Loans
April 2014

Loan Eligibility

Apply now! [PDF 104K]

Complete this loan application (opens new window; PDF 104K) inside your browser window, print, sign and mail it to us.

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!

Use this calculator (opens new window) to help determine which loan or savings plan is right for you.

Specials

Amount (up to) Max Term (months) APR (%)
Seasonal Special
$1,500 12 7.00
Manager's Special
$3,000 12 - 18 7.00 - 8.00

Loan Type: Unsecured

Amount of loan Max Term (months) APR (%)
Up to $10,000 12 8.00 - 9.00
Up to $10,000 24 8.50 - 9.50
Up to $10,000 36 9.00 - 10.00
Up to $10,000 48 9.50 - 10.50
Up to $10,000 60 10.00 - 11.00
$10,000-$20,000 60 11.00

Eligibility for Unsecured Loans

Amount of Loan Time Requirement
Up to $1,000 90 days as a member
Up to $3,000 12 months as a member
Up to $5,000 24 months as a member
Up to $7,500 36 months as a member
Up to $20,000 60 months as a member

Loan Type: Share-Secured Loan

Not to exceed shares. Signature and Restrictions on Withdrawals
APR (%) Max Term (months)
1.99 36
2.01 48
2.03 60

Vehicles,

Loan type Amount Term (months) APR (%)
New vehicles (2013 - 2014)
36 1.99 - 4.59
48 2.01 - 5.21
60 2.03 - 5.83
$25,000+ 72 2.05 - 6.45
Pre-owned vehicles (2010-2013)
Up to 100%
NADA Book value
36 2.49 - 5.09
Up to 100%
NADA Book value
48 2.51 - 5.71
Up to 100%
NADA Book value
60 2.53 - 6.33
$30,000+ 72 2.55 - 6.95
     
Pre-owned vehicles (2007-2009)
Up to 100%
NADA Book value
36 2.49 - 5.09
Up to 100%
NADA Book value
48 2.51 - 5.71
$25,000+ 60 2.53 - 6.33
     
     

Boats/RV's

New, 2013 - 2014 Boats/RV's Only

     
    36 4.25 - 5.25
    48 4.75 - 5.75
    60 5.00 - 6.00
  $25,000+ 72 5.25
  $35,000+ 84 5.75
  $45,000+ 96 6.25
Pre-owned, 2010-2013 36 to 60 months   5.25 - 6.25
  $30,000+ 72 5.75
Pre-owned, 2007-2009 36 to 48 months   5.25 - 6.25
  $25,000+ 60 5.75

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 $10.00 charge to run your credit report. Rates and terms are subject to change without notice.

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 $20K 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.

Share-secured loans will always get the best rate.

Rates and terms are subject to change without notice.  Automobile and share-secured loan rates are indexed to the prime lending rate—3.25% as of July 1, 2010.

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.

Contact us

  • (518) 276-6593
  • (518) 276-6715 fax
  • 313 West Hall, RPI
    110 8th Street
    Troy NY 12180-3590
  • Email

Hours

  • 9:00am-2:30pm
    (Wed: 11:30-2:30pm)
  • Exceptions
  • 02/17- President's Day
  • 05/26- Memorial Day

Member institutions

National Credit Union Administration

All Rights Reserved. RPI Employees' Federal Credit Union