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Loan Rates and Fees

 

 

 

Effective 03/1/09           
    Unsecured        
  Credit Score   Base Rate is: 8.00%    
    Limit- Mo Gross Term Limit Rate    
             
A+ 725 + 3 months 12 mo & less Base -2%

6.00%

 
    3 months 24 mo & less Base -1% 7.00%  
    3 months 25 - 36 month Base  8.00%  
             
A 675 - 724 3 months 12 mo & less Base -1% 7.00%  
    3 months 24 mo & less Base  8.00%  
    3 months 25 - 36 month Base +2% 10.00%  
             
B 625 - 674 3 months 12 mo & less Base +2% 10.00%  
    3 months 24 mo & less Base +3% 11.00%  
    3 months 25 - 36 month Base +5% 13.00%  
             
C 575 - 624 2 months 12 mo & less Base +6% 14.00%  
    2 months 24 mo & less Base +7% 15.00%  
    2 months 25 - 36 month Base +9% 17.00%  
             
D 525 - 574 2 months 12 mo & less Base +8% 16.00%  
    2 months 24 mo & less Base + 9% 17.00%  
    2 months 25 - 36 month Base + 10% 18.00%  
             
E below 525 2 months 12 mo & less Base +9% 17.00%  
    2 months 24 mo & less Base + 10% 18.00%  
    2 months 25 - 36 month Base + 10% 18.00%  
           
No member shall exceed $20,000 unsecured debt with NGHCU.  
Total unsecured debt (with us & others) cannot exceed 35% of Annual Gross Income for A+, A and B
Total unsecured debt (with us & others) cannot exceed 25% of Annual Gross Income for C, D and E
Personal Line of Credit Pre-Approvals are good for 1 year on A+, A, and B    
Personal Line of Credit Pre-Approvals are good for 6 months on C, D and E    
The same criteria applies for single signature, co-applicant, or co-signed loans    
The 3 month add-on waiting period is removed, however, if adding less than $500, a $50 re-financing fee is charged.
Special-Seasonal loans are no longer made. A single signature loan will replace all signature and seasonal loans.

 

    Title Secured      
  Credit Score   Base Rate is: 6.90%  
    MSRP limit Term Limit Rate Rate
A+ 725 + 110% 36 mo & less Base -2% 4.90%
    110% more than 36 mo Base  6.90%
          5.90%
A 675 - 724 100% 36 mo & less Base -1% 5.90%
    100% more than 36 mo Base  6.90%
          6.90%
B 625 - 674 90% 36 mo & less Base  6.90%
    90% more than 36 mo Base +1% 7.90%
          7.90%
C 575 - 624 90% 36 mo & less Base +2% 8.90%
    90% more than 36 mo Base +4% 10.90%
          8.90%
D 525 - 574 80% 36 mo & less Base +3% 9.90%
    80% more than 36 mo Base + 5% 11.90%
          9.90%
E below 525 80% 36 mo & less Base + 6% 12.90%
    80% more than 36 mo Base +7% 13.90%

 

The Maximum term for Title loans            
Age of Vehicle  Dollar        
New - 1year any 72 months      
2-3 year old any 60 months      
4-5 year old more than $5000 48 months      
6 years  & older  $5000 & less 36 months      
Title loans are automobiles, trucks, motorcycles, or mobile homes      
The maximum amount recommended for all Titled secured loans is 75% of gross annual income  
Used cars as collateral that is not "purchase money" - member must bring car to CU to be viewed or bring picture
           

 

  Shares Secured          
Credit Score NGH Shares Base Rate is: 2% over rate of
deposit securing loan
     
(does not matter) Amount Limit Term Limit Rate      
<525 ->725 100% of Shares 60 mo & less 2% over deposit
rate at time of loan
     
           
  PayrollADVance          
Credit Score   Base Rate is: 18.00%      
(does not matter)   Term Limit Rate Rate    
<525 ->725 $500 3 mo  Base 18.00%    
<525 ->725 $300 or less 2 mo  Base 18.00%    
             
  UCC1 Secured        
  Credit Score   Base Rate is: 8.90%    
    MSRP limit Termit Limit Rate Rate  
A+ 725 + 110% 24 mo & less Base -2% 6.90%  
    110%  25 mo - 48 mo Base  8.90%  
             
A 675 - 724 100% 24 mo & less Base 8.90%  
    100%  25 mo - 48 mo Base +1% 9.90%  
             
B 625 - 674 90% 24 mo & less Base +1% 9.90%  
    90%  25 mo - 48 mo Base +2% 10.90%  
             
C 575 - 624 80% 24 mo & less Base +2% 10.90%  
    80%  25 mo - 48 mo Base +4% 12.90%  
             
D 525 - 574 80% 24 mo & less Base + 4% 12.90%  
    80%  25 mo - 48 mo Base + 5% 13.90%  
             
E below 525 80% 24 mo & less Base + 6% 14.90%  
    80%  25 mo - 48 mo Base + 7% 15.90%  
           
The Maximum term for UCC1 loans is 48 months.  UCC1 loans are any new purchase item with a sales reciept.

 

Loan Sub Acct. Descriptions

Daily Periodic Rate

APR

Share Secured 2.0% over the Deposit Rate that is securing this loan  
Signature .016438% - .049315% 6.0% - 18.0%
Personal Line of Credit .016438% - .049315% 7.0% - 18.0%
Overdraft Line of Credit * .049315% 18.0%
* (If your credit limit allows, advances will be made in $50.00 increments)
Co-Maker Secured .016438% - .049315% 6.0% - 18.0%
UCC-1 Purchases .018904% - .043561% 6.9% - 15.9%
Vehicle Title Secured .013425% - .038082% 4.9% - 13.9%
Variable Rate Home Equity Adjusts Quarterly to 2.0% over Prime  

   

If a range of rates is shown, the ANNUAL PERCENTAGE RATE  you receive will be within the disclosed above and is based on certain credit-worthiness criteria. We will re-evaluate your credit worthiness at the time of a new advance,  if it has been 6 months since the last review.  The rate on your existing balance and new advance is subject to change at the time of a new advance, based on the re-evaluation.  Please ask the credit union for particular rate. An increase in your rate may result in a higher payment.

INSURANCE : You may be charged Collateral Protection Insurance, if you do not provide proof of insurance to us.

LIEN FILING FEE: You will be charged a filing fee at the time of an advance, if the credit union takes a security interest in your collateral.    The amount of the filing fee will be disclosed to you.

LATE CHARGE: If you are 15 or more days late, you will be charged a 5% of the amount in default.

COLLECTION COSTS:  You promise to pay all costs of collecting the amount you owe under this agreement including court costs and reasonable attorney fees.

PLEDGE OF SHARES: You pledge shares and dividends if any, and all deposits and interest in joint and individual accounts you have with us now and in the future as security for your loan accounts with the Credit union.  You authorize the Credit Union to apply these shares to what you owe on your loan accounts when you are in default on your account.  This pledge of shares does not apply to any Individual Retirement account or any other account that would lose special tax treatment under state or federal law.

 

Loan Fees

Loan Application $15.00 per loan

 

       

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GENERAL HOSPITAL OFFICE
1818 Albion Street
Nashville, TN 37208
Phone (615)341-4455
Fax (615)341-4528
BORDEAUX HOSPITAL OFFICE
1414 County Hospital Road
Nashville, TN 37218
Phone (615) 862-7026
Fax (615) 880-3600