Loan Rates - Auto / Personal / Line Of Credit
Loan Rates — Effective Date July 01, 2011
New & Used Vehicles & Motorcycles
Auto: 90% of Opening Price on Purchase Order or 100% of KBB Wholesale OR with GAP Insurance – 125% of NADA Retail Pricen
| Approx. Term | Annual Percentage Rate (APR) | Daily Periodic Rate |
|---|---|---|
| Up to 36 mos. | As low as 4.50% | 0.0123% |
| Up to 60 mos. | As low as 5.50% | 0.0151% |
| Up to 72 mos. | As low as 6.50% | 0.0178% |
Boat or Plane
| Approx. Term | Annual Percentage Rate (APR) | Daily Periodic Rate |
|---|---|---|
| Up to 60 mos. | As low as 8.00% | 0.0212% |
Share Secured
| Approx. Term | Annual Percentage Rate (APR) | Daily Periodic Rate |
|---|---|---|
| (Variable) Up to 144 mos. | 2.20% APR | .0060274% |
Share Secured Line Of Credit
| Approx. Term | Annual Percentage Rate (APR) | Daily Periodic Rate |
|---|---|---|
| (Variable)** | 3.25% APR | 0.0089% |
Your minimum payment is calculated after each advance as shown below:
| $0.01 - $1,000.00 | $25.00 |
| $1,000.01 - $2,000.00 | $50.00 |
| $2,000.01 - $3,000.00 | $75.00 |
| etc. | (Based on $25.00 per $1,000.00 per month) |
Line Of Credit
| Approx. Term | Annual Percentage Rate (APR) | Daily Periodic Rate |
|---|---|---|
| 12.00% APR | 0.0329% |
Your minimum payment is calculated after each advance as shown below:
| $0.01 - $1,000.00 | $35.00 |
| $1,000.01 - $2,000.00 | $70.00 |
| $2,000.01 - $3,000.00 | $105.00 |
| etc. | (Based on $35.00 per $1,000.00 per month) |
Personal Advances
| Approx. Term | Annual Percentage Rate (APR) | Daily Periodic Rate |
|---|---|---|
| Up to 11 mos. | As low as 6.00% | 0.0164% |
| Up to 12 mos. | As low as 6.50% | 0.0179% |
| Up to 18 mos. | As low as 6.75% | 0.0185% |
| Up to 24 mos. | As low as 7.00% | 0.0192% |
| Up to 36 mos. | As low as 7.50% | 0.0205% |
| Up to 48 mos. | As low as 8.00% | 0.0219% |
| Up to 60 mos. | As low as 8.50% | 0.0233% |
Truth-In-Lending Disclosures
How We Will Calculate Your Balance: We will use a balance computation method called daily balance. See your account Agreement for more details.
Billing Rights: Information on your rights to dispute transactions and how to exercise those rights is provided in your account Agreement.
Variable Rate Share Secured: The Annual Percentage Rate (APR) for new and existing balances will be the dividend rate offered on shares (Index), plus a Margin of 2.00%. The APR will change on the first day of each month to reflect any change in the Index. The APR will never be greater than 18% above the initial rate or the maximum allowed by law, whichever is less. Any increase in the APR will result in more payments of the same amount until what you owe has been repaid.
Variable Rate Share Secured Line of Credit – Minimum payment will be $25.00 per $1,000 outstanding balance: The Annual Percentage Rate (APR) for new and existing balances will be the dividend rate offered on shares (Index), plus a Margin of 3.00%. The APR will change on the first day of each month to reflect any change in the Index. The APR will never be greater than 18% above the initial rate or the maximum allowed by law, whichever is less. Any increase in the APR will result in more payments of the same amount until what you owe has been repaid.
Variable Rate: The Annual Percentage Rate will change during the term of this transaction if the CU’s Share dividend rate (Index) changes. We will add a margin of 2.00% to the index value. The rate is subject to change monthly to reflect any change in the index. Any increase or decrease in the APR will affect the number of monthly payments you will make under the account. Any increase in the APR will take the form of more payments of the same amount until what you owe has been repaid. For example, if your loan was for $7,000 at 9% for 36 months and the rate increased to 10% in one year, you would have to make one additional monthly payment.
Late Charge: Minimum of $5.00 or $5.00% of the Past Due Amount that is more than 15 days late.
Collection Costs: You agree to pay all costs of collection the amount you owe under this Agreement, including court costs and reasonable attorney’s fees.
Filing Fee: You will be charged a lien filing fee at the time of an advance if the credit union takes a security interest in your collateral. The amount of the filing fee will be based upon the amount of fee required by state law for the credit union to obtain a lien on your property. The amount of the filing fee will be disclosed on the voucher.
