ANNUAL PERCENTAGE RATES ARE EFFECTIVE 01/01/2016
Risk Based Pricing-Annual Percentage Rate will vary depending on individual creditworthiness and the credit union's underwriting standards. Rates could differ as much as .50% below to 6%higher (maximum 18%).
**All loans are secured by any property specifically pledged and shares on deposit with the Credit Union. In addition ALL loans are cross-collateralized by all property and shares pledged to secure any loan or advance. For example, a car pledged to secure a New Vehicle Subaccount will also secure a Personal Loan. Cross-collateralization does not apply to your home, any Keough or IRA accounts with us or to property defined as household goods under Regulation AA or 12 CFR 706.
***PRIME RATE-3.50% AS OF 12/17/2015.
The rates may change at any time without notice before the stated expiration date.
Collection Costs: You agree to pay all costs incurred by the credit union in collecting any amounts you owe or in enforcing or protecting the credit union's rights under this agreement, including attorney's fees of 20% of the unpaid balance or such greater sum as may be reasonable, and also those costs, expenses and attorneys' fees incurred in any appellate, bankruptcy and post-judgment proceedings, except as limited or prohibited by applicable law.
Late Fees: A late charge of 2% of the loan payment or $25.00, whichever is greater, will be assessed for any payment that is delinquent for 15 days or more.
Filing Fee: You will be charged a lien filing fee at the time of an advance if the credit union takes a security interest in your collateral and is responsible for placing the lien on the title or other securing document. The amount of the filing fee will be based in the amount of the fee required by state law for the credit union to obtain a lien on this collateral. The amount of the filing fee Will be disclosed on the voucher.
Overdraft Protection: Monthly Payment of $25.00 or 3% of balance, whichever is greater. Advances are made in $50 increments. If less than $50 of credit line is available, remaining balance of credit line is advanced.
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