Signature Loans

SIGNATURE LOANS

25% pledge is required on all Signature Loans

 

Amount
Annual Rate
Term
$500 - $5,000
11% - 18%
Up to 48 months

 


LINE OF CREDIT

25% pledge is required
10% pledge is required if beacon score is over 800*

 

Amount
Annual Rate
Term
$2,000 - $15,000
11% - 18%
Up to 48 months

 


SHARE SECURED LOAN

100% Share collateral is required

 

Amount
Annual Rate
Term
$500 - A/C balance
3% above collateral rate
60 months

 


AUTOMOBILE LOANS

3% pledge plus a Line on the Auto Title

New Car Amount
Amount Financed
Terms
Up to $25,000
100% of purchase price
60 months
Up to $25,000
90% of purchase price
Up to 72 months

NEW VEHICLE LOANS

Loan Terms
6.25% - 15%

 

Used Vehicles

Amount Financed
Rate
Term
100% of NADA Average Retail Value
6.75% to 15.25%
24 to 60 Months
(Depending on age of vehicle)

 

 


TOTAL LOANS TO ANY ONE MEMBER SHALL NOT EXCEED $10,000.

To apply for Signature Loans, Line of Credit, Share Secured Loans and Automobile Loans:

  1. You must be a member of the NAPFE Union and NAPFE Federal Credit Union for a period of not less than ninety (90) days to be eligible to apply for a loan.
  2. You must complete a loan application, answer all questions; list all your creditors. Submit current proof of income. Loan applications will be returned to applicant if all information is not listed.
  3. You are required to pledge 25 % of the Signature Loan amount requested; 25 % of Line of Credit amount requested; and 100 % of the Share Secured amount requested; 3 % of Auto Loan requested, in addition to your $30.00 Membership Share.
  4. Pledge of 10% (Beacon score over 700*) of signature 11 - Line of credit and special loans may not be taken from loan proceeds upon approval.
  5. Credit check fee is applied to all loan applicants.
  6. Failure to meet any of the above requirements will result in delay or disapproval of loan request.