Ca$hline is a personal line of credit from Industrial Credit Union, offering you the ultimate in flexibility. Unlike traditional loans, where the full loan amount is distributed as a lump sum, a Ca$hline lets you take only what you want when you want it, up to your predetermined credit limit.
Use your line of credit to pay for automotive repairs, vacations, weddings, appliance purchases or other unexpected expenses.
You can access your line of credit at any branch, through OnLine Banking or with your debit card.
If you don’t want to lock up collateral to secure a loan, a personal loan from Industrial Credit Union is just for you. Payments are flexible based on the amount you borrow and your budgetary requirements. Like a Ca$hline, you can use the proceeds for any purpose.
Deposit Secured Loans
This loan is secured by funds you have on deposit in a share account at the Credit Union. If you need to build or improve your credit, this loan product is perfect for you.
|Loan rates shown here are current as of:|
|January 1, 2017|
This is provided to disclose the periodic rate and corresponding ANNUAL PERCENTAGE RATE (APR) for the variable and fixed rate loans under your Loan Agreement & Disclosure, in addition to providing rate information on our closed-end loan programs. The rates disclosed on this Loan Rate Schedule that are a part of your Loan Agreement & Disclosure are incorporated therein by this reference. All rates are fixed unless noted as variable.
The ANNUAL PERCENTAGE RATE you receive will be within the range disclosed. The APR and financing are based on your credit worthiness at the time of the advance.
All loan rates, fees and terms are subject to change without notice. Additional terms and conditions may apply.
All terms listed are the maximum amortization for repayment. Actual repayment time may vary based on additions to the principal balance and the timing between payments received at the Credit Union.
Maximum amortization for loans with a balloon payment will vary according to the type of security.
Late fees will be assessed when any payment is past due for a period of fifteen (15) days or more. The late fee on all loans will be 5% of the delinquent payment with a minimum of $5.00.
Vehicle loans include new vehicle purchases, refinance of vehicle purchases originally financed elsewhere, and loans secured by vehicles you already own, such as cars, trucks or street-legal motorcycles.
Recreational vehicles include new vehicle purchases, refinance of vehicle purchases originally financed elsewhere, and loans secured by vehicles you already own, such as RVs, boats, and airplanes.
Miscellaneous purchase loans include such items as pianos, hot tubs, tractors, dirt bikes and computers. Such items can be processed for the original purchase only.
Deposit Secured Loans
The rate and term for a Share Secured loan is based on the amount of funds on deposit at the credit union and the dividend rate currently paid.
The interest rate on a deposit secured loan is variable and will change as the dividend rate paid on the deposit changes.
Variable Rate Loans
ANNUAL PERCENTAGE RATE (APR) – APR is based on the value of an index. The index is the average of the auction rates on 26-week U.S. Treasury securities for the previous calendar quarter, as made available by the U.S. Treasury Bureau of Public Debt. To determine the ANNUAL PERCENTAGE RATE that will apply to your account, we take the value of the index and add a margin. After you open an account, rate information will be provided on periodic statements that we will send you.
Rate Changes – The ANNUAL PERCENTAGE RATE will change quarterly on January 1, April 1, July 1, and October 1, based on the index for the previous quarter. The maximum ANNUAL PERCENTAGE RATE that can apply over the life of the loan is 24% and the minimum ANNUAL PERCENTAGE RATE that can apply is the margin.
Payments – Any increase/decrease in your ANNUAL PERCENTAGE RATE will affect the number of monthly payments. However, if the amount of the monthly payment is not enough to pay at least the Finance Charge accrued during the month, the Credit Union will increase your monthly payment accordingly.
|Ca$hline||Varies||Variable Rate & Term||7.59% – 17.59%|
|Personal (Fixed Rate)||Varies||Varies||7.50% – 17.50%|