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Auto
Loans
Your
Federal Employees Credit Union offers new and used car
loans. Our rates and terms are designed with you in mind.
New cars can be financed without a down payment for as long
as 5 years. Of course rates are lower for shorter loan
periods and new cars purchased with a down payment or
trade-in.
Used
autos can be financed up to 5 years depending on the year of
the vehicle. Other terms and conditions also depend on the
year of the vehicle. Our loan officers have the flexibility
to design a car loan that fits your budget and needs.
The
best way to shop for a vehicle is with financing already
approved. Our pre-approval loan program gives our members
the upper hand when negotiating the purchase of a vehicle.
If
you have been offered financing elsewhere, talk to our loan
officers about meeting or beating the loan terms. Many times
we can offer you a loan that will save you hundreds of
dollars. All we ask is that you give us a chance!
Home
Equity Loans
Your
home is probably the most important asset that you own. We
have 2 Home Equity Loan Programs to help you use that asset
for your special needs. And you could possibly qualify for
the tax advantages of this type of loan.
Fixed
Rate Program
This
program is a line of credit program that allows you to use
the equity in your home at a low fixed rate of interest. The
maximum repayment period is 7 years and the maximum draw
period is 5 years. The maximum loan amount is $75,000 or 89%
of the equity available in your home, whichever is less.
For current rates, click
here
Variable
Rate Program
This
is our most popular loan program. It also is a
line-of-credit program with a maximum loan amount of $75,000
or 89% of the equity available in your home. This loan has a
maximum repayment period of 15 years with a 5-year draw
period. The interest rate on this program is a variable rate
with the initial rate depending on the percentage of the
equity you use in your home. The rate can change quarterly,
with a maximum increase or decrease of .50%. The rate is based
on the Wall Street Journal Prime Rate published daily. So
you can always know what the rate is on your loan. For
current rates, click here
VISA
Classic & Gold Credit Cards
Get
worldwide buying power and convenience with a Federal
Employees Credit Union VISA Classic or Gold Credit Card.
With no annual fee, a very low annual percentage rate, a 25
day grace period and credit limits to meet your needs, these
credit cards have all the features you look for in a credit
card.
For
your convenience, credit card payments may be made at any
credit union office. Any and all questions and problems can
be handled at any credit union office by someone you know
and trust.
For
a lost or stolen credit or debit card call 1-800-234-5354 24 hours a
day 7 days a week.
Signature
Home Equity Loans
This
loan program is for those members who qualify for a
signature loan but would like to get the tax savings of a
home equity loan.
Personal
Loans
How
many times have you needed a small loan for home or car
repairs, or to purchase that special piece of furniture
you've been looking for and finally found. Whatever the
reason, our Personal Loan Program fits the need. And at rates and terms you
won't believe!
Personal
Loans can be granted at rates as low as 7.9% A7R. Rates are
based on each member's credit history. In other words, the
rate charged for Personal Loans is determined just for you!
How much more personal can you get?
And
the uses for Personal Loans are almost endless. Members have
borrowed for medical & dental bills, school clothes,
vacations, Christmas, purchase TV's or air conditioners,
repaint the car, adoption expenses, eye glasses, stereos,
etc. Do you have something we can help you with?
Share
Secured Loans
Have
you ever had the need for funds, but really didn't want to
spend your savings? After all it can take a long time to
build up your savings account balance to a level that makes
you feel comfortable. Then use your savings as security for
a loan instead of spending it. And at a rate that you won't
believe. Give us a call to find out what we can do for you!
Signature
Line-of-Credit Loans
Signature
loans without the hassle. Complete one loan application
every two years and set up a line-of-credit loan that is
there when you need it. Advances can be done in a matter of
minutes. How much more convenient can you get?
Overdraft
Protections Loans
This
loan protects your share draft account. If the your checking
account is ever overdrawn, advances automatically occur to
ensure that all of your share drafts are paid. You write
your own loan with a share draft. How easy is that?
Debt
Consolidation Loans
This
loan program is offered to those members who wish to reduce
their monthly payments and/or combine their overall debt.
Members must be in good standing with the Credit Union to be
eligible and are subject to credit qualifications.
Other
Loans
Your
Federal Employees Credit Union offers loans for many
purposes. We have loan programs to finance motorcycles,
boats, recreational vehicles, classic cars, motor homes,
airplanes, all-terrain vehicles, personal watercrafts, etc.
You name it; we'll try to finance it. Give us a call with
your need and let us try to help!
Credit
Disability Insurance Protection
This
insurance protects you in the event you become disabled by a
covered sickness or accident. After the policy waiting
period has passed, your loan payments will be made relieving
you of financial security worries.
Credit
Life Insurance Protection
This
insurance protects your family in the event of your death.
The insured balance of your loan will be paid so your family
will not have to concern themselves with the covered debt.
Mechanical
Breakdown Insurance
Provides
insurance coverage on repairs of most car parts as well as
labor. Available for new or used vehicles at the time of
purchase.
Gap Insurance
Vehicle
values decline rapidly. That’s why your insurance
settlement, in the event of an accident, may not cover your
entire loan balance. Unless, of course, you have Guaranteed
Asset Protection Insurance (GAP).
GAP
is designed to eliminate your unpaid auto loan balance in
the event your vehicle is stolen or damaged beyond repair
(totaled). GAP supplements your primary auto insurance
coverage.
For
the one-time cost of $250.00, GAP covers the difference
between the actual cash value of your car (primary insurance
settlement) and your outstanding loan balance at the time of
your loss, less certain deductions like credit insurance or
service warranty contracts. In the event of a total loss,
GAP will even pay an additional $1,000 toward the purchase
of a replacement vehicle when financed at F.E.C.U.
GAP
is designed for all drivers, whether you finance a new or
used vehicle. It may even cover your insurance deductible
– up to $1,000 – as part of your claim settlement. And,
the cost of GAP can be financed with your loan. GAP keeps
you in the driver’s seat!
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