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Effective Date: September 2, 2008
SUMMER LOAN SPECIAL
UP TO $5,000 FOR 36 MO. WITH A RATE AS LOW AS 4.65%
EFFECTIVE JULY 17TH TO SEPTEMBER 30TH
WE NOW OFFER "PERFORMANCE REWARD PRICING"
YOUR RATE IS DETERMINED BY YOUR SCORE
TITLED VEHICLE LOANS
New Vehicle Loans (automobiles, Trucks, Vans, 4-Wheelers, Motor Cycles)
(2007-2008)
100% financing on new vehicles up to 72 months
| Term | *APR (apr is annual percentage rate) | |
| Up to 48 months | 5.00% to 9.25% | |
| Up to 60 months | 5.25% to 9.50% | |
| *Up to 72 months | 5.75% to 10.00% | |
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(*$20,000 or over or 4x4's) | ||
Used Vehicle Loans (automobiles, Trucks, Vans, 4-Wheelers, Motor Cycles)
Used vehicles can be financed up to 100% of the established NADA value.
| Year | Term | *APR |
| *2008-2007-2006-2005-2004 (*$20,000 or over or 4x4) | Up to 72 months |
6.25% to 10.50% |
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2008-2007-2006-2005-2004 |
Up to 60 months | 5.65% to 9.90% |
| **2003-2002-2001 | Up to 48 months | 6.75% to 11.00% |
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**2000 & older |
Up to 30 months |
8.50% to 12.750% |
| (** can add 12 months if over $10,000 or 4x4) |
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| 2000 or older needs a picture & visual inspection by credit union | *APR is Annual Percentage Rate | |
| Calculate Loan Payment |
GLFFCU also offers our Auto Buying Resource Center, which will provide you with valuable tips, research, and information to help you make this important decision.
Snowmobiles
7.25% to 11.50% - 36 months
8.00% to 12.25% - 48 months
8.50% to 12.75% - 60 months
Motorhomes, Travel Trailers & Campers
(up to 100% financing)
| New | Term | *APR |
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2008-2005 |
60 months | 5.65% to 9.90% |
| 2008-2005 | 84 months |
6.65% to 10.90% |
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Balloon rates: (2008-2005) 5 year balloon 120 mo. payout-6.00% to 10.25% 180 mo. payout-7.00% to 11.25% |
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| Used | ||
| 2007-2000 | 60 months | 7.25% to 11.50% |
| 2007-2000 | 84 months |
8.00% to 12.25% |
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Balloon rates: (2007-2000) 5 yr balloon Up to 84 mo. - 7.50% to 11.75% Up to 120 mo. - 8.50% to 12.75% 1999-1996 Up to 72 mo. - 8.50% to 12.75% 1995 & older Up to 60 mo. - 9.50% to 13.75% |
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| Calculate Loan Payment |
Boats, Lawn Tractors, Farm Tractors, Dirt Bikes
7.00% to 11.25% 36 months
7.50% to 11.75% 48 month
8.00% to 12.25% 60 months
(will go to 120 months with 5 year balloon - boats over $15,0000 - add 1% to 5 year rate)
| *APR is Annual Percentage Rate | ||
| NADA Guides |
Note - When a vehicle or RV is used as security on a loan and the balance of the loan is $3,500.00 or more, full coverage insurance with a loss payable clause to Great Lakes First Federal Credit Union is required. Proof of the loss payable clause is to be supplied to the Credit Union by the member's insurance company. This is for both the member's and Credit Union's protection.
VISA CREDIT CARDS
A Great Lakes First Federal Credit Union VISA credit card provides its members with everything they are looking for in a credit card. These benefits include:
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No Annual Fee |
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25 Day Grace Period |
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Worldwide Acceptance |
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Cash Advance Convenience |
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No Cash Advance Fee |
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Low Fixed Interest Rate - 12.9% APR CLASSIC - 8.9% APR PLATINUM |
Click here to request a VISA Application
| CREDIT DISCLOSURES | |
| Annual Percentage Rate | Minimum Finance Charge |
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CLASSIC 12.9 %PLATINUM 8.9% |
- 0 - |
| Annual Membership Fee | Grace Period for Repayment of the Balance for Purchases |
| - 0 - | 25 Days |
| Late Payment Fee | Over the Limit Fee |
| $15.00 | - 0 - |
| Method of Computing the Balance for Purchase | |
| Average Daily Balance including new purchases | |
GLFFCU?s Home Buying Center is now available for our members! Browse the informative articles, use the financial calculators, and find great resources to help make your new home buying experience easier and more convenient.
Real Estate Loans
Real estate lending includes both first and second mortgages. Mortgage amounts can be up to $150,000.00. We will finance up to 80% of the appraised value on both first and second mortgages. An appraisal is required on loans of $35,000.00 or more.
1st Mortgages
| Term | APR (Annual Percentage Rate) |
| 5 year balloon - up to 180 months | 5.50% |
| 5 year balloon - up to 240 months | 5.75% |
| 5 year balloon - up to 300 months |
5.90% |
Fixed rates up to 9 years 6.25%
2nd Mortgages-20 year maximum payback
$200.00 application fee is due when the application is approved and is non-refundable. We do not charge any points or percentage fees. All other costs are standard out-of-pocket costs consisting of surveys, appraisals, title insurance, and related costs: credit reports, flood certifications, deed preparation, and recording fees.
Home Construction Loans
Loans for home construction are available at a rate of 1.5 % above the 5-year (180 mo.) balloon rate. The loan is a one-payment note for 6 months. Construction should be completed at the note maturity. Interest is to be paid monthly. $500 application fee. Contact a loan officer for further details.
For additional mortgage products contact the loan department at (906) 786-4623 or (906) 428-2362.
If you intend to use the loan for home improvements, take a look at the Home Improvement Resource. You?ll get some additional information to avoid potential pitfalls and unforeseen problems that come with making major updates. You also find useful advice and helpful tips.
New Mobile Home Loans (Current Model Year With No Prior Owners)
10% down
| Term | *APR |
| Up to 10 years | 8.50% to 12.75% |
| Up to 15 years | 9.50% to 13.75% |
| Up to 20 years | 10.25% to 14.50% |
| *Annual Percentage Rate | |
Used Mobile Home Loans
10% down
No mobile home made prior to 1977 will be financed.
| Term | *APR |
| Up to 10 years | 9.50% to 13.75% |
| Up to 15 years | 10.50% to 14.75% |
| *Annual Percentage Rate | |
| NADA Guides |
Check out GLFFCU?s Loan Management Resources to for great information, educational articles, and valuable hints to keep your credit in tip-top shape!
Share Secured Loans
Share secured loans can be secured by either a share certificate or regular share (savings). The loan must be 100% secured to qualify for the rates listed below.
| Share (savings) secured | 4.00% *APY (60 mo. max or can do a balloon) |
| Share certificate secured | 2% above S.C. rate |
| *Annual Percentage Rate | |
Closed End Personal Loans
Personal loans can be used for a wide variety of purposes. These loans have fixed repayment terms. The amount is based on each member's qualification and credit history.
| Term | *APR |
| Up to 24 months | 7.75% to 12.00% |
| Up to 36 months | 9.00% to 13.25% |
| Up to 48 months | 9.50% to 13.75% |
| *Annual Percentage Rate | |
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One Payment Note
*Titled collateral (purchase money only!) - corresponding rate of collateral
*Untitled collateral (purchase money only!) - 9.00% to 13.25%
Personal - 10.50% to 14.75%
*Purchase money only!
Revolving Credit Loans (Open End)
Under this program, our members apply for a line of credit loan. Once approved, the Credit Union will assign a maximum credit limit. Advances can be made at any time up to the credit limit without reapplying each time. Members will be asked to update credit information yearly or at the discretion of the loan officer making the advance. Rate 14.50%*APR(*Annual Percentage Rate).
Seasonal Loan Special
The Credit Union does offer, at various times throughout the year, seasonal loan specials. In the past, Christmas, Vacation, and Home Improvement specials have been offered. Check the What's New section of our Web site or call one of our Loan Officers for more information.
Related Links:
Home | Credit
Union Info | Services | Loan Programs
| Rates
Kids Corner | Applications |
Disclosures
| Calculators | Membership
Financial Resource Center | Members Financial Network
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Copyright©, Great Lakes First FCU, 2000
Duplication of information found within this site, is prohibited without express written permission from Great Lakes First FCU. Any modification or redistribution of the material within is a violation of applicable copyright laws. Information is subject to change without notice. Additional restrictions may apply.
Great Lakes First FCU
2110 Third Avenue North
Escanaba, MI 49829
Phone (906) 786 - 4623
Fax (906) 786 - 6724
