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Installment Loans
An installment loan has a fixed interest
rate and a fixed payment and can be used to purchase a specific item (such as a car, motorcycle, RV, etc.) for a stated price.
The money is paid back on a monthly basis that is determined at the time the loan is requested. If the loan is paid off earlier
than the loan states NO penalty is assessed.
Auto Loans
- New and Used Auto Loans
- Terms up to 72 months
- Finance up to 100% of NADA Retail Value for qualified buyers
- GAP Insurance available
- Extended Service Warranties
- Credit Life & Disability Insurance available
Motorcycle Loans
- Terms up to 66 months
- Low, competitive rates
- GAP Insurance available
- Credit Life & Disability Insurance available
Boats and RV (Recreational Vehicle) Loans
- Terms up to 66 months
- Low, competitive rates
- Credit Life & Disability Insurance available
Signature Loans
- Maximum loan amount is $5,000
- Terms up to 48 months
- No collateral is held as security on this loan
- Rate is based on the term of the loan
- Credit Life & Disability Insurance is available
Share Secured Loans
- Loans secured by a corresponding balance in a share or certificate account
- Terms up to 48 months
- Competitive, fixed interest rate
- As the loan balance drops, the secure portion of the accounts is available
for withdrawal
- Does not tie up a car title or other collateral
- Helps members trying to establish credit
Home Equity Loans
A home equity loan may have a variable or fixed rate and can be used for home
remodeling, tuition, bill consolidation, etc. You can even refinance your current mortgage to get a lower rate and get rid
of PMI (Private Mortgage Insurance). You may choose a fixed rate loan and receive your funds in a lump sum or a variable rate
loan that has the flexibility to draw on the funds whenever you choose.
Home Equity Line of Credit
- Variable rate loan - Prime plus .50%
- Available in terms up to 10 years with lines of $5,000 - $50,000
- Up to 80% of appraised value minus current mortgage equals the line of credit
available
- Member provided with equity checks to write as needed for $250 or more up
to the available credit line
- Interest accumulates only on the amount you use
- Has a 5 year draw and a 5 year repayment schedule
- No closing costs
- May be tax deductible (Consult your tax advisor)
Home Equity Loan
- Fixed rate loan
- Available in terms up to 15 years
- Up to 80% of appraised value minus current mortgage equals amount of equity
available
- Member receives funds in a lump sum
- No closing cost
- Fixed payment and terms
- May be tax-deductible (Consult your tax advisor)
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