Important Lending Information
All consumer loan rates, except share and CD secured, apply to members with excellent credit and a debt/income ratio of 49% or less and a beacon score of 740 and over.
For beacon scores lower than 740 see the chart below to determine the percentage to be added:
Beacon Score ++Add++
711 - 739 1.00%
676 - 710 2.00%
640 - 675 3.00%
611 - 639 5.00%
575 - 610 8.00%
Under 575 10.00%
Bankruptcy - add 5% to beacon score rate unless the member has always paid on time and has reaffirmed or kept the credit union out of the bankruptcy plan. This additional 5% may be waived by management.
Maximum rate is 18%. Management can match rates, terms and/or payments.
New automobile rates apply to any vehicle not greater than 2 years old and less than 25,000 miles. The credit union offers GAP insurance, however, the member is not required to purchase this insurance from the credit union. If the member purchases GAP insurance from another source, the member must provide the credit union with proof of purchase.
Mobile home loans may only be made to members owning the property where the mobile home is to be placed.
Management may match rates.