Loan Rates Upcoming
|Vehicles||Fixed Rate APR* Term|
|NEW 2017-2018||as low as 3.50% up to 72 mos.|
|USED 2014-2016||as low as 4.25% up to 60 mos.|
|USED 2011 – 2013||as low as 5.00% up to 48 mos.|
|USED 2010 – OLDER||as low as 6.00% up to 30 mos.|
|2017 – 2018||as low as 6.00% up to 66 mos.|
|2014 – 2016||as low as 7.00% up to 48 mos.|
|2013 & Older||as low as 8.00% up to 30 mos.|
|RV’s, Boats & Travel Trailers|
|2017 – 2018||as low as 6.75% up to 120 mos.|
|2014 – 2016||as low as 7.75% to 84 mos.|
|2013 & Older||as low as 9.25%p to 48 mos.|
|Titled Goods – Jet Ski & ATV|
|2017 – 2018||as low as 6.75% up to 48 mos.|
|2016 & Older||as low as 7.75% up to 36 mos.|
|Untitled Goods – Snowmobiles, Tractors, Etc.|
|New||as low as 8.25% up to 60 mos.|
|Used||as low as 9.25% up to 48 mos.|
|Signature Loans||as low as 8.75% up to 36 mos.|
Loan Amounts Determines Term
|Share Certificate Loan||2% Over CD Rate|
|Home Equity Lines of Credit*||5.00% Variable
|Second Mortgage*||as low as 4.75 % Fixed Closed-End 1-5 years|
|Second Mortgage*||as low as 6.50% Fixed Closed-End 6-15 years|
|*Second Mortgage interest rate based on personal credit score applies only to 1 – 5 year loans.|
|*Will Loan up to 80% of Appraisal Value Minus any First Mortgage
HOME EQUITY LINES OF CREDIT INFORMATION
ANNUAL FEE: $50.00 MINIMUM ANNUAL PERCENTAGE RATE: 5.00% APR ; MAXIMUM ANNUAL PERCENTAGE RATE: 13.50%APR
MINIMUM PAYMENT REQUIREMENTS: At the time of each credit advance a payoff period will be established. At the time of the credit advance a payoff period of 180 monthly payments will be used to calculate your payment. The payoff period will always be the shorter of the payoff period for your outstanding balance or the time remaining to the final payment date. Your payment will be set to repay the balance after the advance, at the current Annual Percentage Rate, within the payoff period. Your payment may also change if the Annual Percentage Rate increases. Each time the Annual Percentage Rate increases we will review the effect of increase has had on your plan. If the Annual Percentage Rate has increased so much that your payment is not sufficient to repay the balance within the payoff period, we will adjust your payment to repay the balance within the original payoff period. Your payment will include any amounts past due and any amount by which you have exceeded your credit limit, and all other charges. Your payment will never be less than $100.00, or the full amount you owe.
ANNUAL PERCENTAGE RATE:When Rates/Index Change: We will determine the Daily Periodic Rate and the corresponding Annual Percentage Rate as follows: We start with an independent index, (the “Index”), which is the Prime Rate as published in the Wall Street Journal. When a range of rates has been published, we use the highest. We will use the index value available to us as of the first day of each month. To determine the Periodic Rate that will apply to your account, we add a margin as disclosed above to the value of the index, then we divide this sum by the number of days in a year (365). To obtain the Annual Percentage Rate we multiply the Daily Periodic Rate by the numbers of days in a year (365). This result is the Annual Percentage Rate. The Annual Percentage Rate includes only interest and no other costs.
The Daily Periodic Rate and the corresponding Annual Percentage Rate on your credit line will increase or decrease as the index increases or decreases from time to time. The Annual Percentage Rate can change quarterly on the first of January, April, July and October. The Annual Percentage Rate cannot increase or decrease more that two (2) percentage points in any one year period. The minimum Annual Percentage Rate that can apply during the plan is five (5.00%). The maximum Annual Percentage Rate that can apply is 13.50% or the maximum permitted by law, whichever is less.
The Credit Union has the right to waive an increase in the Annual Percentage Rate on any change date, but such a waiver shall not be construed as a waiver of the Credit Union’s right to return to the full rounded Index value plus margin.
FINANCE CHARGE: All activity in the Plan during each monthly period (Cycle) including all new advances, posted to the account during the Cycle will be subject to a finance charge from the date an advance is posted to your account and will continue to accrue until the date of payment. There is no “free ride period” which would allow you to avoid a finance charge on advances. The finance charge will be posted to your account as payments are received and will be figured by applying the applicable daily periodic rate to the daily balance for your account. The daily balance is the outstanding account balance at the end of each day. The balance used to calculate the finance charge is the actual balance in the Account each day after credits have been subtracted and new advances and other charges have been added. It does not include any unpaid late charges and finance charges. The finance charge for each day of the cycle is then figured by multiplying the daily balance in the account by the appropriate daily periodic rate. The sum of these amounts equals the Finance Charge.
CHARGES TO YOUR LINE: The Credit Union may charge your account to pay fees and costs that you are obligated to pay as part of the Plan. Your account could also be charged to pay property insurance as required by the Plan. At the Credit Union’s option, we can charge your Credit Line to pay any costs or expenses to protect our security interest in the property, including paying delinquent property taxes and curing defaults by you under any existing liens. Charged amounts will decrease your available credit line.
OTHER CHARGES: Filing fees are required to perfect the Credit Union’s security interest in the Property. Other fees such as an appraisal fee may be required whenever the property’s fair market value is assessed. Charges for any fees related to this loan are disclosed in this Agreement. The Credit Union at its option, may appraise the property at anytime while this Agreement is in effect