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NAPFE Credit Union- Loans & Interest Rates
|
Amount
|
Annual Rate
|
Term
|
|
$500 - $4,000
|
15% APR
|
Up to 36 months
|
LINE OF CREDIT
|
Amount
|
Annual Rate
|
Term
|
|
$2,000 - $15,000
|
15% APR
|
Up to 48 months
|
|
Amount
|
Annual Rate
|
Term
|
|
$500 - A/C balance
|
3% above collateral rate
|
60 months
|
AUTOMOBILE LOANS
3% pledge plus a Lien on the Auto Title
Maximum amount: $30,000
|
New Car Amount
|
Amount Financed
|
Terms
|
|
$500 to $15,000
|
100% of purchase price
|
60 months
|
|
$15,001 to $30,000
|
90% of purchase price
|
Up to 60 months
|
|
Loan Terms
|
Rate
|
|
36 months
|
10% APR
|
|
48 months
|
11% APR
|
|
60 months
|
12% APR
|
|
Used Autos (6 Years old or less)
|
||
|
Amount Financed
|
Rate
|
Term
|
|
80% retail value of Blue or Red Book
|
13% APR
|
36 months
|
FOR APPLICANTS WHOSE CREDIT REPORT SHOWS NO BANKRUPCY, JUDGEMENTS, LIENS OR COLLECTION ITEMS AND WITH NO ITEM ON THEIR CREDIT REPORT HIGHER THAN A TWO (2) WITH AT LEAST TWO 1'S TO OFFSET AND WITH INCOME TO DEBT RATIO NOT EXCEEDING 45%, THE FOLLOWING PREFERRED RATES APPLY:
|
Amount
|
Annual Rate
|
Term
|
|
$500 - $4,000
|
11% APR
|
Up to 36 months
|
|
Amount
|
Annual Rate
|
Term
|
|
$2,000 - $15,000
|
11% APR
|
Up to 48 months
|
|
Amount
|
Annual Rate
|
Term
|
|
$500 - A/C balance
|
3% above collateral rate
|
60 months
|
Automobile Loans
3% pledge plus a Lien on the Auto Title
Maximum amount: $30,000
|
New Car Amount
|
Amount Financed
|
Terms
|
|
$500 to $15,000
|
100% of purchase price
|
60 months
|
|
$15,001 to $30,000
|
90% of purchase price
|
Up to 60 months
|
|
Loan Terms
|
Rate
|
|
24 months
|
6% APR
|
|
36 months
|
7% APR
|
|
48 months
|
8% APR
|
|
60 months
|
8.5% APR
|
|
Used Autos (6 Years old or less)
|
||
|
Amount Financed
|
Rate
|
Term
|
|
80% retail value of Blue or Red Book
|
13% APR
|
36 months
|
TOTAL LOANS TO ANY ONE MEMBER SHALL NOT EXCEED $30,000.
To apply for Signature Loans, Line of Credit, Share
Secured Loans and Automobile Loans:
- You must be a member of the NAPFE Union and NAPFE
Federal Credit Union for a period of not less than ninety (90) days
to be eligible to apply for a loan.
- You must complete a loan application, answer all
questions; list all your creditors. Loan applications will be returned
to applicant if all information is not listed.
- You are required to pledge 20 % of the Signature
Loan amount requested; 25 % of Line of Credit amount requested; and
100 % of the Share Secured amount requested; 3 % of Auto Loan requested,
in addition to your $30.00 Membership Share.
- You must attach the most current payroll stub to
your application for verification of employment.
- Complete Payroll Deduction Application Form (Federal
Employees - Green Form 1199A; Postal Employees - Black Postal Form 1199A)
to cover Loan Payment and/or Dues, if applicable.
- Failure to meet any of the above requirements will
result in delay or disapproval of loan request.
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