Loan Rates & Additional Information

Loan Rates

Rates are quoted as our Preferred Rates.
**Other rates are available and may apply based on our underwriting guidelines.
Effective August 29, 2009.
Rates subject to change without prior notice.
Call Loan Dept at ext. 2 for current rates.
Loan Description
Approximate Term
Savings Secured 100%
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4 years
5.74%
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5 years
6.24%
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6 years
6.49%
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7 years
7.24%
Certificate Secured 100%
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6 years
Index + 2.74%
Home Equity Fixed Rate (0 pts.)
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5 years
5.49%*, **
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7 years
5.99%*, **
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10 years
6.24%*, **
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15 years
6.49%*, **
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20 years
6.99%*, **
Car 2003 - 2010
3 years
5.49%**
5 years
5.74%**
6 years
6.24%**
7 years
6.99%**
Motorcycle 2003 - 2010
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4 years
9.24% - 18.00%**
Overdraft Loan
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5 years
N/A
All Other Secured & Unsecured Loans
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3 years
9.99% - 18.00%**
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5 years
10.24% - 18.00%**
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6 years
10.49% - 18.00%**
Check Credit Line
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5 years
N/A

*Preferred rate with automatic payment with payroll deduction.

** Rates quoted above are the lowest rates for qualified applicants. The above rates could be higher based on your Fair Isaac score (Learn more about Fair Issac scoring)

that we receive from the credit bureau.

Loan Information

Preferred Rate

You will qualify for the Preferred Rate if you pay your loan by payroll deduction, EFT deposit of net pay, pension or Social Security with Automatic Transfer, otherwise your loan rate will increase by 1/2%.

Share Certificate Secured

All Share Certificate Secured Loans are adjustable rate. The index is the APR of a Share Certificate being used as collateral. The index and monthly payment is subject to change each time a Certificate matures. If more than one Share Certificate is put up as collateral, the index will be the average weighted rate of the Share Certificate.

Home Equity Loans

Secured by Mortgage (Fixed Rate): Up to 15 Years.

Secured by Mortgage (Adjustable Rate): This open line-of-credit is for 10 years with a 15 year payback from your last advance (The Prime Rate posted in The Wall Street Journal minus 0.25 for payroll deduction with automatic payment on the last business day of the month, if there is more than one rate the interest rate will be the average of all the posted rates). The interest rate is subject to change monthly.

First Mortgages

Atlantic/ Pacific Mortgage Company is offering First Mortgages. Please call 1-888-826-1977 for more information.

Administrative Requirements

  1. The minimum payment on Check Credit Line and Overdraft loans is $40.00 or 2.00% of the monthly balance, whichever is greater.
  2. All Collateral Loans, must list the Credit Union as mortgage/lien holder on the insurance policy, with a deductible amount more than $500.00. If title is required as collateral, it must show an encumbrance in favor of ACUME CU. A signature loan can't be combined with a car loan. Title and insurance must be received before any other loans can be approved.
  3. A credit check and debt ratio analysis will be done on all loan applications (except Shares and/or Certificate Secured) and advances. FHA lending standards will generally apply to all loans.
  4. The Credit Union will determine the Annual Percentage Rate (APR) for each advance based on approximate loan term and Fair Isaac score* received from the credit reporting agency currently used by the Credit Union. The member has the right to know which credit union reporting agency the Credit Union used.

*Learn more about Fair Issac scoring.

Loan Limits

Unsecured Loans
Loan Limit
One year of steady income from one source
$1,000.00
Two years of steady income from one source
$2,000.00
Three years of steady income form one source
$4,000.00
Four years of steady income from one source
$6,000.00
Five years of steady income from one source
$8,000.00
Secured Loan Limits
Shares Secured 100% of your savings
and/or certificate account (excluding IRAs)
The Legal Limit
Car
$50,000.00
Motorcycle
$25,000.00
Home Equity Loan
$100,000.00
First Mortgages through Atlantic/ Pacific Mortgage Company
$500,000.00