FEDCom Credit Union: Loan Rates

Loan Rates

Auto Loans
	Approximate Term	Rate
New 2010	0-60 Months	2.99%-15.49%
	61-72 Months*	3.99%-6.99%
	73-84 Months*	4.99%-7.99%

New/Used 2009-2006	0-60 Months	3.99% to 16.49%
	61-72 Months*	4.99% to 7.24%
	73-84 Months*	5.99% to 8.24%

Used 2005-2002	0-48 Months	4.99% to 17.74%

*Specific terms and minimum amounts apply. Contact the loan department for more details.
APR = Annual Percentage Rate; Rates are subject to change daily.
AAA Members Show Your Card and Save: AAA Members can receive a 25 basis point reduction on all auto loans.
Rates Effective August 1, 2010

Home Equity Loans (Installment)
	Approximate Term	Rate
	0-60 Months	5.00% to 6.50%*
	61-120 Months	5.25% to 6.75%*
	121-180 Months	5.50% to 7.00%*
*Based on 75% Loan to Value
Contact your tax advisor for deductibility of interest
Rates Effective August 1, 2010

Home Equity Line of Credit (HELOC)
	Approximate Term	Rate
	Contact Loan Dept for Details	5.00% to 7.50%
Variable Rate; Subject to change; No Annual Fee; Initial draw $5000 minimum; Contact you tax advisor for deductibility of interest.
Rates Effective August 1, 2010

Mortgages
	Approximate Term	Rate
	Contact our Loan Dept for up to date interest rates and mortgage terms available at 616.364.7283 or 888.364.6928.

Contact your tax advisor for deductibility in interest
Rates Effective August 1, 2010

Recreational Type Loans
	Approximate Term	Rate
New/Used	0-180 Months	6.50% to 18.00%
Rates Effective August 1, 2010

Other Loans
	Approximate Term	Rates
Share/Hi-Yield Pledge	0-60 Months	4.25%

Qwik Cash Instant Line of Credit	0-42 Months	8.25% to 11.75%
No annual fee or minimum amount required
Rates Effective August 1, 2010

Signature (Unsecured)	0-60 Months	10.00% to 19.00%
Rates Effective August 1, 2010

Loan Terms and Conditions

All Rates Expressed as Annual Percentage Rate (APR)

Collection Costs

You promise to pay all costs of collecting your delinquent accounts to the extent permitted by state law.

Late Charge

Loans closed prior to December 1, 2005: If a payment is 30 or more days late, you may be charged 20% of the interest due.
Effective December 1, 2005, Late Charges for all new loans will be as follows:

Consumer Loan: If your payment is more than 10 days late you will be charged a $10 late fee.

Home Equity Line of Credit: If your payment is more than 15 days late you will be charged a $25 late fee.

Home Equity Installment: If your payment is more than 30 days late you may be charged $0.25 or 20% of interest due, which ever is greater.

Prime Rate for Qwik Cash Line of Credit Accounts

The margin and Annual Percentage Rate (APR) for new and existing balances will change on the 1st day of each quarter (January, April, July, October) to reflect any change in the Index. The Index is the Prime Rate as Published in the Money Rates column of the Wall Street Journal. The APR is determined by adding a margin to the Index. We will use the most recent index value as of the most recent business day before any APR change. The Annual Percentage Rate will never exceed 25%. If the APR increases, you will make more payments of the same amount.

Qwik Cash Minimum Monthly Payment

Your minimum monthly payment is the greater of $15.00 or 3% of the balance due.

Prime Rate for Home Equity Line of Credit Loans

This plan has a variable rate feature and the Annual Percentage Rate (corresponding to the periodic rate) and the minimum payment may change as a result. The Annual Percentage Rate includes only interest and no other costs. The Annual Percentage Rate is based on the value of an index. The index is the Prime Rate published in the Money Rates column of the Wall Street Journal. When a range of rates has been published the highest rate will be used. We will use the most recent index value available to us as of 20 days before the date of any Annual Percentage Rate adjustment. The Annual Percentage Rate can change quarterly the first day of January, April, July and October. There is no limit on the amount by which the Annual Percentage Rate can change during any one year period. The maximum Annual Percentage Rate that can apply is 25% or the maximum permitted by law, whichever is less.

Last Updated: July 30, 2010