LOAN RATES AND REPAYMENT SCHEDULES
For application click Loan Application
LOAN APPLICANT - must be a member of the Credit Union and must have a minimum balance of $50.00 in regular Share Savings Account. Each loan applicant is considered on his own merits (ability to repay, debt ratio, credit report, etc.).
OPEN-END SIGNATURE LOANS - Maximum $10,000.00 with no VISA loan.
An open-end loan is one in which you are approved for a certain limit up to $10,000.00. Any time the balance is below your credit limit, you can get additional money up to your approved limit by simply requesting it through BAPS (audio response), through Internet Home Banking or calling the Credit Union. An open-end loan can be used for overdrafts from your Share Draft/Checking Account. Applications are updated every two years.
- Annual Percentage Rate* 15.00%
- Daily Periodic Rate 0.041095%
Repayment Schedule: Up to 36 months approximate terms.
| Amount |
Monthly |
Biweekly |
| $500 or less |
$32.00 |
$15.00 |
| $501 to $1,000 |
$41.00 |
$19.00 |
| $1,001 to $1,500 |
$53.00 |
$25.00 |
| $1,501 to $2,000 |
$70.00 |
$33.00 |
| $2,001 to $2,500 |
$87.00 |
$41.00 |
| $2,501 to $3,000 |
$105.00 |
$49.00 |
| $3,001 to $3,500 |
$122.00 |
$57.00 |
| $3,501 to $4,000 |
$139.00 |
$65.00 |
| $4,001 to $4,500 |
$157.00 |
$73.00 |
| $4,501 to $5,000 |
$174.00 |
$81.00 |
| $5,001 to $6,000 up to 48 months approximate terms. |
| $6,001 to $10,000 up to 72 months approximate terms. |
SHARE SECURED LOANS - Loans secured by savings - no maximum
- Annual Percentage Rate* 4.00%
- Daily Periodic Rate 0.010958%
- Repayment Schedule: Up to 5 years approximate terms.
VACATION LOANS - Available on June 1st through April 30th - maximum $2,000.
- Annual Percentage Rate* 8.00%
- Daily Periodic Rate 0.021917%
- Repayment Schedule: Up to 12 months approximate terms.
CHRISTMAS LOANS - Available on October 1st through December 31st - maximum $2,000.
- Annual Percentage Rate* 8.00%
- Daily Periodic Rate 0.021917%
- Repayment Schedule: Up to 12 months approximate terms.
COMPUTER LOANS - Up to $2,500
- Annual Percentage Rate* 10.00%
- Daily Periodic Rate 0.027397%
- Repayment Schedule: Up to 24 months approximate terms.
For application click Loan Application
All rates are accurate as of 04/19/2007 and subject to change at any time by the Board of Directors.
VACATION LOANS - Available on February 1st through September 30th - maximum $2,000.
- Annual Percentage Rate* 8.00%
- Daily Periodic Rate 0.021917%
- Repayment Schedule: Up to 12 months approximate terms.
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