|Vehicle & Boat Loans (New & Used)||Lowest Fixed Annual Percentage Rate (APR)1||Maximum Term4||Maximum Loan5|
|Automobiles & Trucks||1.75% to 15.25%||1 to 48 Months||125% financing|
|2.00% to 15.50%||49 to 72 Months||125% financing|
|3.00% to 16.00%||73 to 84 Months||125% financing|
|Classic, Collectible, Exotic, & Special-Interest Vehicles||2.75%||84 months
|70% financing of low valuation guide, or the vehicle's appraised value.|
|Personal Watercraft||4.25%||84 months
|Recreational Vehicles||3.25%||180 months
|Personal Computer Loans||Lowest Fixed APR1||Maximum Term4||Maximum Loan6|
|Line of Credit||Lowest Variable APR1,2||Maximum Credit6||Term3,8|
|Personal Line of Credit/ Overdraft Protection8||12.00%||$50,000||Revolving|
|Personal Loans||Lowest Fixed APR1||Maximum Loan6||Maximum Term|
|Personal Unsecured ("Signature")||12.00%||$50,000||60 Months|
|Personal Unsecured Emergency||12.00%||$5,000||48 Months|
|Debt Consolidation||12.00%||$50,000||60 Months|
|Share-Secured Loans||Lowest Fixed APR1||Maximum Loan6||Maximum Term|
|Share-Savings Secured||Share-Savings Rate + 2.50%||100% of the available share balance||36 Months|
|Share-Savings Rate + 3.50%||100% of the available share balance||72 Months|
|Share-Certificate Secured||Varies9||80% of the available share balance||Up to 60 months, not to exceed Certificate maturity.|
|Visa® Credit Cards12 (revolving term7 & no annual fee)||Lowest APR10||Maximum Credit6|
|Student Platinum||12.65% non-variable||$1,000|
|Share-Secured Platinum||10.00% non-variable||$5,000|
|Business-Rewards Platinum||12.25% variable||$50,000|
|Platinum with Low Rate||6.99% variable||$50,000|
|Signature Rewards Platinum||8.99% variable||$50,000|
|New Card Intro Rate||0% (1st 6 months)||Based on Card|
|Account Type||Balance to Earn Dividends||APY13||Dividend Rate|
|Regular Savings (Share)||Under $10,000||0.05%||0.05%|
|$10,000 or more||0.10%||0.10%|
|Free Checking (Share Draft)11||Under $10,000||0.00%||0.00%|
|$10,000 or more||0.03%||0.03%|
|Money Market (Share Draft)11||Under $2,500||0.00%||0.00%|
|$2,500 to $9,999||0.05%||0.05%|
|$10,000 to $24,599||0.10%||0.10%|
|$25,000 to $49,999||0.15%||0.15%|
|$50,000 or more||0.20%||0.20%|
|Online Money Market11 & Health Savings Account *14 (Share Draft)||Under $2,500 *||0.00%||0.00%|
|$2,500 to $9,999||0.10%||0.10%|
|$10,000 to $24,599||0.15%||0.15%|
|$25,000 to $49,999||0.20%||0.20%|
|$50,000 or more||0.25%||0.25%|
|Holiday (Share)||$10 or more||0.15%||0.15%|
|Share Certificates||Flexible Term||APY13||Dividend Rate|
|Senior Jumbo ($100,000 minimum)||3-5 months||0.25%||0.25%|
Savings and loan rates, terms, and conditions are subject to change without notice. Rates do not apply to refinances of existing LAFCU loans. Normal credit-rating criteria applies. This “Loans & Savings Rates” information is meant for information purposes only and is not an advertisement. This information sets forth certain conditions & rates applicable to your Savings (Shares), Checking (Share Draft), Holiday, Money Market and Share Certificate Accounts at Los Angeles Federal Credit Union (LAFCU). This schedule is incorporated as part of your Account Agreement with LAFCU.
Except as specifically described, the following disclosures apply to all of the Accounts:
1Rate Information - The dividend rate and annual percentage yield on your Accounts are set forth in the attached rate schedule. The dividend and annual percentage yield are current as of the last dividend declaration date for the Account. The annual percentage yield is a percentage rate that reflects the total amount of dividends to be paid on an Account based on the dividend rate and frequency of compounding for an annual period. For the most current rate information, please call us or visit www.LAFCU.org.
2Nature of Dividends - Dividends are paid from current income and available earnings after the required transfer of reserves at the end of a dividend period.
3Accrual of Dividends - Dividends will begin to accrue on the business day you or the credit union deposits cash or non-cash items (such as checks) to your Account.
FOOTNOTES TO SAVINGS & CONSUMER LOANS
1 The APR (Annual Percentage Rate) is based on the term, collateral, down payment, Account relationships, and credit. Loan payments can be made by Payroll Deduction, by Automatic Transfers, by telephone with TouchTel-24, by transferring funds online in online banking, online with Bill Pay, in person at a LAFCU branch or CU Service Center (Shared Branch), by mailing a payment to LAFCU, or by ACH transfer from another financial institution.
2 For variable-rate loans, the annual percentage rate quoted is the initial rate before quarterly adjustments. Index: 4-week average of 26-week U.S. T-Bill. Maximum rate increase/decrease is two percentage points per year; five percentage points over the lifetime of the loan; not to increase above 18% or decrease below the base rate, (the lesser of 12% or the initial rate on signature loans). The rate may increase or decrease after consummation. The interest rate may be decreased by up to 1% below the standard fixed rate for that loan program, but not below the certificate rate plus 1% for the loan and certificate term.
3 Maximum number of monthly payments assumes a single advance and is estimated for variable-rate loans.
4 Loan term for vehicle loans depends on the amount financed and the year of the vehicle. Vehicle loan amount must be $20,000 or more to qualify for an 84-month term.
5 Financing is up to 125% of the purchase price, including tax, license, GAP and MBI. RVs eligible for financing include motor homes, camping trailers, 5th wheel trailers, custom vans, surfer vans, and van conversions. Financing includes tax & license (and optional MBI & GAP from LAFCU for automobiles, trucks and RVs).
6 Total Unsecured Loans (Visa card credit lines, computer loans, and “Signature” Personal Unsecured loans) cannot exceed $50,000 per member. Maximum computer loan amount includes 100% of the purchase price, including hardware and software.
7 There is a 25-calendar day grace period for new purchases, if the previous statement’s balance was paid in full. To avoid periodic finance charges for new purchases, pay the total new balance by the payment due date (approximately 25 calendar days from the billing date). There is no grace period for cash advances. Interest is charged from the date of the advance. Minimum monthly Visa payment is $20 or 3% of the outstanding balance (excluding over limit or delinquent amounts), whichever is greater.
8 Minimum monthly payment on Personaline/Overdraft Protection is $33 per $1,000 borrowed, or portion thereof.
9 Loan rate equals Share Certificate rate plus 3%. Checking (Share Draft), Holiday, IRA Share Certificates and Money Market accounts cannot be used as collateral for a loan. Loan term cannot exceed Certificate maturity date. “Debt Protection” plans are not available for loans with a one-year term and single payment.
10 APR will increase to 17.90% on your entire Account balance and continue for 6 consecutive months if payment is delinquent for 2 or more consecutive cycles. Initial APR is based on credit/underwriting criteria.
11 Paper checks available to access funds from this account. The same parameters (balance to earn dividends, annual percentage rate, and dividend rate) apply to our Regular, Free, Second Chance, and Business Checking Accounts.
12 Paper “Convenience Checks,” when available, can be written for amounts of $100 up to $15,000
13 APY=Annual Percentage Yield. The APY is a prediction based on the assumption that all dividends remain for a year and are not withdrawn. Your actual APY will be calculated to three decimal points.
14 HSA = Health Savings Account. Available only for withdrawals with a debit card & online banking inquiries. Not available for check writing, Shared Branch access, or Courtesy Pay.