Loan Products
Effective: January 2008
The Annual Percentage Rate (*APR) you receive may be different from the rate disclosed below. The rate is based on certain credit standards. Ask your loan officer for information about how your rate is determined. Rates are disclosed for each advance.
 |
| Loan Type |
Approximate
Term |
Daily
Periodic Rate |
*APR |
Personal Loans
Less Than $2,000 |
24 Months |
0.02192% - 0.04657% |
8.00% - 17.00% |
Personal Loans
Over $2,000 |
36 Months |
0.02602% - 0.04657% |
9.50% - 17.00% |
|
Co-Maker
Over $2,000 |
36 Months |
0.03013% - 0.04657% |
11.00% - 17.00% |
|
Share Secured Loans
Less Than $2,000 |
24 Months |
0.01644% |
6.00% |
Share Secured Loans
Over $2,000 |
36 Months |
0.01370% |
5.00% |
|
Certificate Secured
Less Than $2,000 |
24 Months |
See Below |
+3.00% Above Rate Paid on Deposit |
| |
|
| Loan Type |
Approximate Term |
Daily Periodic Rate |
*APR |
New
Auto
2004 & Newer (to 2008) |
36 Months |
0.01438% - 0.02178% |
5.25% -7.95%* |
60 Months |
0.01904% - 0.04370%
|
6.95% - 15.95%* |
72 Months
For Loans
Over $25,000 |
0.02178% - 0.04643% |
7.95% - 16.95%* |
|
Older
Model Autos
2003 & Older |
36 Months |
0.01904% - 0.02726% |
6.95% - 9.95%* |
60 Months |
0.02329% - 0.04384% |
8.50% -16.00%* |
|
Motorcycles,
Personal Watercraft, Campers, Boat/Mtr/Trl, Farm Equip.
2004 & Newer |
36 Months |
0.01644% - 0.02452% |
6.00% - 8.95%* |
60 Months |
0.02055% - 0.04370% |
7.50% - 15.95%* |
72 Months
For Loans
Over $25,000 |
0.02329% - 0.04643% |
8.50% - 16.95%* |
|
Motorcycles,
Personal Watercraft, Campers, Boat/Mtr/Trl, Farm Equip.
2003 & Older |
36 Months |
0.01904% - 0.02726%
|
6.95% - 9.95%* |
60 Months |
0.02329% - 0.04657% |
8.50% - 17.00%* |
| |
An Application Fee of $10 will be charged on ALL loans, $25 on Quarter Flash loans, whether the loan is approved or not. A Loan Documentation fee of $25 will be charged to all loans issued, You *MUST* be a member before you can apply for a loan.
CERTIFICATE SECURED: The Annual Percentage Rate (APR) will be the dividend rate paid on the Certificate offered as security (PRIM) plus the percentage show in the APR column above. The Certificate must either be renewed until the advance is completely paid or be rolled over into a share account, at which point the advance will become a Share Secured advance and be subject to those terms. Failure to renew the Certificate or roll over to a share account will result in default under the Plan. When the Certificate is renewed, the APR will change to reflect the new dividend rate and any increase in the APR will result in more payments of the same amount until what you owe is repaid.
DELINQUENT LOANS: Whenever your account becomes 60 days or more past due or is 14 days past due for 2 or more months in a calendar year, or you are in default, your ANNUAL PERCENTAGE RATE (APR) on your loan may be increased to 17.75 % APR. A minimum late fee of $20.00 will be added each month for payments not received on or by their due date, the maximum late fee is 1.5% of the amount past due.
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