ENGINEERS FEDERAL CREDIT UNION
Services
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We offer Share accounts, Christmas Club accounts and Loans LOANS: New and Used Auto, Boat ,Motorcycles/RVs/ ATVs/Personal,Christmas /Vacation loans, and Share Loans. We offer Credit Life and Credit Disability on all loans. We now offer GAP Insurance for auto purchases. GAP will pay off your loan balance in the event of your vehicle being totaled by insurance company if insurance does not pay in full. GAP is $250.00 , GAP plus is $275.00. DIVIDENDS: Dividends (interest paid on shares) are computed and distributed semiannually as of June 30 and December 31 on all shares. Dividends are paid on the AVERAGE DAILY COLLECTED BALANCE . Dividend rates are determined by the Board of Directors in June and December. PAYROLL DEDUCTIONS: Members may elect to have a minimum of $5.00 per pay period deducted from their payroll to be credited to their share account or applied biweekly to their loans. All shares are insured for up to $250,000.00 by the NCUA . VACATION LOAN SPECIAL- $1200.00 FOR 12 MONTHS @ 8% FROM JULY 1,2010 THROUGH AUGUST 31,2010 WHEN YOU SET UP A DIRECT DEPOSIT ALLOTMENT. 26 BI-WEEKLY PAYMENTS OF $48.00. New Auto /Truck/Van Used Auto/Truck/Van up to 24 mos. 4.00% up to 24 Mos. 4.00% up to 36 mos.
4.50%
up to 36 Mos. 4.50% up to 48 mos 5.00 % up to 48 Mos. 5.00% up to 60 mos. 5.50% up to 60 Mos. 5.50% up to 72 mos. 6.00% up to 72 Mos. 6.00% Older
autos 5 years and older up to 36 months 7.00%
Personal Loans 13.50% Share Secured 4.25% ( up to 100% of available share balance ) Vacation Loans 12.00% Other Collateral 7.00% *Computers,riding Lawn mowers,etc. Christmas Loans 12.00% A $10.00 late fee will be charged on loans 15 days or more delinquent. Skip A Payment fee is $10.00 per loan. Call the credit union for rates not listed. ****EFCU MAY MATCH A DEALERSHIP RATE-CALL CREDIT UNION FOR DETAILS-SOME RESTRICTIONS MAY APPLY.****
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