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Loan
Rates
Offering rates which are subject to change without notice.
For current rate update, please call or visit our credit union
office.
| Share Dividend |
Rate |
APY |
| Regular Shares |
1.00%
|
1.00% |
|
Loan
Rates and Requirements |
|
Automotive
- NEW |
12
months |
5.00%
APR |
| 24
months |
5.50%
APR |
| 36
months |
6.00%
APR |
| 48
months |
6.50%
APR |
| 60
months |
7.00%
APR |
Maximum
Loan Amount: $40,000*
Maximum Finance Amount: 95% |
|
Loan
Rates and Requirements |
|
Automotive
- USED |
12
months |
7.50%
APR |
| 24
months |
7.75%
APR |
| 36
months |
8.00%
APR |
| 48
months |
8.00%
APR |
Vehicle
CANNOT be older than seven (7) years old.
Maximum Loan Amount: $40,000*
Maximum Finance Amount: 95% |
|
Boats |
|
|
12
months |
7.50%
APR |
| 24
months |
7.75%
APR |
| 36
months |
8.00%
APR |
| 48
months |
8.25%
APR |
| 60
months |
8.50%
APR |
*Requirements:
- Purchase and
Sales Agreement required containing vehicle description
and cost. Minimum down payment of 5% required. Credit union
MUST be listed as the lien holder on the
Certificate of Title.
- Vehicle must
be covered by comprehensive, fire, theft & collision
insurance with the credit union listed as the loss payee/lien holder.
Insurance
binder must be presented at time of loan.
*Payment Example: Auto Loan @6.50% APR for 4 years would cost $5.47 per $1,000 borrowed.
**Payment Example: Auto Loan @8.00% APR for 4 years would cost $5.62 per $1,000 borrowed.
Personal
Loans
Maximum amount of $15,000. can be borrowed (including
loans as co-signers) 10.5% APR up to Four (4) years
Co-signers
required if:
- Employment of
less than five (5) years
- Debt Ratio is
36 - 40%
- Questionable
credit report
- Applicant has
filed for bankruptcy
*Payment Example: Personal Loan @10.50% APR for 4 years would cost $5.89 per $1,000 borrowed.
Home
Improvement
Maximum
of $40,000. 9% APR, 15 years. Description and cost estimate
of work, copy of real estate tax bill, mortgages statement
or deed to property required.
Secured Loans with savings hold, 8.5% APR
Requirements:
- Applicants
must meet credit criteria of the Lynn Teachers' Credit Union
- No Co-maker
required if employed by Lynn School Department as a PERMANENT
employee for 5 years
- Offer applies
to NEW LOANS ONLY
- LIMITED FUNDS
available for this type of loan
Repayment
Terms:
*Payment Example: Home Improvement Loan @9.00% APR for 1 year would cost $25.58 per $1,000 borrowed.
Vacation
and/or Holiday Loans announced each year.
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