Your Original Jefferson County Credit Union, Since 1939
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Your Original Jefferson County Credit Union, Since 1939 |
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With our new Merit Based Lending program we have combined all our “secured” interest rates. This means that your interest rate (within the same term) depends on your credit score and is the same regardless of whether you are getting a loan for a new or used car, a motorcycle, a boat, an RV or new equipment. Used Equipment rates will be charged 2% higher rates across the board, and used equipment costing over $30,000 will require 20% down or 80 % LTV (whichever is greater)
Loan Rates as of July 1st, 2008
Some restrictions apply to all loans listed below, and all rates are subject to credit approval. This is not a guaranteed representation of loan products offered. Speak to a loan officer to confirm the information presented below and your eligibility. Not all borrowers will be approved for the loans listed below. Rates may change at any time without notice. The index for the Variable Rate Home Equity Loans is the Wall Street Journal Prime Rate plus a margin. Your margin is based on your creditworthiness. There is no periodic cap so there is no limit the rates can change at the time of a rate adjustment. Interest rates are adjusted quarterly, rate floor of 4.5% APR, not to exceed 18% APR. The most recent Index figure available on the 1st of the month prior to the change date is called the current “Index.” Refer to ARM Disclosure for information on Adjustable Rate Mortgages. ARM loans are fixed for the first 3 years then change every year one month after the loan’s anniversary date, based upon the same “Index” and a margin determined by creditworthiness.
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| Secured Loans (Autos, Boats, RV’s, Equipment, etc.) |
Starting at 4.40% | Up to 84 months |
| Signature Vacation Loan | Starting at 6.90% | Up to 12 months |
| Signature Loans & Lines of Credit (With home equity as collateral) |
Starting at 8.90% Starting at 7.90% |
Up to 60 months |
| Classic VISA Credit Card | 13.90% | $300 - $10,000 |
| Platinum VISA Credit Card | 8.90% | $5,000 - $15,000 |
| Signature Home Equity Loan | Starting at 7.90% | Up to 60 months |
| Fixed Rate HELOC | Starting at 7.15% | Up to 60 months |
Variable Rate Preferred HELOC |
Starting at 4.00% | Up to 180 months |
Variable Rate HELOC |
Starting at 4.49% | Up to 180 months |
| Unimproved/Undeveloped Land | Starting at 4.75% | Up to 360 months |
| Manufactured/Mobile Homes | Starting at 6.00% | Up to 240 months |
| (Terms and conditions vary on new or used) | ||
| Fixed Rate Second Mortgages | Starting at 6.45% | Up to 60 months |
| (90% LTV) | ||
| 3/1 Second Mortgage ARM (90% LTV) |
Starting at 3.65% | Up to 180 months |
3/1 First Mortgage ARM |
Starting at 3.50% | Up to 360 months |
| Share or CD Secured | 3.50% over rate | Up to 60 months |
Effective July 1, 2008. Interest Rates and Loan Products may change at any time without notification.
*Loans with terms in excess of 84 months have a 5 year call. This allows the credit union to call the loan due after 5 years at our option.
Minimum Payment Schedule for Line of Credit Accounts
For line of credit accounts, minimum monthly payments are based on the outstanding balance after the most recent advance, as follows:
| Balance After Advance | Minimum Monthly Payment |
| $0.01 - $500.00 | $30.00 |
| $500.01 - $1,000.00 | $48.50 |
| $1,000.01 - $2,000.00 | $97.00 |
| $2,000.01 - $3,000.00 | $105.00 |
| $3,000.01 - $5,000.00 | $120.00 |
| $5,000.01 - $7,500.00 | $180.00 |
| $7,500.01 - $10,000.00 | $240.00 |
Additional Information
Late Charge: If any payment is more than 15 days past due, the Credit Union may charge a late fee equal to 20% of the accumulated interest due. If you are applying for a Home Equity Line of Credit please read or print
the brochure at this link:
http://www.federalreserve.gov/pubs/homeline/
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Savings Federally insured to at least $100,000 by NCUA, an Agency of the U.S. Government. |
Disclosures | We do business in accordance with the Federal Fair Housing Law and the Equal Credit Opportunity Act. |
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