 |
Interest Rates & Loan Interest Rates
Vehicle & RV Loans
Line of Credit/Signature Loan
Other Loans
Fair Lending Program
Share & IRA Certificate Rates
Share Dividend Rates/Money Market
Fees
Effective April 1, 2008
La Loma offers loans for most members needs. La Loma's interest rates are based on each individual member's credit history with Experian's Fair Isaac Score. La Loma's loan decisions are based on judgment; the scoring model is used to determine the interest rate once loan is approved. This does not include Real Estate loans, Visa, Line of Credit Overdraft, Holiday,Tax, or Vacation loans, Computer, Apple Computer, or Share/Certificate loans.
Vehicle Secured (New & Used Autos, Trucks, Motorhomes, RV's, Motrocycles, Boats & Personal Watercrafts)
| Score |
24 Months |
36 Months |
48 Months |
60 Months* |
72 Months* |
84-144 Months** |
| A |
5.15 APR |
5.40 APR |
5. 65 APR |
5.90APR |
6.15 APR |
6.65 APR |
| B |
6.15 APR |
6.40 APR |
6.65 APR |
6.90 APR |
7.15 APR |
7.65 APR |
| C |
8.65 APR |
8.90 APR |
9.15 APR |
9.40 APR |
9.65 APR |
10.15 APR |
| D |
11.15 APR |
11.40 APR |
11.65 APR |
11.90 APR |
12.15 APR |
12.65 APR |
| E |
15.15 APR |
15.40 APR |
15.65 APR |
15.90 APR |
16.15 APR |
16.65 APR |
*Minimum Loan $10,000 **Minimum Loan $25,000
Terms, rates and amounts financed vary according to credit worthiness.
Vehicle loans with a down payment of 20% or more will receive a discount of 0.25% from the base rate. Loan rates, terms, and conditions are subject to change.
Line of Credit/Signature Loan
Score |
Rate |
| A |
10.85 APR |
| B |
12.85 APR |
| C |
14.85 APR |
| D |
16.85 APR |
| E |
17.75 APR |
Maximum $10,000 request. Terms, rates
and amounts financed vary according to
credit worthiness.
Other information: Rates listed above include a .25% discount
for electronic/automatic payments. If you do not agree to make your
payments electronically, either through ACH(Automated Clearing House)
system or payroll deduction, a premium of .25% will be added to the loan
rate. This does not include Visa, Real Estate loans, LOC Overdraft,
Holiday, Tax, Vacation, or Share/Certificate loans.
Back to top
Other Loans
Loan Type |
APR |
Maximum |
Term |
Other |
Late Charge |
| Visa Platinum |
8.90% |
$25,000 |
|
No Annual Fee |
$20, after 10 days |
| Classic/Student Visa |
12.90% |
$10,000 |
|
No Annual Fee |
$20, after 10 days |
| Secured Classic Visa |
12.90% |
$10,000 |
|
$25 Annual Fee |
$20, after 10 days |
| Overdraft Line of Credit |
14.00% |
$2,500 |
|
Ties w/La Loma checking |
$15, after 10 days |
| Computer |
11.90% |
$4,000 |
36 months |
|
same as vehicle |
Apple Computer
(LLUAHSC) |
9.00% |
$2,500 |
36 months |
|
same as vehicle |
| Tax Loan (seasonal) |
12.00% |
on approved credit |
12 months |
|
same as vehicle |
| Holiday Loan (seasonal) |
12.00% |
$1,200 |
12 months |
|
same as vehicle |
| Share Secured |
3.00% above max. dividend rate 5.00% minimum |
90% of regular shares |
60 months |
|
same as vehicle |
| Certificate Secured |
3.00% above Certificate Rate 5.00% minimum |
90% of Certificate |
Certificate maturity |
|
same as vehicle |
| Vacation Loan |
9.90%-17.90% |
$7,000 |
48 months |
|
same as vehicle |
All rates and terms are subject to change without prior notice
.
APR= Annual Percentage Rate
Mechanical Breakdown Insurance (MBI)
La Loma can now offer members an affordable solution to those often over priced dealer warranties. If you are considering a dealer service contract on the car you are purchasing, be sure to contact the credit union to compare costs. YOU will be pleasantly surprised!!! The cost of the insurance can be financed along with your loan. If you paid cash for your vehicle, La Loma can issue a MBI policy to you (some restrictions for model years and mileage may apply).
Guaranteed Auto Protection (GAP)
Gap offers protection against financial liability for members who finance a new or used auto or truck. GAP protects against financial loss in the event that your vehicle is damaged beyond repair (totaled) or stolen and never recovered. GAP provides protection from possible loss due to a deficiency balance not covered under your car insurance policy. Available at a reasonable cost of $150; premium can be financed into loan balance.
Credit Disability & Life Insurance
Credit Disability and Credit Life insurance can help protect your family from the unexpected. Should you become totally and continuously disabled by a covered sickness or accident which persists beyond the policy waiting period (only 14 days), your loan payments are protected with the Credit Disability. In the event of your death, Credit Life insurance pays the insured balance of your loan, up to the policy maximum. Coverage just costs pennies a day; premiums can be added to your monthly payments for your convenience.
Back to top
FAIR Lending Program
We are pleased to announce that La Loma Federal Credit Union has started the "FAIR Lending Program" to help as many members as possible obtain credit.
We realize that some members may have experienced some difficulty with their credit in the past and as a result, we were unable to grant their loan request forcing these members to pay extraordinarily high rates elsewhere.
Now the loan rate that the member pays will be determined by their credit history. Members with good credit histories will receive our very best rates, some of the best rates offered by any financial institution.
Other members, who may have had credit problems, will be assigned rates consistent with their credit history. These rates will almost always be lower than what they may be offered by other lenders.
These new rates will be offered on all vehicle loans and our signature loans. The rate you pay will be based on the number of years your loan is financed plus your credit history. Rates are set by the Board of Directors and are subject to change. Our Premium Rates will be used in quoting our rates or sample payments. We encourage all members to try the "FAIR Lending Program." Our goal is to assist you in achieving your personal financial goals. If you are not sure what rate you are paying on a current loan, ask them first, then call us. Let us help you obtain credit and save money.
Back to top
Certificates(Reg. Share)
Effective as of February 16, 2008
Rates are subject to change.
| Term |
Rate
Type |
Minimum Balance |
Dividend Rate |
APY* |
| 3-11 Months |
Fixed |
$1,000.00 |
1.80% |
1.80% |
| 12-23 Months |
Fixed |
$1,000.00 |
1.98% |
2.00% |
| 24-35 Months |
Fixed |
$1,000.00 |
1.87% |
1.90% |
| 3-11 Months |
Fixed |
$5,000.00 |
2.00% |
2.00% |
| 12-23 Months |
Fixed |
$5,000.00 |
2.18% |
2.20% |
| 24-35 Months |
Fixed |
$5,000.00 |
2.06% |
2.10% |
| 36-47 Months |
Fixed |
$5,000.00 |
1.96% |
2.00% |
| 48-59 Months |
Fixed |
$5,000.00 |
1.93% |
2.00% |
| 60 Months |
Fixed |
$5,000.00 |
1.91% |
2.00% |
| 3-11 Months |
Fixed |
$10,000.00 |
2.40% |
2.40% |
| 12-23 Months |
Fixed |
$10,000.00 |
2.77% |
2.80% |
| 24-35 Months |
Fixed |
$10,000.00 |
2.54% |
2.60% |
| 36-47 Months |
Fixed |
$10,000.00 |
2.42% |
2.50% |
| 48-59 Months |
Fixed |
$10,000.00 |
2.39% |
2.50% |
| 60 Months |
Fixed |
$10,000.00 |
2.36% |
2.50% |
| 3-11 Months |
Fixed |
$50,000.00 |
2.40% |
2.40% |
| 12-23 Months |
Fixed |
$50,000.00 |
2.77% |
2.80% |
| 24-35 Months |
Fixed |
$50,000.00 |
2.54% |
2.60% |
| 36-47 Months |
Fixed |
$50,000.00 |
2.42% |
2.50% |
| 48-59 Months |
Fixed |
$50,000.00 |
2.39% |
2.50% |
| 60 Months |
Fixed |
$50,000.00 |
2.36% |
2.50% |
*APY is Annual Percentage Yield. The
rates quoted above are accurate and
effective for the above accounts as of
the effective date indicated.
Dividends are computed on the daily balance of the account and are payable the last day of each month and/or maturity. Fees or other
conditions could reduce the earnings
on the account. A penalty may be
imposed for withdrawals before
maturity. If you have any questions or need
current rate information on your
accounts,please call (909)
796-0206.
Certificates(Traditional IRA or Roth IRA)
Effective as of February 16, 2008
Rates are subject to change.
| Term |
Rate
Type |
Minimum Balance |
Dividend Rate |
APY* |
| 12-23 Months(Add-on) |
Fixed |
$500.00 |
1.98% |
2.00% |
| 12-23 Months |
Fixed |
$1,000.00 |
2.86% |
2.90% |
| 24-35 Months |
Fixed |
$1,000.00 |
2.63% |
2.70% |
| 36-47 Months |
Fixed |
$1,000.00 |
2.51% |
2.60% |
| 48-59 Months |
Fixed |
$1,000.00 |
2.48% |
2.60% |
| 60+ Months |
Fixed |
$1,000.00 |
2.45% |
2.60% |
*APY is Annual Percentage Yield. The
rates quoted above are accurate and
effective for the above accounts as of
the effective date indicated.
Dividends are computed on the daily balance of the account and are payable the last day of each month and/or maturity. Fees or other
conditions could reduce the earnings
on the account. A penalty may be
imposed for withdrawals before
maturity. If you have any questions or need
current rate information on your
accounts,please call (909)
796-0206.
Back to top
Share Dividend Rates
Effective as of November1, 2008
Rates are subject to change.
| Account Name |
Rate Type |
Min. Balance to Earn Dividends |
Dividend Rate |
APY* |
| Regular Savings
|
|
| $5 to $2,500 balance ** |
Variable |
$5.00 |
.10% |
.10% |
| $2,500 to $50,000 balance** |
Variable |
$2,500.00 |
.40% |
.40% |
| $50,000+ balance ** |
Variable |
$50,000.00 |
.55% |
.55% |
| Tax Club *** |
Fixed |
$10.00 |
1.25% |
1.26% |
| Vacation Club *** |
Fixed |
$10.00 |
1.25% |
1.26% |
| School Club *** |
Fixed |
$10.00 |
2.50% |
2.53% |
| Christmas Club *** |
Fixed |
$10.00 |
1.25% |
1.26% |
| IRA Savings |
Variable |
$200.00 |
1.20% |
1.21% |
| Premier Checking |
Variable |
$1500.00 |
.30% |
.30% |
| Boom Checking |
Variable |
$300.00 |
.30% |
.30% |
| Money Market
|
|
| $5 to $2,500 balance ** |
|
|
N/A |
N/A |
| $2,500 to $10,000 balance** |
Variable |
$2,500.00 |
1.05% |
1.06% |
| $10,000 to $25,000 balance** |
Variable |
$10,000.00 |
1.25% |
1.26% |
| $25,000 to $50,000 balance ** |
Variable |
$25,000.00 |
1.25% |
1.26% |
| $50,000 to $100,000 balance** |
Variable |
$50,000.00 |
2.00% |
2.02% |
| $100,000+ balance** |
Variable |
$100,000.00 |
2.00% |
2.02% |
*APY is Annual Percentage Yield.
**Minimum balance
requirements apply to average daily
balance.
***Club Accounts are a Fixed rate for the term stated.
This
rate schedule states rates applicable
to specified accounts. Dividends are
credited to your account and
compounded every month.
This schedule is incorporated as a part of your account agreement with La Loma Federal Credit Union.
Back to top |
|
|
