RelyOn Credit Union - Loan Rates

Loan Rates & Guidelines

Effective January 1, 2019

RelyOn Credit Union would like to lighten your financial burden by offering you the ability to “skip-a-payment”. By contacting our Loan Department, we can arrange a 30 day extension on your scheduled loan payment for a small processing fee of $50.00, for qualified borrowers. Call our Loan Department today!

Unsecured Loans
Terms	Rate*
Up to 12 months	11.90%
13 – 24 months	12.90%
25 – 54 months	13.90%

Line of Credit
Terms	Rate*
Up to 48 months; $10.00 minimum payment	14.60%

Mastercard
Type	Rate*
Gold	9.90%-12.90%
Classic	12.90%-18.00%
Secured	15.90%-18.00%

No annual fee. Required minimum balance of $18.00/month or 3% of outstanding balance.

New Auto¹
Terms	Rate*
Up to 75 months	3.79%
76 – 84 months	3.99%²

¹ (CURRENT YEAR – 1) 100% + Tax, Title, License, GAP coverage and Warranty
² Terms 76-84 months apply to loan amounts > $50,000.

Used Auto NADA Retail Value
Model Year	Terms	Rate*
2016-2017	Up to 75 months	4.99%
2015 & older	Up to 66 months	5.49%

Real Estate

All real estate, mortgage, home equity/cash out loan requests

Call a Loan Officer for information. Real estate loans comply with the Fair Housing Act.

Share (Deposit) Secured Loan
Terms	Rate*
Up to 60 months	6.10%

RelyOn Certificate of Deposit Secure Loan

3.00% over the certificate rate or an average rate where multiple certificates are being used to secure a loan, not to exceed the term of the certificate.

Other Secured Loans

The limit is set by law and Credit Union policy, repayment depends on security. Call for rate information.

Motorcycle and Motor Home Loans³
Type	Terms	Rate*
New Motorcycle	Up to 72 months	6.90%
Used Motorcycle	Up to 72 months	7.55%
New Motor Home	Up to 122 months	6.90%
Used Motor Home	Up to 122 months	7.55%

³ New – 100% MSRP selling price; Used – NADA Retail Value

Boat, RV, Tractor, Trailer, Equipment & ATV³
Type	Terms	Rate*
New	Up to 72 months	6.90%
Used	Up to 72 months	7.55%

Add .25% on terms 73 – 122 months
³ New – 100% MSRP selling price; Used – NADA Retail Value

*Annual percentage rate, as low as – all rates subject to change and can vary based on credit-worthiness and terms of the loan. A .20% discount is available on unsecured and title secured loans with auto-pay from a RelyOn checking account.

Rate Disclosures

Unsecured, Line of Credit, and Mastercard loans may be granted at the discretion of the loan officer. Consideration for a loan is that a member have an excellent credit rating; financially able to repay; is of good character; and purpose is for good reason. Line of Credit, Unsecured, Share (deposit) Mastercard and Mastercard loans may not exceed a combined total of $10,000.00 per member.

If loans for PURCHASE exceed the collateralized loan limit, as stated, the published APR may be increased by 1%. when an unsecured loan is combined with a collateralized loan, and the total loan exceeds stated limits, the APR applicable to the unsecured loan will apply.

Consistent with the needs of the member/borrower and the best interest of the Credit Union, a loan (open-end or closed-end) with a maturity of less than 30 months may be repaid by a single payment of principal if the Loan Officer finds loan shall provide for: payment of interest with each payment of principal, payment of interest not less frequently than annually and sufficient payments to pay the loan in full at maturity.

Maximum secured loans may not exceed 10% unimpaired cash and surplus of the Credit Union.

All loan applications not approved by the Loan Officer will be referred to the Loan Committee for approval or disapproval. Debt ratios in excess of 55% must be ratified by the President or Loan Manager.

Shown above are the limitations and regulations as set by Credit Union Law and policies as set by our Board of Directors and are subject to change without notice.