LOAN and CD RATES
Ocotber 2006
Loan Eligibility: Must
be a member at least 30 days. You must be employed by the sponsor
for 180 days. No exceptions. Time requirements refers to continuous
employment, not necessarily with sponsor. Retirees are considered
employed!
Unsecured Fall Special
| APR
(%) |
Amount
up to |
Max
Term (Months) |
| 7.00 |
$1,500 |
12 |
Unsecured Manager's Special
| APR
(%) |
Amount
up to |
Max
Term (Months) |
| 7.00 - 8.00 |
$3,000 |
12 -18 |
New Long Term Loans!
| Loan
Type |
Amount
of Loan |
%
Financed |
Term
|
APR
|
|
New Vehicles 05-06
|
|
|
|
|
|
All
|
$25K+
|
100 |
72 |
5.50 |
|
Boats/RV's
|
$35K+
|
100 |
84 |
6.00 |
|
Boats/RV's
|
$45K+
|
100 |
96 |
6.50 |
| |
|
|
|
|
|
Pre-Owned
|
|
|
|
|
|
(all vehicles) 03+
|
$30K+
|
100 of book value |
72 |
5.50 |
|
(all vehicles) 00 - 02
|
$25K+
|
100 of book value |
60 |
5.50 |
|
Unsecured
|
$10-20K
|
|
60 |
11.00 |
Eligibility for Unsecured Loans
| Amount
of Loan |
Time
Requirement |
| $500-$1,000 |
90 days as a member |
| $500-$3,000 |
12 months as a member |
| $500-$5,000 |
24 months as a member |
| $500-$7,500 |
36 months as a member |
| $500-$20,000 |
60 months as a member |
Loan Type: Unsecured
| APR
(%) |
Amount
of Loan |
Time
Requirement |
Max
Term (Months) |
|
8.00 - 9.00
|
$500-$10,000
|
see above |
12 |
|
8.50 - 9.50
|
$500-$10,000
|
see above |
24 |
|
|
|
|
|
|
9.00 - 10.00
|
$500-$10,000
|
see above |
36 |
|
9.50 - 10.50
|
$500-$10,000
|
see above |
48 |
|
|
|
|
|
|
10.00 - 11.00
|
$500-$20,000
|
see above |
60 |
Loan Type: Share-Secured Loan
Not to exceed shares. Signature and Restrictions
on Withdrawals
| APR
(%) |
Max Term
(Months) |
| 4.00 |
36 |
| 4.50 |
48 |
| 4.75 |
60 |
Loan Type: New Vehicle Loan
Copy of Dealers' PO and proof of insurance required.
Up to 100% purchase price 2005-2006.
| APR
(%) |
Max Term
(Months) |
| 4.50 - 5.50 |
36 |
| 5.00 - 6.00 |
48 |
| 5.25 - 6.25 |
60 |
Loan Type: Used Vehicle Loan
100% NADA Book. Copy of Dealers' PO and proof
of insurance required.
| Year |
APR
(%) |
Max
Term (Months) |
| 2003-2006 |
5.50 - 6.50 |
36 |
| 2003-2006 |
5.50 - 6.50 |
48 |
| 2003-2006 |
5.50 - 6.50 |
60 |
| 2003-2006 |
5.50 - 6.50 |
72 ($30,000 +) |
| 2001-2003 |
6.00 - 6.50 |
60 ($25,000 +) |
Used Car Loan (2002-2000 only)
100% NADA Book. Copy of Dealers' PO and proof
of insurance required.
| APR
(%) |
Max Term
(Months) |
| 5.5 - 6.5 |
36 to 48 |
Don't forget we also finance boats, RV's and
PWC's!
CD Rates
|
Rate
|
Max Term (Months)
|
| 2.25% |
6 months |
| 3.00% |
12 months |
| 3.50% |
24 months |
Minimum deposit: $2,500.00
Please contact Joanne or Sheila for the current CD rates and conditions.
Existing loans must have at least 12 Monthly Payments (or
half paid) made before re-applications will be considered by the
loan officer or the credit committee - All loans are disbursed as
funds are available - to credit worthy applicants - interest is
charged on the unpaid balance only - compare our monthly payments
to other financial institutions!
Members must credit qualify and be in good standing to receive
the lower rate. Share-secured loans will always get the best rate.
Also please remember that there will be a $6.00 charge to run your
credit report. Rates and terms are subject to change without notice.
Free Life Insurance coverage on all credit
union loans.
1Annual Percentage Rate
2Minimum Monthly Payment - $50.00. Note: You must
be a member of RPIEFCU for 30 days in
order to take out a loan of any kind. You must be employed by the
sponsor for 180 days. 3Used Car Loan - Car must be purchased
from a licensed car dealer.
Approval of loans over $25K will require a minimum score on the
standard credit reports used by RPIEFCU. The required score will
be set by the Credit Committee, subject to review by the Board of
Directors.
Our rates are competitive with other financial institutions. Your
payments are lower because interest is charged on the declining
balance and remember no payment books and mailing expenses..
Select your vehicle from a licensed dealer, get a purchase price
and call the office at 276-6593 to see what your credit union can
do for you. We think you'll be pleasantly suprised!
Note: If you have a "Loan Special," it must be paid off before
you can qualify for another. Loan interest rates are set at the
time the loan is disbursed. Any subsequent reductions in rates are
not applicable to existing loans.
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