Loans and CD rates, RPI Employees' Federal Credit Union

Loans
April 1, 2008

Loan Eligibility

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 (%)
Unsecured Summer Special
$1,500	12	7.00
Unsecured 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

APR (%)	Max Term (months)
Not to exceed shares. Signature and Restrictions on Withdrawals
4.25	36
4.75	48
5.00	60

Vehicles, Boats/RV's

Loan type	Amount	Term (months)	APR (%)
New vehicles (2007-2008)
		36	4.25 - 5.25
		48	4.75 - 5.75
		60	5.00 - 6.00
	$25,000+	72	5.25
Pre-owned vehicles (2004-2007)
	Up to 100% NADA Book value	36, 48, 60	5.25 - 6.25
	$30,000+	72	5.75
Pre-owned vehicles (2001-2003)
	Up to 100% NADA Book value	36, 48	5.25 - 6.25
	$25,000+	60	5.75
Boats/RV's Only	$35,000+	84	5.75
Boats/RV's Only	$45,000+	96	6.25

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 $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.

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

9:30am-2:30pm
(Wed: 11:30-2:30pm)
Exceptions
May 26,2008
Memorial Day
July 4, 2008
Independence's Day

Member institutions

Chartered and serving the Capital District since 1978.

Loans April 1, 2008