Deposit Secured Loans

Loans Secured by Savings

Use your savings account, Command Fund, share certificate, or Premium Plus as collateral to borrow the money you need, and spread your payments out over a flexible repayment period. You can apply now:

Deposit Secured Rates (Effective 4/1/2017 – Until Further Notice)

SHARE LOAN RATES
The Annual Percentage Rate (APR) is calculated at 2.50% above dividend rate paid on the Share account. (Loans secured by Shares are variable rate loans and may increase or decrease as often as monthly after the loan origination date). Terms are 12 months per $1,000.00 borrowed.

PREMIUM PLUS LOAN RATES
The APR is calculated at 2.50% above the dividend rate paid on the $10,000.00 to $24,999.99 tier of the Premium Plus account, regardless of daily balance in the Premium Plus account. (Loans secured by Premium Plus accounts are variable rate loans and may increase or decrease as often as monthly after the loan origination date.) Terms are 12 months per $1,000.00 borrowed.

COMMAND FUND LOAN RATES
The APR is calculated at 2.50% above the dividend rate paid on the $2,000.00 and above tier of the Command Fund account, regardless of daily balance in the Command Fund account. (Loans secured by Command Fund accounts are variable rate loans and may increase or decrease as often as monthly after the loan origination date.) Terms are 12 months per $1,000.00 borrowed.

CERTIFICATE LOAN RATES
The APR is calculated at 2.50% above the rate paid on the certificate for the loan term. (Loans secured by Certificates are fixed rate loans.) Terms are 12 months per $1,000.00 borrowed.

Other Secured Loans

Shopping for new furniture, appliances, or a computer? TFCU can help you with a fixed rate secured loan and a flexible repayment period. We can also consolidate your high interest loans into one low interest payment with a secured loan. You can apply now:

Secured Rates (Effective 4/1/2017 – Until Further Notice)

Rates disclosed below are annual percentage rates (APR)

Special needs equipment loans discounted by 1.00% off stated rates.

Fixed: Rates range between 6.95% APR to 12.95% APR with terms up to 60 months. Rates are based on member’s credit history and term requested.

Example Transactions for Secured Loans:

Collateral Household
Goods
Household
Goods
Purchase Price
7,500.00 7,500.00
Amount Financed 7,500.00 6,000.00
Term (Months) 60 48
Loan to Value 100% 80%
Down Payment 0.00 1,500.00
APR 6.95% 12.95%
Fixed or Variable Fixed Fixed
Monthly Payment 148.33 160.80
Total Repayment 8,899.57 7,718.15
Payment Per $1,000.00 19.78 26.80

 

 

 

 

 

 

 

 

 

 

 

Includes: household goods, computers, tractors, trailers, farm equipment, horse trailers (including those with living quarters), spas, musical instruments, special needs equipment, electric vehicles (street legal low speed vehicles), etc.

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