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Credit-Union

Loan Rates

Effective 4/03/2012

Loan Rates:
*Annual Percentage Rates subject to change
APR*

APR*

 

 

 


Car/Truck

 

% of Purchase Price
including tax, license
Term
Maximum
Standard
Score 620-719

Well Qualified**
Score > 720

 
New100%
100%
100%
100%
3 Year
4 Year
5 Year
6 Year
4.70%
4.95%
5.20%
5.45%

3.00%
4.00%
4.25%
4.50%

 
Used80%
100%
80%
100%
80%
100%
3 Year
3 Year
4 Year
4 Year
5 Year
5 Year
5.00%
5.25%
5.25%
5.50%
5.25%
5.50%

3.00%
3.50%
3.50%

4.00%
4.05%
4.55%

 
Owned
Vehicle
80%
80%
80%
3 Year
4 Year
5 Year
N/A
N/A
N/A

3.50%
4.00%
4.55%

 
Recreation Vehicles Category 1
(Motor homes, Trailers - travel, 5th wheel, or horse, boats, campers)
New80%
100%
6 Year
6 Year
6.00%
7.00%

5.50%
6.50%

 
Used80%6 Year7.00%

6.50%

 
Recreation Vehicles Category 2
(snowmobiles, jet skis, 4-wheelers, off-road motorcycles, other)
New80%
100%
4 Year
4 Year
7.00%
8.00%

6.50%
7.50%

 
Used80%4 Year8.00%

7.50%

 
Motorcycle (Street)
New80%
100%
5 Year
5 Year
6.00%
7.00%

5.50%
6.50%

 
Used100%5 Year7.00%

6.50%

 
Signature Loan (Unsecured)Score
620 - 719

Score
> 720

Score
>745

SPECIAL - UP TO $10,000

$1,000 -
$4,999

Payroll Deduction
With non CWU
auto payment
W/o Payroll Deduction

3 Year
3 Year

3 Year

10.00%
12.00%

12.00%

8.00%
10.00%

12.00%

5.00%
7.00%


N/A

$5,000 - $10,000



Payroll Deduction
W/non CWU autopayment
Payroll Deduction
W/o Payroll Deduction
 

3 Year
3 Year

4 Year
4 Year
10.00%
12.00%

10.00%
12.00%

8.00%
10.00%

8.00%
12.00%

5.00%
7.00%


N/A
N/A

$10,000 - $20,000


Payroll Deduction
With non CWU
auto payment
W/o Payroll Deduction

4 Year
4 Year

4 Year

 

N/A
N/A

N/A

 

8.00%
10.00%

12.00%

N/A
N/A

N/A

PLOC (Personal Line of Credit)Score < 720

Score > 720

 
$300 - $1,000Payroll Deduction6 Months11.00%

9.50%

 
$1,000 - $3,000Payroll Deduction
W/o Payroll Deduction
9 Months

 
N/A
N/A
 

9.50%
N/A
 

 

 

 

Share Secured Loan                                         2% above dividend rate


 


CWU Federal Credit Union loan terms:

**"Well Qualified" rate requires a credit score 720 or above, as well as meeting standard loan requirements.
Debt ratio formula = total monthly payments divided by total monthly gross income, maximum is 45% excluding PLOC
Credit report required for members applying for loan &/or refinancing a loan, current update required after 90 days.
Credit report fee $5.
Refinance fee of $20.00 on PLOC Loans and Signature Loans.
Document fee of $5 on all new loans
NSF fee of $25.00 may be charged for any returned checks.
Dormant account fee $8.00 per quarter
Certification of self employment income required. Retired members must provide proof of income.
Maximum combined loan amount $100,000.
Insurance required for all collateral loans with Maximum deductible of $500.
Membership available to CWU Permanent Employees and Benefit Eligible Adjunct Employees Classified staff employees must have passed a 6 month probation period with CWU to qualify for a loan. Members not on summer salary must make arrangements in advance to cover summer loan payments.