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Share/Savings
Rates
How members’ dividends are calculated
Dividends are calculated by the average daily balance method which
applies to a periodic rate to the average daily balance in the account
for that period. The average daily balance is calculated by adding
the balance in the account for each day of the period and dividing
that figure by the number of days in the period. Dividends begin
to accrue on the business day you deposit cash and non-cash items.
If you close you account before dividends are credited, you will
not receive accrued dividends.
Dividend rates are determined by the Board of Directors at the
close of each quarter’s business and are subject to change.
Please call the credit union
for the most recent posted dividend rate.
Loans Offered
The following loan types, categories, rates, terms and fees have
been amended by the Board of Directors and this loan policy is effective
May 29th, 2007.
Automobile
Loans
| Category
I |
| The credit union will offer
100% financing of the negotiated purchase price for vehicles
with less than 35,000 miles with the following loan rates: |
| |
6.00% APR* |
36 months |
| |
6.50% APR* |
48 months |
| |
7.00% APR* |
60 months |
| Category
II |
| The credit union will offer
financing of the negotiated purchase price on vehicles with
mileage between miles and
miles with the following
loan rates and terms applied: |
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| Category
III |
| Any vehicles with mileage exceeding
35,000 miles will be financed at NADA Wholesale Value for the
following rates and terms: |
| |
8.00% APR* |
24 months |
| |
8.50% APR* |
36 months |
| |
9.00% APR* |
48 months |
| Category
IV |
| Models 10 years or less with mileage exceeding 35,000 miles will
be financed at wholesale value for a period of up to 36 months at
a rate of 13.00% APR*. Color photographs and a photocopy of
the original title must be submitted. |
| |
APR* is the Annual Percentage Rate.
TOP
Motorcycles/ATV's
| NEW |
| New motorcycles are financed
at
100%
of negotiated purchase price for the following rate and term: |
| |
6.90% APR*
|
60 months
|
| USED |
| Used motorcycles are financed
at
80%
of the negotiated purchase price for the following rate and
term: |
| |
7.50% APR*
|
36 months
|
| |
8.00% APR*
|
48 months
|
| ATV's -
New titled All-Terrain Vehicles will be financed at 100% of
the negotiated purchase price. |
$2,999 & Below
|
8.90% APR* |
36 months |
|
$3,000 - $4,999
|
8.90% APR* |
48 months |
|
$5,000 - $7,000
|
8.90% APR* |
60 months |
| |
APR* is the Annual Percentage Rate.
TOP
Signature
|
|
| The credit union will offer
unsecured (signature) loans at a rate of 18.00% APR* and terms
based on length of employment and at least (1) one year of continuous
employment: |
| 1-2 years |
Max $1500 |
24 months |
| 2-5 years |
Max $2500 |
36 months |
| 5-10 years |
Max $4000 |
48 months |
| Over 10 years |
Max $7000 |
48 months |
| |
APR* is the Annual Percentage Rate.
TOP
Farm Tractors
| NEW |
| New farm tractors will be financed
at 100% of negotiated purchase price with a maximum loan amount
of $75,000. Rate and term is as follows: |
| |
10.50% APR* |
48 months |
| |
11.00% APR* |
84 months |
| USED |
| Used farm tractors will be financed
at 90% of negotiated purchase price with a maximum loan amount
of $50,000 for the following rates and terms: |
| Up to $20,000 |
11.25% APR* |
48 months |
| Over $20,000 |
11.50% APR* |
84 months |
| |
APR* is the Annual Percentage Rate.
TOP
RECREATIONAL
VEHICLES(RV”S)
| NEW |
| New RV’s will be financed
at 100% of the negotiated purchase price with a maximum loan
amount of $75,000 for the following rates and terms: |
| |
10.50% APR* |
48 months |
| |
11.00% APR* |
84 months |
| USED |
| Used RV’S will be financed
at 90% of negotiated purchase price with a maximum loan amount
of $50,000 for the following rates and terms: |
| Up to $20,000 |
11.25% APR* |
48 months |
| Over $20,000 |
11.50% APR* |
84 months |
| |
APR* is the Annual Percentage Rate.
TOP
Real Estate
|
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| 1st mortgage home loans will
be financed at 90% of appraised value with a maximum loan amount
of $250,000 effective 5/29/07 for the following rates and terms: |
| |
5.75% APR* |
15 year term |
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6.00% APR* |
30 year term |
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APR* is the Annual Percentage Rate.
TOP
Property
Loans
|
|
| 1st mortgage land loans will
be financed at 75% of appraised value with a maximum loan amount
of $75,000 for the following rate and term: |
| |
7.50% APR* |
12 year term |
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8.25% APR* |
15 year term |
| |
APR* is the Annual Percentage Rate.
TOP
Share Secured
Loans
|
|
| Loans secured by shares on deposit shall
bear an interest rate of 5.00% for a period of
three (3) months to
five (5) years (60 months). |
| |
APR* is the Annual Percentage Rate.
TOP |
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