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| New
Vehicle Loan |
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Eligibility Requirements:
- Must be a member in good standing and meet lending
guidelines.
Features:
- Account may be single or joint.
- Loan maximum: 100% of vehicle purchase price plus
sales tax and/or extended warranty.
- Repayment terms up to six years.
- Fixed interest rate.
Benefits:
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| Used
Vehicle Loan |
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Eligibility Requirements:
- Must be a member in good standing and meet lending
guidelines.
Features:
- Account may be single or joint.
- Loan maximum: 100% of vehicle purchase price plus
sales tax and/or extended warranty.
- Fixed repayment terms and rates
Benefits:
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| Recreational
Vehicle Loan |
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Eligibility Requirements:
- Must be a member in good standing and meet lending
guidelines.
- Eligible vehicles: boats, campers, motorcycles,
ATVs, etc.
Features:
- Account may be single or joint.
- Loan maximum: 100% of the purchase price plus sales
tax and/or extended warranty.
- Fixed interest rates.
Benefits:
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| Home
Improvement Loan |
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Eligibility Requirements:
- Must be a member in good standing and meet lending
guidelines.
- Residence must be owner-occupied, primary residence.
- Residence cannot be rental/vacation property, or
a mobil home.
- The Credit Union will not be responsible for the
payment of the discharge fees when the loan is paid
in full on all Home Improvement Loans granted on November
1, 2002 or later.
Features:
- Account may be single or joint.
- Loan minimum: $2,500.
- Loan maximum: $10,000.
- May be a first, second or third mortgage on the
owner's primary residence.
- Disbursement fourth day after application. (Proceeds
must be for home improvements).
- Repayment terms of up to five years.
- Fixed interest rate.
Benefits:
*Consult a tax professional for deductibility.
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| Home
Equity Loan |
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Eligibility Requirements:
- Must be a member in good standing and meet lending
guidelines.
- Residence must be owner-occupied, primary residence.
- Residence cannot be rental/vacation property, or
a mobil home.
Features:
- Account may be single or joint.
- Loan minimum: $5,000.
- May be a first or second mortgage on the owner's
primary residence.
- Loan to value up to 80% on the residence.
- Repayment terms of up to fifteen years.
- Fixed interest rate.
Benefits:
*Consult a tax professional for deductibility.
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| Home
Equity Line of Credit |
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Eligibility Requirements:
- Must be a member in good standing and meet lending
guidelines.
- Residence must be owner-occupied, primary residence.
- Residence cannot be rental/vacation property, or
a mobil home.
Features:
- Account may be single or joint.
- Loan minimum: $7,500.
- Minimum loan advance: $500. Advances may be made
by phone or in person.
- May be a first or second mortgage on the owner's
primary residence.
- Loan to value up to 80% on the residence.
- Repayment term of 15 years - first five years as
a revolving line of credit.
- Annual percentage rate is fixed each year on the
loan anniversary date.
Benefits:
*Consult a tax professional for deductibility.
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| First
Mortgages |
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Eligibility Requirements:
- Must be a member in good standing and meet lending
guidelines.
Features:
- Account may be single or joint.
- Variety of mortgage programs available through Credit
Union Center Mortgage Corporation.
- New Purchase Money Mortgages AND Refinance Mortgage
programs.
- Repayment terms up to 30 years with fixed or variable
rate options.
- Payments may be made through payroll deduction,
automatically from a deposit account or by mail.
- Financing available on 1 to 4 family unit primary
residencies.
Benefits:
- Friendly, knowledgeable mortgage servicing staff.
- Interest may be tax deductible.*
- Low annual percentage rates save you money.
*Consult a tax professional for deductibility.
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| Stafford
Student Loan - Federal Subsidized |
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Eligibility Requirments:
- Must be a member in good standing and meet NYS Higher
Education student loan guidelines.
Features:
- Loan is made directly to the student.
- No payments while in school.
- Variable rate. Rate locked in and changed annually
on July 1st.
- Maximum loan annual percentage rate is 8.25%. Rate
is based on the 91 day T-Bill + 1.7% for school, grace,
or deferred loans and 91 day T-Bill + 2.3% for repayment
status.
- Maximum loan amounts:
- 1st Year: $2,625
- 2nd Year: $3,500
- 3rd - 5th Years: $5,500
- Grad & Prof: $8,500
- Loan proceeds sent directly to the school.
- Repayment begins six months after the student drops
below half-time status or graduates.
- May be prepaid with no penalty.
- Government pays the interest on the loan while the
student is in school and for six months after leaving
school.
- Repayment terms up to 10 years with a minimum monthly
payment of $50. Loans with a balance of $30,000 may
be repaid up to 25 years.
Benefits:
- Financial assistance to help attend college.
- No repayment while in school.
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| PLUS
Loan - Federal Subsidized (Parent Loan to Undergraduate
Students) |
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Eligibility Requirements:
- Must be a member in good standing and meet NYS Higher
Education parent/step-parent loan guidelines.
Features:
- Loan is made to the parent. Parent(s) must be credit
worthy.
- Not based on financial need.
- May borrow up to the cost of education less any
aid the student receives.
- No maximum loan amount.
- Variable annual percentage rate. Annual percentage
rate is locked in and changed annually on July 1st.
Annual percentage rate is based on the 91 day T-Bill
+ 3.1%.
- Maximum loan annual percentage rate is 9.00%.
- Loan proceeds sent directly to the school, co-payable
to the parent and the school.
- First payment is due within 60 days after final
loan disbursement.
- May be prepaid with no penalty.
- Repayment terms up to 10 years with a minimum monthly
payment of $50. Loans with a balance of $30,000 may
be repaid up to 25 years.
Benefits:
- Financial assistance to help students attend college.
- Low annual percentage rate saves you money.
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| Signature
Loan |
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Eligibility Requirements:
- Must be a member in good standing and meet lending
guidelines.
Features
- Account may be single or joint.
- Loan maximum:$10,000.
- No collateral required.
- Fixed interest rate.
- Repayment terms of up to 60 months.
- One time advance of loan proceed funds up front
and at closing.
Benefits
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| Signature
Line of Credit |
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Eligibility Requirements
- Must be a member in good standing and meet lending
guidelines.
Features
- Account may be single or joint.
- Loan maximum:$10,000.
- No collateral required.
- Fixed interest rate.
- Repayment terms of up to 48 months.
- Revolving line of credit, borrow funds as the need
arises.
- Renewal required each year.
Benefits
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| Overdraft
Line of Credit |
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Eligiblity Requirements
- Must be a member in good standing and meet lending
guidelines.
- Must have a share draft account in good standing.
Features
- Account may be single or joint.
- Share Secured Line amounts are available up to $1,500.
- Line maximum: $1,500.
- Variable interest rate.
- Fixed payment amounts:
- Lines up to $500 = $25.00 per month.
- Lines from $501 up to $1,000 = $33.67 per month.
- Lines from $1,001 up to $1,500 = $50.00 per
month.
- Automatic monthly payments made on the 20th of each
month from the Share Savings account.
- Advances are automatically made to cover an item
presented for payment on insufficient funds.
- The member may elect to have advances done from
a share savings account prior to borrowing from the
overdraft line of credit.
Benefits
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| Share
Secured Loan |
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Eligibility Requirements:
- Must be a member in good standing.
- Must have sufficient available shares on deposit
to cover loan amount.
Features:
- Account may be single or joint.
- Loan maximum: Available share balance.
- Applicants do not have to meet normal loan underwriting
guidelines & procedures.
Benefits:
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| Christmas
/ Tax / Vacation Loan |
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Eligibility Requirements
- Must be a member in good standing and meet lending
guidelines.
Features
- Account may be single or joint.
- Loan maximum: $2,500.
- No collateral required.
- Fixed interest rate.
- Repayment terms up to 12 months.
- One time advance of loan proceed funds up front
at loan closing.
Benefits
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| Credit
Life Insurance Protection - Home Equity Loans/Lines |
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Eligibility:
- Must be a member in good standing & under the
age of 70.
Features:
- No physical exam is required; coverage is automatically
in effect when you get your loan.
- Loan Protection Insurance covers the insurable balance
of credit union equity loans and lines up to $55,000
for death before age 70.
- Costs (per $100 of your monthly loan balance): 6.7
cents for single coverage or 10.7 cents for joint
coverage.
- Monthly premium is added to your loan balance at
the end of every month.
Benefits:
- Low premiums save you money.
- Finance charges are saved by not having to add the
cost of insurance to your loan up front.
- Relieves the burden of financial responsibility
to surviving family members.
- Provides coverage at home, at work, and at play.
- Credit Life Insurance Protection can provide you
with peace of mind.
- Insurance is provided through a reputable company
- CUNA Mutual Insurance Society.
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| Credit
Life Insurance Protection - Consumer Loans |
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Eligibility:
- Must be a member in good standing & under the
age of 70.
Features:
- No physical exam is required; coverage is automatically
in effect when you get your loan.
- Loan Protection Insurance covers the insurable balance
of credit union consumer loans up to a total of $30,000
for death before age 70.
- Paid for by Auburn Community FCU
Benefits:
- It's FREE!
- Relieves the burden of financial responsibility
to surviving family members.
- Provides coverage at home, at work and at play.
- Credit Life Insurance Protection can provide you
with peace of mind.
- Insurance is provided through a reputable company
- CUNA Mutal Insurance Soceity.
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| Credit
Disability Insurance Protection - Home Equity Loans/Lines |
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Eligibility:
- Must be a member in good standing & under the
age of 66.
- Member must be working for wages or profit 25 hours
per week or more on the date of any advance for eiligbility.
Features:
- No physical exam is required; coverage is automatically
in effect when you get your loan. (Does not cover
pre-existing conditions.)
- Credit Disability Protection Insurance covers the
insurable balance of credit union equity loans and
lines up to a total of $30,000 in benefits paid or
to the age of 66.
- Credit Disability Protection Insurance pays up to
a maximum monthly payment of $600.
- Costs (per $100 of your monthly loan balance): 22.3
cents for single coverage on the primary loan borrower.
- Monthly premium is added to your loan balance at
the end of every month.
Benefits:
- Low premiums save you money.
- Finance charges are saved by not having to add the
cost of insurance to your loan up front.
- Reduces the financial burden to you and your family.
- Provides coverage at home, at work, and at play.
- Helps protect your income, your collateral, and
your credit rating.
- Credit Disability Protection Insurance can provide
you with peace of mind.
- Insurance is provided through a reputable company
- CUNA Mutual Insurance Society.
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| Credit
Disability Insurance Protection - Consumer Loans |
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Eligibility Requirements:
- Must be a member in good standing & under the
age of 66.
- Member must be working for wages or profit 25 hours
per week or more on the date of any advance for eligibility.
Features:
- No physical exam is required; coverage is automatically
in effect when you get your loan. (Does not cover
pre-existing conditions.)
- Credit Disability Protection Insurance covers the
insurable balance of credit union consumer loans and
lines of credit up to a total of $30,000 in benefits
paid or to the age of 66.
- Credit Disability Protection Insurance pays up to
a maximum monthly payment of $600.
- Costs (per $100 of your monthly loan balance): 22.3
cents for single coverage on the primary borrower.
- Monthly premium is added to your loan balance at
the end of every month.
Benefits:
- Low premiums save you money.
- Finance charges are saved by not having to add the
cost of insurance to your loan up front.
- Reduces the financial burden to you and your family.
- Provides coverage at home, at work, and at play.
- Helps protect your income, your collateral, and
your credit rating.
- Credit Disability Insurance Protection can provide
you with peace of mind.
- Insurance is provided through a reputable company
- CUNA Mutual Insurance Society.
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| Loan
Payment Options |
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Payroll Deduction:
- Have your payments directly made to Auburn Community
FCU from your paycheck. This service varies by employer,
so ask your employer if they offer this service.
- This option allows your payments to always be made
on time - protecting your credit rating and avoiding
late charges.
Automatic Deduction:
- Members may opt to have their payments directly
made from the share savings deposit account.
- It is the member's responsibility to ensure that
funds are available in the share account on the payment
due date.
- Auburn Community FCU takes care of transferring
the loan payment.
- No hassle, no hurrying to the credit union to make
sure your loan payment is made on time.
File Transfer:
- Members may opt to have their payments made automatically
from a share account under a different member number
for a loan payment or from their checking account
to a loan payment.
- The member is responsible to ensure that the funds
are available in the share account for withdrawal.
- Auburn Community FCU will take care of transferring
the money over to make the loan payment.
- No hassle, no hurrying to the credit union to make
sure your loan payment is made on time.
Coupon Book:
- Auburn Community FCU will provide a coupon book
to members wishing to make their loan payments by
cash, in person, through the night deposit, or by
mail.
- It is the member's responsibility to ensure that
the coupons are filled out correctly and given to
the credit union with their payment.
- Make sure that you allow time for delivery if you
are mailing your payments.
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