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Installment Loans |
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An installment loan has a fixed interest rate and a fixed payment and can be used to purchase a specific item (such as a car, motorcycle, RV, etc.) for a stated price. The money is paid back on a monthly basis that is determined at the time the loan is requested. If the loan is paid off earlier than the loan states NO penalty is assessed.
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| Auto Loans |
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- New and Used Auto Loans |
| - Terms up to 72 months |
| - Finance up to 100% of NADA Retail Value for qualified buyers |
| - GAP Insurance available |
| - Extended Service Warranties |
| - Credit Life & Disability Insurance available |
| - Obtain a CARFAX History Report |
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| Motorcycle Loans |
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| - Terms up to 66 months |
| - Low, competitive rates |
| - GAP Insurance available |
| - Credit Life & Disability Insurance available |
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| Boats and RV (Recreational Vehicle) Loans |
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| - Terms up to 66 months |
| - Low, competitive rates |
| - Credit Life & Disability Insurance available |
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| Signature Loans |
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| - Maximum loan amount is $5,000 |
| - Terms up to 48 months |
| - No collateral is held as security on this loan |
| - Rate is based on the term of the loan |
| - Credit Life & Disability Insurance is available |
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| Share Secured Loans |
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| - Loans secured by a corresponding balance in a share or certificate account |
| - Terms up to 48 months |
| - Competitive, fixed interest rate |
| - As the loan balance drops, the secure portion of the accounts is available for withdrawal |
| - Does not tie up a car title or other collateral |
| - Helps members trying to establish credit |
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Home Equity Loans
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| A home equity loan may have a variable or fixed rate and can be used for home remodeling, tuition, bill consolidation, etc. You can even refinance your current mortgage to get a lower rate and get rid of PMI (Private Mortgage Insurance). You may choose a fixed rate loan and receive your funds in a lump sum or a variable rate loan that has the flexibility to draw on the funds whenever you choose. |
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| Home Equity Line of Credit |
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| - Variable rate loan - Prime plus .50% |
| - Available in terms up to 10 years with lines of $5,000 - $50,000 |
| - Up to 80% of appraised value minus current mortgage equals the line of credit available |
| - Member receives equity checks to write as needed for $250 or more up to available credit line |
| - Interest accumulates only on the amount you use |
| - Has a 5 year draw and a 5 year repayment schedule |
| - No closing costs |
| - May be tax deductible (Consult your tax advisor) |
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| Home Equity Loan |
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| - Fixed rate loan |
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- Available in terms up to 15 years |
| - Up to 80% of appraised value minus current mortgage equals amount of equity available |
| - Member receives funds in a lump sum |
| - No closing cost |
| - Fixed payment and terms |
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- May be tax-deductible (Consult your tax advisor) |
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