|
ANNUAL PERCENTAGE RATE
AS OF
6/28/10 |
|
CREDIT TIER |
PERSONAL
LOANS
|
PERSONAL COMPANION |
VEHICLE SECURED LOANS
36 MO 37-48 MO
49-60 MO 61-72 MO
73-84 MO
|
|
|
|
|
|
|
|
|
|
|
A |
8.95% |
8.00% |
4.50% |
4.50% |
4.50% |
5.50% |
5.50% |
|
B |
9.95% |
8.95% |
4.50% |
4.50% |
4.50% |
5.50% |
5.50% |
|
C |
11.95% |
10.95% |
8.00% |
8.50% |
9.50% |
10.00% |
10.50% |
|
D |
14.95% |
13.95% |
12.50% |
12.75% |
13.00% |
13.25% |
N/A |
|
E |
17.95% |
16.95% |
15.00% |
15.25% |
15.50% |
15.75% |
N/A |
|
|
|
|
|
|
|
|
|
|
LOAN TO VALUE (LTV)
ADJUSTMENTS |
|
|
CREDIT TIER |
A |
B |
C |
D |
E |
|
|
|
LTV less than 75% |
-0.15% |
-0.15% |
-0.30% |
-0.30% |
-0.750% |
|
|
|
LTV 76 - 90% |
-0.15% |
-0.15% |
-0.30% |
-0.30% |
-0.50% |
|
|
|
LTV 91 - 110% |
NO ADJUSTMENT |
|
|
|
LTV 111 - 120% |
0.00% |
0.00% |
1.00% |
2.00% |
N/A |
|
|
|
LTV 121 - 130% |
1.50% |
1.50% |
2.00% |
3.00% |
N/A |
|
|
|
|
|
|
|
|
|
|
|
DISCOUNTS* |
|
|
Direct Deposit of Net
Pay |
.0.25% |
|
|
|
Automatic Loan Payments |
.0.25% |
|
|
|
$5,000 in Savings, Money
Markets and/or Term Shares Accounts |
.0.25% |
|
|
|
Credit Life & Disability
Insurance |
.0.25% |
|
|
Credit Union checking
accounts w/average of 10 withdrawals per month |
0.25% |
|
|
|
Home Banking with
Electronic Statements |
0.25% |
|
|
|
*There
is a maximum discount of 0.75% for any loan. |
|
|
|
|
|
|
|
~The rate for any secured loan prior to
LTV deduction will not
be below 4.00%.
~The rate for any Personal loan will
not be below 8.20%.
The rate for any Personal Companion loan
will not be below 7.50%.
~Loans eligible for a 72 month term
must have an initial balance of at least $15,000.
~Loans eligible for an 84 month term
must have an initial balance of at least $25,000.
~For secured loans, the borrower must
provide comprehensive and collision insurance coverage with a
maximum deductible of
$500.
~A lien will be filed on all secured
loans.
~After one year, the member may apply
to have their loan rate changed. Contact credit union for further
details.
~Member paid credit disability ($.149
per $100 of the loan balance) and credit life (Single - $.066 per
$100 or Joint - $.105 per
$100 of the loan balance) insurance is optional. Contact credit
union for further details.
~The minimum payment will not be less
than $35.
~The Board of Director of the
Cheektowaga Community Federal Credit Union reserves the right to alter
any of the above items
or
add items to this statement at any time.
~For
all non- mortgage or mobile home loans, there is a $15 late fee
assessed after a grace period of 20 days.
----------------------------------------------------------------------------------------------------------------------
|
LOANLINER ADDENDUM |
|
INSTRUCTIONS
This
addendum is incorporated into and becomes a part of your
LOANLINER Credit Agreement. Please keep this attached to
your LOANLINER Credit Agreement. The ANNUAL PERCENTAGE
RATES, corresponding daily periodic rates and amount and due
date of payments for each subaccount are shown below. If
there is no payment schedule, the amount and due date of
payments will be determined at the time of each advance and
disclosed on the Advance Request Voucher. Other charges that
may be imposed are also shown below (i.e., late charges,
filing fees, collection costs). Payments will be increased
to the next even dollar amount.
|
|
EFFECTIVE DATE
January 11, 2010
|
REPLACES ADDENDUM DATED
September 23, 2009
|
Your minimum payment is calculated after each advance as
described below.
|
|
Sub-Account
|
Approximate
Maturity In Months
|
Daily Periodic Rate |
ANNUAL PERCENTAGE RATE |
For
each $1000 or fraction of $1000 of your unpaid balance by
sub-account |
Credit disability
insurance cost per $100 of your balance
|
|
Pledged
Shares |
36 |
0.010959% |
4.00% |
$29.54 |
$0.149 |
|
Pledged Shares |
48 |
0.012329% |
4.50% |
$22.81 |
$0.149 |
|
Pledged Shares |
60 |
0.013699% |
5.00% |
$18.88 |
$0.149 |
|
Mobile Homes |
120 |
0.021233% |
7.75% |
$12.01 |
$0.149 |
|
Mobile Homes |
240 |
0.025342% |
9.25% |
$9.17 |
$0.149 |
|
Education |
60 |
0.021918% |
8.00% |
$20.29 |
$0.149 |
|
Vehicle Secured |
36 |
0.012329% |
4.50% |
$29.75 |
$0.149 |
|
Vehicle Secured |
48 |
0.012329% |
4.50% |
$22.81 |
$0.149 |
|
Vehicle Secured |
60 |
0.012329% |
4.50% |
$18.65 |
$0.149 |
|
Vehicle Secured |
72 |
0.017123% |
6.25% |
$16.70 |
$0.149 |
|
Vehicle Secured |
84 |
0.018493% |
6.75% |
$14.98 |
$0.149 |
|
Personal |
36 |
0.024521% |
8.95% |
$31.78 |
$0.149 |
|
Personal |
48 |
0.024521% |
8.95% |
$24.86 |
$0.149 |
|
Personal |
60 |
0.024521% |
8.95% |
$20.74 |
$0.149 |
|
Personal Comp |
36 |
0.021918% |
8.00% |
$31.34 |
$0.149 |
|
Personal Comp |
48 |
0.021918% |
8.00% |
$24.42 |
$0.149 |
|
Personal Comp |
60 |
0.021918% |
8.00% |
$20.28 |
$0.149 |
Collection
Costs:
You promise to pay
all costs of collection of the amount you owe, including court costs
and reasonable attorney fees.
Payments:
The minimum payment will never be less than
$35.00.
▪
COST OF RENEWABLE CREDIT DISABILITY
INSURANCE PER $1000 BORROWED - OPTIONAL
▪
Credit Life Insurance - Single Coverage - $.066
per $100; Joint Coverage - $.105 per $100 - Either coverage
is optional
The Board of Directors of the Cheektowaga Community Federal Credit
Union reserves the right to alter any of the above items on this
statement at any time.
|