Loans
Your credit union offers you a wide variety of low-cost loans
from which to choose. Whether you want to purchase your first
home, send a child to college, or buy a new or used vehicle,
you'll borrow smart when you choose your credit union for loan
needs. To be eligible for a credit union loan, some guidelines
have been developed to provide for fairness and to help keep
the credit union running in the most fiscal responsible way
possible.
Among the requirements are:
- Maintain a regular share account balance of $50 per member.
- Complete the loan application thoroughly and truthfully.
- Provide proof of income (pay stubs).
- Disclose all credit whether in your name or with others.
- Have all signatures notarized on applications completed
outside of the credit union office.
- Be a member for at least 30 days.
After you submit your application you will be given a "call
back" time, usually within 24 hours, to determine whether
your loan has been approved. You'll then be given an appointment
time when your loan can be picked up.
LOANLINER
To streamline the lending process, our application system called
"LOANLINER" allows you to complete the major portion
of loan documents just once. After that, you can phone the credit
union to request additional advances which can then be mailed
directly to you. With this system, there is no need to make
repeated visits to the credit union for each loan. Your financial
information is simply updated when you phone. The minimum loan
is $500.
Loan Limits: Each member may qualify for up to $10,000
on a personal loan, provided the ability to repay is proven
and normal credit standards are met.
Vehicle Loans: On new vehicle loans, we will finance
100% of the cost up to 48 months, and 90% of the cost up to
60 months. On used vehicles, we finance up to 80% of the NADA
retail value for a maximum of 48 months.
-For on-line car buying made easy: http://www.autobytel.com.
Loan Insurance: Credit life and disability insurances
are available through CUNA mutual group. If you choose credit
insurance, the premiums are disclosed at the time you apply
for a loan advance and are added to your loan balance monthly.
Rates: See the credit union for current rates.
Loan Menu
American Pride Credit Union makes the followingtypes of loans:
- Personal/Unsecured LoansTotal Equity Loans
- New or Used Vehicle Loans
- Recreational Vehicle Loans
- Motorcycle Loans
- Saver's Reward Loans
- Certificate Secured Loans
- Home Equity Line of Credit Loans
- Home Equity Fixed Rate Loans
- First Mortgage Loans
VISA
As a credit union member, you can take advantage of one of the
best deals in town --- our low annual percenatge rate VISA card!
Our card boasts NO ANNUAL FEE and credit lines as high as
$7,000.
To apply for the card, you must maintain a $50 share balance
and complete a credit application.
Once your application has been reviewed and your credit history
and income has been evaluated in keeping with sound lending
practices, you should receive your card within 10 days.
The minimum payment on our Visa card is 3% of the outstanding
balance or $20, whichever is greater.
And with low cost credit insurance available, your credit
union Visa card will be the only card you'll ever want to
use.
Ask about our special balance transfer rate. You may be able
to trasfer the balances from your high rate credit cards to
our low rate VISA card.
VISA Summary of Terms
Deal yourself the best card and get lower rates with American
Pride Credit Union Visa Card.
| Annual
Percentage Rate (APR) for Purchases |
7.90%, 9.90% or 15.00%
when you open your account, based on your creditworthiness. |
| Annual
Percentage Rate (APR) for Cash Advances |
12.90%, 12.90% or 15.00%
when you open your account, based on your creditworthiness. |
|
APR for Balance Transfers |
7.90%, 9.90% or 15.00%
when you open your account, based on your creditworthiness. |
| Penalty APR and When It Applies |
None |
| Minimum Interest Charge |
None |
| How to Avoid Paying Interest on Purchases |
Your due date is at least 25 days after the close of each billing cycle. We do not charge you interest on purchases if you pay your entire balance by the due date of each month. |
| For Credit Card Tips from the Federal Reserve Board
|
To learn more about factors to consider when applying for or using a credit card, visit the Web site of the Federal reserve Board at:
http://www.federalreserve.gov/creditcard. |
| FEES |
|
Transaction Fees
-
Balance Transfer Fee
Cash Advance Fee
Foreign Transaction Fee |
None
None
1.00% of each transaction in U.S. dollars |
Penalty Fees
-
Late Payment Fee
Returned Payment Fee |
Up to $20.00
Up to $20.00 |
How We Will Calculate Your Balance. We use a method called “average daily balance (including new purchases).”
Effective Date. The information about the costs of the card described in this application is accurate as of August 10, 2010.
This information may have changed after that date. To find out what may have changed, contact the Credit Union at (814) 946-3045.
Other Disclosures
Late Payment Fee - $20.00 or the amount of the required minimum payment,
whichever is less, if you are 15 or more days late in
making a payment.
Returned Payment Fee - $20.00 or the amount of the returned item,
whichever is less.
|
