FOR ALL CATEGORIES: If the loan request is for new monies in any category below (unsecured, new auto, or used auto), then all rates are applicable as stated.
a.) If the refinanced loan is an e-level, the current rates are effective.
b.) If the current loan was executed within the past 60 days (February 1, 2009) then it will be OK to re-write the loan to the current rates.
For UNSECURED LOANS: c.) If the loan is to refinance a credit union higher rate loan that was executed prior to 2/1/09, then there has to be at lease $1,000 in new monies for the new rate to be applicable.
For NEW AUTO LOANS: c.) If the loan is to refinance a credit union higher rate loan that was executed prior to 2/1/09, then there has to be at lease $3,000 in new monies for the new rate to be applicable. The book value must be within 10% (+-) of the new loan amount to be refinanced. That means the balance can exceed 100% of book value.
For USED AUTO LOANS: c.) If the loan is to refinance a credit union higher rate loan that was executed prior to 2/1/09, then there has to be at lease $2,000 in new monies for the new rate to be applicable. The book value must be within 10% (+-) of the new loan amount to be refinanced. That means the balance can exceed 100% of book value.
The ANNUAL PERCENTAGE RATE you receive for the above accounts will be within the range disclosed above and is based on FICO score AND Term of the loan. Contact the Credit Union for the rate your qualifying rate and monthly payment.
The MINIMUM PAYMENT is based on the ANNUAL PERCENTAGE RATE and the TERM OF THE LOAN.
TERMS: The ANNUAL PERCENTAGE RATES quoted above are for 36, 48, 60 and 72 month terms only.
COLLECTION COSTS: You agree to pay all costs of collecting the amount you owe under this Agreement, including court costs and reasonable attorney fees.
FILING FEES: If you give a security interest in certain types of property, we may charge you a filing fee to perfect our interest in the property. If so the amount of the fee will be disclosed to you at the time you obtain an advance.
LATE PAYMENT FEE: A fee of $20.00 will be charged to your loan balance for every payment that is more than 10 business days late.
NOTES:
a.
A new loan application must be completed for all new loans.
b.
Additions to existing loan balances (secured and unsecured) are considered re-financing and a new loan application must be filled out and submitted.
c.
Effective rate will be based on FICO score.
d.
Maximum amount of a signature loan is $10,000.
e.
Maximum amount of a new or used auto loan is $100,000.
f.
Maximum amount of a share or certificate loan is 100% of balance in respective share accounts. The share accounts will continue to earn dividends.
g.
Minimum monthly loan payment for all loans is $100.
h.
The maximum deductable for all new and used auto loans is $1000.
