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Effective
03/1/09 |
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Unsecured |
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Credit Score |
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Base Rate is: |
8.00% |
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Limit- Mo Gross |
Term Limit |
Rate |
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A+ |
725 + |
3 months |
12 mo & less |
Base -2% |
6.00% |
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3 months |
24 mo & less |
Base -1% |
7.00% |
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3 months |
25 - 36 month |
Base |
8.00% |
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A |
675 - 724 |
3 months |
12 mo & less |
Base -1% |
7.00% |
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3 months |
24 mo & less |
Base |
8.00% |
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3 months |
25 - 36 month |
Base +2% |
10.00% |
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B |
625 - 674 |
3 months |
12 mo & less |
Base +2% |
10.00% |
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3 months |
24 mo & less |
Base +3% |
11.00% |
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3 months |
25 - 36 month |
Base +5% |
13.00% |
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C |
575 - 624 |
2 months |
12 mo & less |
Base +6% |
14.00% |
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2 months |
24 mo & less |
Base +7% |
15.00% |
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2 months |
25 - 36 month |
Base +9% |
17.00% |
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D |
525 - 574 |
2 months |
12 mo & less |
Base +8% |
16.00% |
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2 months |
24 mo & less |
Base + 9% |
17.00% |
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2 months |
25 - 36 month |
Base + 10% |
18.00% |
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E |
below 525 |
2 months |
12 mo & less |
Base +9% |
17.00% |
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2 months |
24 mo & less |
Base + 10% |
18.00% |
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2 months |
25 - 36 month |
Base + 10% |
18.00% |
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No member shall
exceed $20,000 unsecured debt with
NGHCU. |
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Total unsecured
debt (with us & others) cannot
exceed 35% of Annual Gross Income
for A+, A and B |
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Total unsecured
debt (with us & others) cannot
exceed 25% of Annual Gross Income
for C, D and E |
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Personal Line of
Credit Pre-Approvals are good for 1
year on A+, A, and B |
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Personal Line of
Credit Pre-Approvals are good for 6
months on C, D and E |
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The same
criteria applies for single
signature, co-applicant, or
co-signed loans |
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The 3 month
add-on waiting period is removed,
however, if adding less than $500, a
$50 re-financing fee is charged. |
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Special-Seasonal
loans are no longer made. A single
signature loan will replace all
signature and seasonal loans.
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Title Secured |
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Credit Score |
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Base Rate is: |
6.90% |
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MSRP limit |
Term Limit |
Rate |
Rate |
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A+ |
725 + |
110% |
36 mo & less |
Base -2% |
4.90% |
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110% |
more than 36 mo |
Base |
6.90% |
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5.90% |
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A |
675 - 724 |
100% |
36 mo & less |
Base -1% |
5.90% |
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100% |
more than 36 mo |
Base |
6.90% |
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6.90% |
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B |
625 - 674 |
90% |
36 mo & less |
Base |
6.90% |
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90% |
more than 36 mo |
Base +1% |
7.90% |
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7.90% |
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C |
575 - 624 |
90% |
36 mo & less |
Base +2% |
8.90% |
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90% |
more than 36 mo |
Base +4% |
10.90% |
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8.90% |
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D |
525 - 574 |
80% |
36 mo & less |
Base +3% |
9.90% |
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80% |
more than 36 mo |
Base + 5% |
11.90% |
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9.90% |
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E |
below 525 |
80% |
36 mo & less |
Base + 6% |
12.90% |
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80% |
more than 36 mo |
Base +7% |
13.90% |
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The Maximum term
for Title loans |
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Age of Vehicle |
Dollar |
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New - 1year |
any |
72 months |
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2-3 year old |
any |
60 months |
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4-5 year old |
more than $5000 |
48 months |
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6 years &
older |
$5000 & less |
36 months |
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Title loans are
automobiles, trucks, motorcycles, or
mobile homes |
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The maximum
amount recommended for all Titled
secured loans is 75% of gross annual
income |
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Used cars as
collateral that is not "purchase
money" - member must bring car to CU
to be viewed or bring picture |
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Shares Secured |
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Credit Score |
NGH Shares |
Base Rate is: |
2% over rate of
deposit securing loan |
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(does not
matter) |
Amount Limit |
Term Limit |
Rate |
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<525 ->725 |
100% of Shares |
60 mo & less |
2% over deposit
rate at time of loan |
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PayrollADVance |
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Credit Score |
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Base Rate is: |
18.00% |
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(does not
matter) |
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Term Limit |
Rate |
Rate |
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<525 ->725 |
$500
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3 mo |
Base |
18.00% |
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<525 ->725 |
$300 or less |
2 mo |
Base |
18.00% |
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UCC1 Secured |
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Credit Score |
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Base Rate is: |
8.90% |
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MSRP limit |
Termit Limit |
Rate |
Rate |
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A+ |
725 + |
110% |
24 mo & less |
Base -2% |
6.90% |
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110% |
25 mo - 48 mo |
Base |
8.90% |
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A |
675 - 724 |
100% |
24 mo & less |
Base |
8.90% |
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100% |
25 mo - 48 mo |
Base +1% |
9.90% |
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B |
625 - 674 |
90% |
24 mo & less |
Base +1% |
9.90% |
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90% |
25 mo - 48 mo |
Base +2% |
10.90% |
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C |
575 - 624 |
80% |
24 mo & less |
Base +2% |
10.90% |
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80% |
25 mo - 48 mo |
Base +4% |
12.90% |
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D |
525 - 574 |
80% |
24 mo & less |
Base + 4% |
12.90% |
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80% |
25 mo - 48 mo |
Base + 5% |
13.90% |
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E |
below 525 |
80% |
24 mo & less |
Base + 6% |
14.90% |
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80% |
25 mo - 48 mo |
Base + 7% |
15.90% |
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The Maximum term
for UCC1 loans is 48 months. |
UCC1 loans are
any new purchase item with a sales
reciept. |
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Loan Sub Acct. Descriptions |
Daily Periodic Rate |
APR |
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Share Secured |
2.0% over the
Deposit Rate that is securing this
loan |
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Signature |
.016438% -
.049315% |
6.0% - 18.0% |
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Personal Line
of Credit |
.016438% -
.049315% |
7.0% - 18.0% |
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Overdraft
Line of Credit * |
.049315% |
18.0% |
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* (If your
credit limit allows, advances will
be made in $50.00 increments) |
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Co-Maker
Secured |
.016438% -
.049315% |
6.0% - 18.0% |
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UCC-1
Purchases |
.018904% -
.043561% |
6.9% - 15.9% |
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Vehicle Title
Secured |
.013425% -
.038082% |
4.9% - 13.9% |
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Variable Rate
Home Equity |
Adjusts
Quarterly to 2.0% over Prime |
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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
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Loan
Application |
$15.00 per
loan |
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