Far from Wall Street. Down on Broad Street.
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Personal Loans

Personal Loans

Signature/Household Goods Loan

Effective 8/11/2016

Term of Loan *APR Requirements

12-36 Months 8.00% - 17.99%  

Over 36 Months 9.00% - 17.99%

Share Secured Loans

Effective 8/11/2016

Maximum Term of Loan Formula *APR

12 Months Shares/CD+2.00% above

(any term longer will have to have a matching term CD)

*Annual Percentage Rate

Signature Loan Example 1:

Principal: $1,000

# of Years: 1 (12 months)

Number of payments per year: 12

Base Interest Rate: 8.0

Payment amount: $86.99

Total Interest: $43.86

Signature Loan Example 2:

Principal: $5,000

# of Years: 4 (48 months)

Number of payments per year: 12

Base Interest Rate: 9.0

Payment amount: $124.43

Total Interest: $972.41


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 it 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.