Competitive Rates - Fast Turnaround of Applications Convenient, Automatic Repayment
"Credit Rewards" Pricing Program
The Credit Union instituted Credit Rewards Pricing Program designed to assist as many members as possible obtain credit and to offer lower interest rates to those members with excellent credit scores.
We realize that some of our members have experienced some difficulty with their credit in the past. As a result, we or other lenders may have rejected their loan request, forcing those members to pay extraordinarily high rates elsewhere.
The way our Credit Rewards pricing program works is that the rate a member pays will be determined by their credit score.
Members with good credit will receive our very best rates. Other members, who may have had past credit problems, resulting in a low credit score, will be assigned loan interest rates consistent with their credit score.
All loan applicants must meet basic approval criteria and are subject to standard Credit Union underwriting procedures and policies.
"Mortgage Loans"
Whether you want to consolidate credit card debt, remodel, refinance, or purchase your dream home, your credit union can help. We can even help you get cash back for your personal needs! We will work with you to improve your financial future.
Our loans are not "cookie cutter" or "one size fits all" products. Let your credit union help you to evaluate and build a loan product to fit your needs perfectly.
Contact Jim Langan today at (800) 717-0582 or visit our Mortgage Resource Center at www.MtgResourceCenter.com
Personal Loans
You can borrow money from your Credit Union for just about any purpose. Rates of interest vary based on the term of the loan and will change depending on market conditions. The maximum personal loan is $25,000. Fixed and Variable Rates are available.
New and Used Car Loans
The rate of interest depends on the terms of the loan and the amount of down payment. Some of the features of our exceptional car loan programs are: 24-hour approval, pre-approval of loans (before you shop for a car), preferential rates when you put a larger down payment on the vehicle, and application by phone. Terms are up to five years. Take a look at Kelley Blue Book for a price on the new or used car you want to buy.
Auto Lease Buyout Loan
The solution for members who are leasing a vehicle and want to buy it during the lease period or once their auto-lease terms have expired. Fixed and Variable Rates are available.
Maximum Loan Amounts
The maximum loan amount varies according to loan type. Total borrowings with the Credit Union by one member may not exceed $45,000 including the amount of your VISA credit lines with FAFCU.
Loan Amount Limits: For either fixed or variable rate loans or both.
Minimum amount: - $500
Maximum unsecured - $25,000 (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.)
Applicant Qualifications
Loan applicants must be Credit Union members with at least one year of employment for employees, or 48 months of consecutive service for agency force members. You must keep a minimum balance of $100 in your regular share account while your loan is outstanding.
Loan Review and Decision
Loans will be granted to qualified applicants based on their recent credit experience, credit history and repayment ability. Your Credit Union applies a credit criteria which is standard throughout the financial services industry.
Loan Insurance
Optional low cost Credit Life and Disability Insurance are available for every installment loan.
To Apply For A Loan Click Here.
New Statutory Lien Regulation
If you are in default on a financial obligation to us, federal law gives us the right to apply the balance of shares and dividends in your account(s) at the time of default to satisfy that obligation. Once you are in default, we may exercise this right without further notice to you.
Useful Links
New Car Pricing
Used Car Shopping
AAA American Automobile Association
