Loans


As a member of a credit union, you are eligible to apply for a loan.

 

Loan eligibility requirements are available upon request, but first and foremost, the loan must clearly be of benefit to you and your family. Each loan will be considered on its own merits.

 

Remember that loans granted to eligible borrowers are made to improve your financial well-being as well as that of your family. You will be using money that belongs to fellow credit union members. You owe a legal and moral duty to repay the loan as agreed. The credit union depends on this loyalty.


Interest Rates

 

No interest is added to the loan when you sign the note and there is no penalty for repaying the loan ahead of scheduled payment periods. The sooner you repay the loan, the less it costs. Interest is computed from the date of the current payment on the unpaid principle balance.

 

A list of our current loan interest rates can be found in the right column of this page.

 

Insurance

 

All loans granted to insurable borrowers are covered by loan protection insurance at no additional cost to the borrowing member. Generally speaking, the debt dies with the debtor. However, there are some limitations. The maximum insurable limit is $20,000.00 and no coverage is available after the borrower reaches the age of 70.

Current Rates

 

Share Certificates

Term

6 months

12 months

Rate

.65% / .6519% APY

.75% / .7526% APY

Share Dividends

Amount

$100 - $500

$500 - $5000

$5000 +

Rate

0.15%

0.35%

0.50%

New Vehicle & Motorcycle

Credit Score

Tier 1

Tier 2

Tier 3

Rate

2.50%

4.50%

6.50%

Used Vehicle & Motorcycle

Credit Score

Tier 1

Tier 2

Tier 3

 

Rate

2.95%

4.95%

7.50%

Signature Loans

Credit Score

Tier 1

Tier 2

Tier 3

 

 

 

Rate

9.50%

11.50%

13.50%

 

 

More About Loans