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Loans | Shares | Applications | Calculators
LOANS
Rates effective as of: 05/30/2008
Subject to change without notice
Risk Based Pricing:
Scott Associates Credit Union uses a risk based pricing policy to determine a members interest rate on many of our loan products. In grading a loan application, the credit bureau provides Scott Associates Credit Union with a calculated national risk score, which is then matched to a letter score of A+, A, B, C, D or E. Rates have been set according to a corresponding letter grade. A letter grade of an A+ would receive our best rate, while tiers A - E grades would each receive a slightly higher interest rate.
The purpose of offering Risk Based loans is to help as many members as possible. We recognize that certain members represent more risk than others. We will not grant loans where the probability of repayment is very doubtful. We recognize the importance of managed risk. We also recognize we have members who are being charged extremely high rates with other lenders that we could help with a managed risk program, plus save these members substantial money while helping them rebuild their credit.
All loans are subject to qualification.
LOANS SECURED BY SHARES OR CERTIFICATES
**Share/CD must remain at 2% less than loan rate for life of loan
**Risk Based ing not used for this product
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Annual Percentage Rate(APR)
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Period Financed
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Share Secured -5.40%
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0 – 72 months
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CD Secured - 5.40%
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0 – 72 months
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NEW AUTOS (Includes: Cars & Trucks not previously titled)
**Model year changes Oct 1st
**New Auto values based on Kelley Blue Book or MSRP
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Annual Percentage Rate(APR)
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Period Financed
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5.50
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0-60 Months
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5.75
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61-72 Months (Min 20K)
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USED AUTOS (Any previously titled auto)
**Model year changes Oct 1st
**Used Auto values based on Kelley Blue Book
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Year of Auto
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Annual Percentage Rate(APR)
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Period Financed
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2006-2008
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5.75
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0-48 Months
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2006-2008
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6.00
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49-60 Months
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2006-2008
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6.25
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61-72 Months (min 20K)
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2003-2005
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6.25
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0-48 Months
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2003-2005
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6.50
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49-60 months
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2002 and older
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6.75
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0-48 Months
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BOATS/RV (mobile/motor homes)
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Annual Percentage Rate(APR)
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Period Financed
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7.00 (New)
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0-120 Months
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7.00 (Used)
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0-72 Months
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7.75 (Used)
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73-120 Months (Min $30K)
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MOTORCYCLES, FARM EQUIPMENT, ATV’S, SNOWMOBILES, LAWN & GARDEN EQUIPMENT & RELATED VEHICLES OR CONSUMER GOODS
**Qualified Appraisals Required On Used Security
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Annual Percentage Rate(APR)
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Period Financed
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7.00 (New)
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0-60 Months
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7.00 (New)
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61-72 Months(min $20K)
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7.75 (Used)
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0-60 Months
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HOME EQUITY
Property must be located within the State of Ohio
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Annual Percentage Rate(APR)
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Period Financed
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LOC/Closed End Variable
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0-180 months
as low as Prime +1% (adj qrtly)
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Closed End Fixed
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0-180 months
as low as Prime +2%
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** Call our office for current rates **
PERSONAL LOANS
**Maximum $5000 (Call our office for Loan Specials)
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Annual Percentage Rate(APR)
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Period Financed
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10.99
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0-24 Months
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11.99
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25-36 Months
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12.99
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37-48 Months
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SHARES
Rates effective as of: July 10, 2008
Rate subject to change without notice
REGULAR SHARE SAVINGS:
Minimum to earn stated apy is $100
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Annual Percentage Rate (APR)
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Annual Percentage Yield (APY)
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Amount
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1.00
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1.00
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$100 - $2,499.99
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1.25
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1.26
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$2,500 - $9,999.99
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1.50
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1.51
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$10,000 and above
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SHARE CERTIFICATES:
Minimum deposit of $500 required
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Term
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Annual Percentage Rate(APR)
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Annual Percentage Yield (APY)
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3 Month
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3.10
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3.144
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6 Month
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3.20
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3.247
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9 Month
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3.30
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3.305
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12 Month
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3.90
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3.970
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18 Month
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2.90
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2.939
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24 Month
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2.75 |
2.785
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36 Month
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2.75 |
2.785
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48 Month
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2.75
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2.785
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| 60 Month |
2.75 |
2.785 |
IRA SHARE SAVINGS:
Minimum to earn stated apy is $100
Minimum opening deposit $50.00
IRA CERTIFICATES:
Minimum deposit of $500 required
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Term
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Annual Percentage Rate(APR)
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Annual Percentage Rate(APR)
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| 9 month |
3.30 |
3.350 |
| 12 month |
3.90 |
3.970 |
| 24 month |
2.75 |
2.785 |
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36 month
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2.75
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2.785
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CHRISTMAS AND VACATION SHARES
Minimum to earn the stated apy is $100
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Annual Percentage Rate(APR)
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Annual Percentage Yield (APY)
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1.00
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1.00
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IRA DIVIDEND RATE
Required minimum deposit - $100.00
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Annual Percentage Rate(APR)
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Annual Percentage Yield (APY)
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1.50
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1.51
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**Qualified Appraisals Required On Used Security |
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