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

Loan Specials

tax timeLoan Special 

  • 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

*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 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: 5.00% APR* 
    • 90 Months: 5.25% APR*
    • 120 Months: 5.50% APR*
  • Borrow $2,000 - $15,000
  • May refinance existing
  • Mini-Mortgage with 50% new money
  • Fixed Rates as Low as:
    • 36 Months:  4.65% APR*
    • 60 Months:  5.00% 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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