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A Wide Range of Low-Cost Loans for All Your Borrowing Needs
Credit Card
Personal Loan
New Auto Loan
Used/Refinanced Auto Loan
Variable Rate Loan
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Rate Type |
Fixed* |
Variable** |
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Purchase APR |
15.4% |
9.5% |
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Balance Transfer APR |
15.4% |
9.5% |
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Cash Advance APR |
15.4% |
9.5% |
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Penalty APR*** |
18.0% |
18.0% |
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Minimum Interest Charge |
--- |
--- |
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Rate Adjustment
Frequency |
Quarterly |
Quarterly |
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Paying Interest |
25 Days Grace Period**** |
25 Days Grace Period**** |
*The fixed rate APR will not be increased without 45 days advance notice along with the option to opt out of the rate increase.
**The variable rate APR is calculated by adding 6.25% to the U.S. Prime Rate as reported in the Money Rates table of the Wall Street Journal on the first Monday of March, June, September and December. The spread above prime will not be increased without 45 days advance notice along with the option to opt out of the rate increase.
***The Penalty APR applies if an account is 30 days delinquent more than once, or 60 days delinquent once.
****The Grace Period does not apply to Cash Advances or Convenience Checks. |
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Credit Card
Fees |
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Annual Fee |
$20/card (waived for Checking account holders) |
$10/card |
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Late Fee |
$35 |
$35 |
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Over Limit Fee |
$30 |
$30 |
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Return Check Fee |
$35 |
$35 |
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Transaction Fee
(Purchases/Cash Advances) |
None |
None |
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Replacement Card Fee |
$10 |
$10 | |
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For information on credit card terms and definitions please visit http://www.federalreserve.gov/creditcard/
The method of computing the balance for purchases is by average daily balance.
APR- Annual Percentage Rate | |
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A+ (730+) |
11.50% |
6.00% |
3% Above rate on cert. |
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A (680-729) |
12.50% |
6.00% |
3% Above rate on cert. |
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B (640-679) |
15.50% |
6.00% |
3% Above rate on cert. |
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C (600-639) |
18.00% |
6.00% |
3% Above rate on cert. |
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D (550-599) |
18.00% |
6.00% |
3% Above rate on cert. |
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E (549 & below) |
18.00% |
6.00% |
3% Above rate on cert. | |
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| A+ (730+) |
3.99%
(36 monthly payments of approx $29.08 per $1,000 borrowed) |
3.99%
(60 monthly payments of approx $17.96 per $1,000 borrowed) |
Upon Request |
| A (680-729) |
5.00%
(36 monthly payments of approx $29.52 per $1,000 borrowed) |
5.25%
(60 monthly payments of approx $18.53 per $1,000 borrowed) |
Upon Request |
| B (640-679) |
7.00%
(36 monthly payments of approx $30.42 per $1,000 borrowed) |
8.00%
(60 monthly payments of approx $19.50 per $1,000 borrowed) |
Upon Request |
| C (600-639) |
10.00%
(36 monthly payments of approx $31.71 per $1,000 borrowed) |
10.50%
(60 monthly payments of approx $21.00 per $1,000 borrowed) |
Upon Request |
| D (550-599) |
12.00%
(36 monthly payments of approx $33.21 per $1,000 borrowed) |
12.50%
(60 monthly payments of approx $22.41 per $1,000 borrowed) |
Upon Request |
| E (549 & below) |
15.00%
(36 monthly payments of approx $34.70 per $1,000 borrowed) |
15.25%
(60 monthly payments of approx $23.92 per $1,000 borrowed) |
Upon Request | |
| Payments |
Can be made weekly, bi-weekly or bi-monthly. Use the Loan Calculator to Calculate payment or call the Credit Union for payment terms. |
| Down Payment |
0.00% Down Payment, 100% Financing | |
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USED/REFINANCED AUTO LOAN |
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| A+ (730+) |
3.99%
(36 monthly payments of approx $29.08 per $1,000 borrowed) |
3.99%
(60 monthly payments of approx $17.96 per $1,000 borrowed) |
| A (680-729) |
6.50%
(36 monthly payments of approx $30.11 per $1,000 borrowed) |
6.50%
(60 monthly payments of approx $19.10 per $1,000 borrowed) |
| B (640-679) |
8.00%
(36 monthly payments of approx $30.88 per $1,000 borrowed) |
8.50%
(60 monthly payments of approx $20.04 per $1,000 borrowed) |
| C (600-639) |
11.00%
(36 monthly payments of approx $32.27 per $1,000 borrowed) |
11.50%
(60 monthly payments of approx $21.49 per $1,000 borrowed) |
| D (550-599) |
13.00%
(36 monthly payments of approx $33.69 per $1,000 borrowed) |
13.50%
(60 monthly payments of approx $23.01 per $1,000 borrowed) |
| E (549 & below) |
16.00%
(36 monthly payments of approx $35.16 per $1,000 borrowed) |
16.25%
(60 monthly payments of approx $24.45 per $1,000 borrowed) | |
| Payments |
Can be made weekly, bi-weekly or bi-monthly. Use the Loan Calculator to Calculate payment or call the Credit Union for payment terms. |
| Used Car Financing |
100% of NADA Retail Value |
| Lease Buyout Vehicles |
2001 or newer | |
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A+ (730+) |
10.50% |
7.25% |
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A (680-729) |
11.50% |
8.25% |
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B (640-679) |
12.50% |
9.25% |
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C (600-639) |
15.50% |
12.25% |
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D (550-599) |
16.50% |
13.25% |
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E (549 & below) |
16.50% |
13.25% | |
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The variable rate loan is based on the U.S. Prime Rate as published by the Wall Street Journal, plus the % above Prime Rate as listed above. | |
Note
The interest rates on all fixed and variable rate loans except VISA Platinum Credit Cards are 0.50% higher when loans are not repaid via Payroll Deduction or Direct Deposit.
The interest rate on loans (excluding variable rate loans and credit cards) remains fixed through the terms of repayment, but may change upon the event that loan payments are not made in accordance with the loan terms. Members will be notified if they are in bad standing. The APR will not change without prior notification.
Loan Amount Limits: For either fixed or variable rate loans or both.
Minimum amount: - $500
Maximum unsecured - $15,000 (Includes VISA credit limit)
Maximum Car Loan(s) - $60,000
Maximum Total Indebtedness to Credit Union - $60,000
(Includes VISA credit limit but does not include share-secured amounts.)
Car Loans
New Car Loan Rates apply to 2009 previously untitled vehicles and demos purchased from a dealer. The minimum down payment required is 0%.
Used Cars must be purchased from a car dealer. You may apply for a loan not to exceed 100% of the NADA average retail value. The minimum amount financed for a five year term is $7,500.
Amount financed on New or Used Car Loans and on Auto Lease Buyout Loans does not include tax, tags or extended service agreements.
Other Requirements
A copy of the Dealer Invoice showing the Vehicle Identification Number (VIN) and the year, make, model and color of the vehicle to be financed.
A copy of the Insurance Declarations listing Financial Assurance Federal Credit Union as Loss Payee. The coverage should include Fire, Theft, Comprehensive and Collision with a maximum deductable of $500.
Send us Your Questions/Comments About Loans
The following dividend rates have been approved by the Credit Union Board of Director for the Fourth Quarter, 2011.
You will be paid the dividend rate below for the quarter ending December 31, 2011. Rates and yields are annualized. Rates apply on those days that balances fall within the listed levels. Dividends are credited and compounded quarterly therefore the rate may change after the account is opened.
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