Share
Secured Loan
Partially Secured Loan
Unsecured Loans
Lines of Credit
Overdraft Protection
Home Equity Loans
Mortgages
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All-In-One
Application (requires
Adobe
Acrobat Reader. Get it here)
Checking Reserve Agreement and
Truth-in-Lending Disclosure |
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Share
Secured Loan
These loans are secured dollar for dollar from your share
or money market account. They are a good way to establish credit
and pay a very reasonable rate. The maximum term for this loan
type is 5 years. |
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Partially
Secured Loan
These loans are 50% (or more) secured by your share or
money market account. The maximum term for this loan type is
5 years. |
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Unsecured
Loans
These loans are available for any purpose. Members are eligible
to receive up to $7500.00 on their signature, for a maximum
term of 5 years. Loans in excess of $7500 will require cosigners.
These loans require a 10% of loan balance minimum deposit in
share or money market account. |
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Lines
of Credit
Academic Federal Credit Union offers a line of credit up
to a maximum of $10,000.00. The line of credit gives you the
freedom to access your credit limit when you need it, with the
minimum payment based on amount borrowed. No minimum deposit
is required for this type of loan. |
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Overdraft
Protection
This unique loan product will automatically transfer funds
into your checking account to cover checks you have written.
The maximum credit limit on this revolving line of credit is
$1000. There is a $1 fee everytime the line is accessed. The
minimum payment on these loans is $20.00 |
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Home
Equity Loans
AFCU is now offering Home Equity Lines of Credit (HELOCs). It
gives you the opportunity to consolidate your debt, do much needed
(or wanted) home improvements, or perhaps pay for education or
taxes. Home Equity loans mean that you have a tax advantaged way
of managing your personal finances. Our HELOCs are at Prime +/-%, with a 5 year 'draw' period, and the option of interest only payments during the
'draw' period, up to 20 years to repay.
Call the credit union for details.
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Mortgages
Although AFCU does not do mortgages in house, we can help
you get a mortgage through CUC Mortgage Corporation. They have
many different lending packages depending on your qualification.
Call credit union for details or
click here to visit the CUC Mortgage Web site.
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Please call the Credit Union
for forms. |
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