Loans Links
Consumer Loans
Your credit union is a democratically controlled lending cooperative. This means your deposits primary source of investment is in loans to the membership. We care about your need for financing and work to give same day approvals, discounts and affordable insurance options. We reward your loyalty by giving up to a 1.0% consumer loan rate discount which does not apply to VISA or mortgages. Because we run specials from time to time as a very low rate, they also are exempt from receiving an additional discount.
| A .50% rate discount applies when you have any three of the following: | |
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| A .50% rate discount applies when you have one of the following: | |
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As long as you meet the criteria when you signed for the loan advance and maintain the relationship, you will see a reduction in your principal every month. Just like an extra payment.
- Vehicle and Recreational Loans
- Large Boat & RV Loans
- Signature Loans
- “POP” Loans – Overdraft
- Share Secured Loans
- Christmas Loans
- Single Pay Notes
- Balloon Vehicle Loans
- Loan Insurance Options
- Skip A Pay Program
- VISA
| Vehicle Loans and Recreational Loans | ||
| Terms | APR as low as* | Payment per $1,000 |
| Up to 24 months | 3.75% | $43.32 |
| Up to 36 months 2001 or newer | 4.25% | $29.64 |
| Up to 48 months 2002 or newer | 4.50% | $22.81 |
| Up to 60 months 2005 or newer | 4.75% | $18.76 |
| Up to 75 months 2009 or newer | 5.00% | $16.11 |
| Large Dollar Boats and RV's | ||
| Terms | APR as low as* | Payment per $1,000 |
| Up to 120 months | 6.00% | $10.61 |
| Signature Loans | ||
| Terms | APR as low as* | Payment per $1,000 |
| Up to 12 months | 5.75% | $85.96 |
| Up to 24 months | 6.75% | $44.66 |
| Up to 36 months | 7.50% | $31.11 |
PLUS Overdraft Protection “POP”Loans
Sometimes you just have to meet a payment deadline, and you won’t have the money until payday. If you have direct deposit set up with us, we can set up a loan that will pay for checks that you have written ahead of your paycheck. There is no credit report pulled and you have your gross weekly pay rounded up to the next $100 available to draw on. The minimum payment is $25.00 per $100.00 of the new outstanding balance with a due date of the 28th of the month and is deducted automatically from your checking account. Once it is set up, it can be accessed over and over again. So take a few extra minutes the next time you are in the credit union, bring your recent pay stub and have piece of mind the next time you fall behind.
Share Secured Loans
Your shares with us can also be used as collateral on a loan at a very minimal charge. Any funds with the exception of IRA funds can be used. Your loan advance can be processed in a matter of minutes and you would be able to keep your savings intact. Your loan payments can be amortized for 15 years with a maximum loan term of three years. The rate is only 1.0% over the current three year Certificate of Deposit rate. No credit report is pulled so if you have the cash, you can use it to meet your needs.
Christmas Loans
We know how hard it is to save for Christmas but we also know the rates the department store credit cards charge you, not to mention the exorbitant late payment fees, etc. Our Christmas loan is available October 15th through January 15th for a term of 12 months and is currently as low as* 5.75% APY. With a payment of $85.96 per $1,000 you minimize the number of monthly payments you have to make to all the different card companies and can supplement the Christmas Club savings you have accumulated the past year. So take some of the stress out of Christmas shopping and budget your time and money with our Christmas Loan.
Single Pay Notes
An example of a use for a single payment note is to buy a replacement car while you are trying to sell the old one. This would allow you to have a cash down payment with only one monthly payment on the new car as you will be paying off the note when you sell the old. You may need to pay your winter property taxes but haven’t filed your income tax returns yet. You don’t want that extra payment so you borrow on a single payment note and pay it off when you receive your tax refund.
Balloon Vehicle Loans - Your Low Payment Alternative to Vehicle Leasing!
How would you like the low monthly payments of a lease without all the heavy restrictions and hidden costs associated with leasing? Sound impossible? It’s not! Credit Union Plus’ DrivingSense™ Vehicle Financing program offers just that!
With vehicle lease financing becoming increasingly difficult to find, DrivingSense™ better-than-a-lease financing provides monthly payments that are considerably lower than conventional financing. Unlike a lease, with DrivingSense™ Vehicle Financing you own the vehicle! Other benefits of the DrivingSense™ program include:
- No money down or advanced first and last payment required
- Mileage options of 12,000, 15,000 or 18,000 per year available
- No security deposit or acquisition fees.
- No early payoff penalty
- YOU have the option to sell, trade, refinance vehicle anytime or return the vehicle at loan maturity.
- Enables you to take shorter loan terms and change your vehicle every couple of years!
- And many more!
All current year and prior year vehicles up to three years used qualify. New, current year vehicles can be financed for 24 to 72 months. One-year-old vehicles can be financed for 24 to 60 months, two-year-old vehicles can be financed for 24 to 48 months, and three-year-old vehicles can be financed for 24 to 36 months. Discover the advantages of DrivingSense™ for yourself!
To find out more about DrivingSense™ vehicle financing, call or stop by the credit union today, or visit the DrivingSense™ CarBuilder™ calculator to see for yourself how low your vehicle loan payment will be!
Loan Insurance Options
When you are interested in life insurance, you generally want your debts to be covered. Credit life does just that. The insurance is purchased for the specific loan, with the premium added to the loan each month depending on the current balance and ends when the loan is paid off. Disability insurance can be purchased the same way. The cost is minimal compared to the peace of mind you leave your family.
We have partnered with Member’s Choice to provide Guaranteed Asset Protection (GAP) on automobile loans. This low cost policy can be financed into your auto loan to provide adequate protection in the event of a total loss on your vehicle.
Our extended warranty is a real bargain. This can be purchased for most vehicles five years old or less.
So before you sign on the dotted line at the dealerships, let the credit union really save you some money by pricing out the warranty and insurance products as we look out for your best interests.
Skip a Pay Program
Sometimes you could just use a little extra cash in your budget. Taxes are due, that annual auto insurance billing or a major auto repair. We know it happens. Rather than taking out a new loan, sometimes you can meet your needs by skipping several loan payments for one month. If your consumer loan is current and at least one year old, you may qualify. Contact a loan officer today to see if this is an option for you and get a little stress relief.
* NOTE: Rates shown are the best rates available and vary based on credit score and relationship pricing discount earned. Credit score and debt ratio also determines the down payment required for financing.
VISA
Our VISA program was started in 1987 and has provided stable rates and terms. The interest rate is 12.6% but, we have a beneficial 25 day grace period, so if you paid your account in full with every statement mailing, there are zero interest charges. Our late fee is a low $15.00 and payments can be made at the credit union or on line on our home banking page, with credit showing on your VISA within 24 hours. So get out from under all the ups and downs of the teaser rate cards and apply today knowing exactly what it will cost you.
