D | E |
|---|---|---|---|---|---|---|
| Score | 715+ | 680-714 | 640-679 | 600-639 | 550-599 | Under 549 |
| Rate | 4% | 6% | 8% | 12% | 15% | 18% |
| Term | 72M | 72M | 60M | 60M | 60M | 60M |
Demos with less than 8000 miles will be considered new
Maximum debt to income ratio is 45-55%, at manager's discretion
Preferred discount -2% for members with credit scores above 715 AND debt ratio less than 35%
Must meet both the credit score and debt ratio criteria for the preferred rate. Lowest rate on any loan is 3.5%, which is the floor limit at this time
100% loan financing if debt ratio qualifies
Any loan may require a down payment or qualified cosigner. This does not apply to established members of the credit union who have never been a collection problem for the credit union before
All terms and loan amounts are based on members debt ratios and the total amount they borrowed with the credit union
Current Fees
| Type of Fee | Shown on Fee Schedule | Fee Amount |
|---|---|---|
| Account Fees | Account Activity Print Out | $2.00 |
| Account Fees | Account Research (At member's request) | $20.00 per hour |
| Account Fees | Non-Sufficient-Funds/ Returned Item Fee | $25.00 per draft |
| Account Fees | Monthly Service Charge | $2.00 |
| Account Fees | Stop Payment On Credit Union Check | $25.00 |
| Account Fees | Excessive Withdrawal Fee (Share Account) | $5.00 (at the 5th withdrawal in the same month) |
| Account Fees | Faxed Copy of Check/Draft | $2.00 per draft |
| Account Fees | Copy of Check/Draft | $2.00 per draft |
| Account Fees | Returned Item Deposit on FI Other Than Members | $5.00 per item |
| Account Fees | Returned Item Deposit on Member’s Own FI | $25.00 per item |
| Account Fees | Account Closed within 30 Days of Opening | $10.00 |
| Account Fees | Check Printing | Varies |
| Account Fees | Fax | $2.00 |
| Account Fees | Statement Reconciliation | $20.00 per hour |
| Account Fees | Statement Between Cycles | $5.00 per request |