IBEW Local 56 Federal Credit Union was chartered in 1961 - Once A Member ... Always A Member

Loan Specials


SchoolLoan Special

  • Available until September 30th
  • Borrow $500-$2,500 at a rate as low as 4.99%APR*
  • Delay the first payment up to 50 days
  • Up to 12 months to repay
  • Same day loan approval for qualifying applicants

*APR= Annual Percenatge Rate.  Other rates or limits may apply depending on lending criteria.  Loan must be backed by a 10% share pledge.  Borrower must be a credit union member for 3 months.  Subject to normal lending criteria: credit worthiness, lack of delinquency, ability to repay, & Credit Committee or Loan Officer approval.  Only one "special" loan per account.


*Home Equity Loan Rates* 

Home Equity Mini-Mortgage
  • Borrow $5,000 - $65,000
  • Minimum $5,000 newly borrowed money
  • Appraisal required 
  • Fixed Rates as Low as:
    • 60 Months:  2.75% APR* 
    • 90 Months:  3.00% APR*
    • 120 Months: 3.10% APR*
  • Borrow $2,000 - $15,000
  • May refinance existing
  • Mini-Mortgage with 50% new money
  • Fixed Rates as Low as:
    • 36 Months:  2.25% APR*
    • 60 Months:  2.75% APR*

*APR = Annual Percentage Rate.  A minimum of 20% equity in the property is required, 25% for rental property.  Rental property:  Add .75%APR.  Borrower is responsible for appraisal, search & filing fees.  Proof of Homeowner's Fire, Theft & Comprehensive Insurance with the Credit Union listed as "Loss Payee" is required.  Loan approval subject to all normal credit qualifications.  Loan interest may be tax-deductible.  No required share pledge.  Other rates may apply based on lending criteria.  Rates subject to change without notice.


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