Effective January 1, 2013. Rates subject to change.
Loan interest rates could be as low as 1.99% APR (annual percentage rate) up to 17.95%. The actual rate will depend on your individual credit grade (A-B-C-D-F) and the collateral age / value if considered.
We have adopted "risk-based" pricing in order to become the lender of choice for all our members, by offering the best possible rate based on each individual's credit history / score. Certain members represent more risk than others. Less creditworthy members benefit by qualifying for a loan with our Credit Union instead of resorting to higher-cost alternatives such as finance companies. Members with good credit credit history can qualify for a loan at a competive rate with us so they do not have to turn to other financing sources.
Other factors are involved (disposable income, debt-to-income ratio, unsecured credit, etc.)
Contact the Credit Union for more information