Loan Rates

 

UNSECURED LOANS INTEREST RATE STRUCTURE FOR RISK-BASED LENDING
AS OF 10-30-2008

Range

Grade of Paper

Rates
All Unsecured Loans

730 + Platinum 8.00%
680 - 729 A 10.00%
640 - 679 B 13.25%
600 - 639 C 15.25%
550 - 599 D 16.50%
549 or less E 18.00%

 

 

HOME EQUITY PRODUCT   (Prime = 3.25%)

Score

Grade

Up To 80%

 Of Equity
730 + Platinum Prime - 1.00%     4.00% **
680 - 729 A Prime - .50%     4.00% **
640 - 679 B Prime + .00%     4.00% **
600 - 639 C Prime + 1.0% 4.25%
550 - 599 D Prime + 2.5% 5.75%
549 or less E Prime + 3.5% 6.75%
** Effective May 6, 2010, a floor rate or 4.00% was established.

 

 

SECURED, NON-REAL ESTATE LOANS
(Auto, Boat, Motorcycle, etc.)
AS OF 09-21-2010

Range

Grade of Paper

ANNUAL PERCENTAGE RATE (APR) (4)

NEW (1) / (2)

USED (3)

730 + Platinum 3.75% / 4.00% 6.00%
680 - 729 A 4.00% / 4.25% 6.25%
640 - 679 B 4.25% / 4.50% 6.50%
600 - 639 C 4.75% / 5.00% 6.75%
550 - 599 D 7.00% / 7.50% 8.25%
549 or less E 8.00% / 8.50% 9.00%
(1) Up to 60 month term
(2) Up to 72 month term, $50,000 +
(3) Up to 48 month term, up to 5 yrs old
(4) Member 'buy down'; 0.25% w/20% down payment; 0.50% w/30% down payment.

 

 

OTHER LOANS - RATES

Loan Type

Amount

Term

Annual Percentage Rate (APR)

Share Secured $150 to amount in shares Variable Div. + 3.5%
Certificate Secured $150 to amount in certificate Variable Div. + 3.0%
Premium Access Loan $500 $25 biweekly payment 13.5%

 

All applicants for new loans, loan advances or line of credit renewals are now required to have a minimum deposit of $100.00, which may be kept in any share account (except IRA's), before a loan is disbursed.  The deposit must remain in the account you choose until the loan is paid in full.

PLEASE NOTE THE FOLLOWING:

  • All Current Lending Policies Apply

  • All Rates Subject To Change

  • The NLRB Financial Consumer Union reserves the right to refuse consideration of a loan application submitted by a member who has caused the NLRB Financial Consumer Union to suffer any form of financial loss

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