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Rates & Terms
Loans
Revised 5/20/2010
Secured
Loans* |
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Type
of Loan |
Secured
By |
Maximum  |
APR  |
Other
Info |
Maturity |
| New Vehicles | Title | 100% MSRP | 4.25% | 2010/2011 | Up to 60 months |
| New Vehicles | Title | 100% MSRP | 4.99% | 2010/2011 | 72 Months |
| Used Vehicles | Title | 100% MSRP | 5.99% | 2009 | Up to 60 months |
| Used Vehicles | Title | 100% MSRP | 6.25% | 2005/2006/2007/2008 | Up to 60 months |
| Home Equity | Mortgage | $50,000 not to exceed 80% of appraised/CLRF property value | 6.25%/6.49%/6.99% | Fixed Rate/Closed End | 5 year/10 year/15 year |
| Home Equity Line of Credit | Mortgage | $50,000 not to exceed 80% of appraised/CLRF property value | 6.00% | Variable Rate Open End Line of Credit | 180 months |
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Unsecured
Loans* |
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Type of Loan |
Maximum |
APR |
Other
Info |
Maturity |
| Personal Loan | up to $5,000.00 | 12.00% | Fixed Rate | up to 60 Months |
| Credit Card Consolidation | up to $7,500.00 | 8.99% | Fixed | up to 72 Months |
| Computer Loan | up to $3,600.00 | 7.99% | Fixed Rate | up to 36 Months |
| Parent Loans for College Tuition | up to $5,000.00 | 7.50% | Fixed Rate | up to 36 Months |
| PACOE Cash Line | up to $10,000.00 | 6.00% | Variable Rate | UP to 144 months |
| * Must be
a member of the credit union for six months |
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Rates and Fees
Effective 5/20/2010
Regular
Share and Club Accounts |
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| Dividend Rate and APY (Annual Percentage Yield): The Annual Percentage Yield is a percentage rate that shows the total amount of dividends, based on the dividend rate and the frequency of compounding for a 365-day period. | ||||||||||||||||
| Type of Account | Term
|
Dividend Rate |
Projected APY |
Minimum
Balance |
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| Shares | None | .75% | .753% | $6.00 | ||||||||||||
| Share Drafts | None | 0.0% | 0.0% | $6.00 | ||||||||||||
| Christmas Club | 1 Year | 1.00% | 1.004% | $6.00 | ||||||||||||
| Vacation Club | None | 0.0% | 0.0% | $6.00 | ||||||||||||
| Variable Rate
Accounts: The dividend rate and annual percentage yield may change
every six months as determined by the credit union board of directors.
Nature of Dividends: Dividends are paid from current income and available earnings, after required transfers to reserves at the end of a dividend period. Once again, dividends can vary. Compounding: Dividends will be compounded semi-annually (every six months) and credited semi-annually (every six months). The dividend period is six months. The beginning date, ending date, and the dividend declaration dates are as follows:
Effect of Closing an Account: If you close your account before dividends are paid, you will not be paid the dividends accrued. Minimum Balance Requirements: In addition to the minimum balance requirements listed above you must deposit a minimum of $25.00 to join the credit union. To earn the annual percentage yield disclosed you must maintain the minimum balance indicated for each day of the dividend period. You will not earn dividends for any day that your account balance drops below the minimum listed above. How Dividends are Calculated: Dividends are calculated using the daily balance method. This method applies daily periodic rates to the balance in the account each day. When Dividends Begin to Accrue: Dividends begin to accrue on cash and non-cash deposits, such as checks; on the business day you make your deposit. Nontransferable/Nonnegotiable: Your credit union account is nontransferable and nonnegotiable; The funds in your account may not be pledged to secure any obligation except with this credit union. |
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Share
Certificate Accounts |
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| Dividend Rate and APY (Annual Percentage Yield): The Annual Percentage Yield is a percentage rate that shows the total amount of dividends, based on the dividend rate and the frequency of compounding for a 365-day period. For share certificate accounts, the Dividend Rate and Annual Percentage Yield are fixed and will be in effect for the term of the account. The Annual Percentage Yield is based on an assumption that dividends will remain on deposit until maturity. A withdrawal of dividends will reduce earnings. | |||
Certificate
Rate Schedule |
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| Type of Account | Dividend Rate |
Projected APY |
Minimum Balance |
| 6 Month CD | 0.85% | 0.853% | $500.00 |
| 9 Month CD | 1.00% | 1.004% | $500.00 |
| 1 Year CD | 1.10% | 1.105% | $500.00 |
| Dividends Compounding
and Crediting: Share
certificate dividends are compounded daily and credited semi-annually
and at maturity. The dividend period begins the day the share certificate
is purchased and ends the day the certificate matures.
Balance Information: The minimum balance requirements applicable to each account are set forth in the Certificate Rate Schedule (#2 above.) For Share Certificate accounts, dividends are calculated by the Daily Balance method, which applies a daily periodic rate to the principal in the account each day. Accrual of Dividends: For Share Certificate accounts, dividends will begin to accrue on cash and non-cash deposits on the business day you make the deposit to your account. Transaction Limitations: After your Share Certificate account is opened you are NOT allowed to make additional deposits. Early withdrawals are subject to penalties described below (#7.) The Share Certificate will automatically renew (see #9 below) according to the original type of certificate. Early Withdrawal Penalties: We may impose a penalty if you withdraw any of the principal before the maturity date. The amount of the early withdrawal penalty for you share certificate account is equal to 90 days dividends. If the account has not yet earned enough dividends the penalty will be deducted from the principal. Exceptions to Early Withdrawal Penalties: At our option, we may pay the account before maturity without imposing an early withdrawal penalty when the account owner dies or is determined legally incompetent by a court or other body of competent jurisdiction. Renewal Policy: On share certificate accounts, your account will automatically renew for another term upon maturity. You have a grace period of ten (10) days after maturity in which to make additional deposits to the account or withdraw funds (subject to minimum balance restrictions) from the account without being charged an early withdrawal penalty. Nontransferable/Nonnegotiable:
Your share certificate account is nontransferable and nonnegotiable.
The funds in your account may not be pledged to secure any obligation
except with this credit union. |
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| We do business in accordance with the Federal Housing Law and the Equal Credit Opportunity Act |
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| Copyright
© 2010 - Pacoe FCU |
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All costs of loans
to be paid by the member, including Title Search, Appraisal Fees, Notary
Fees, Recording & Satisfaction. Mortgage to be on residence, Member
responsible for costs incurred even if loan not approved