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

Loan Specials

tax time  If 2020 left you owing,

our Tax Time Loan Special will keep you going!

  • Available until April 30th
  • Borrow $500-$2,500 at a rate as low as 5.49%APR*
  • Delay the first payment up to 50 days
  • Up to 12 Months to Repay
  • Same day loan approval for qualifying applicants
  • Funds can be used for many purposes: to pay taxes, pay off a high interest credit card, vehicle repairs, to purchase a laptop, or for whatever you may need.

*APR=Annual Percentage 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 motnhs.  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:  2.50% APR 
    • 90 Months:  2.85% APR
    • 120 Months: 3.15% APR
  • Borrow $2,000 - $15,000
  • May refinance existing
  • Mini-Mortgage with 50% new money
  • Fixed Rates as Low as:
    • 36 Months:  2.00% APR
    • 60 Months:  2.50% APR
  • APR-Annual Percentage Rate 
  • A minimum of 20% equity in the property is required, 25% for rental property.
  • Rental property:  Add .75%
  • 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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