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Links to other sites are provided for your convenience. West Covina FCU makes no assurances and has no responsibility for the content, accuracy, or completeness of the information contained on these sites and shall not be held liable for such.
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Loan rates may vary depending on the member's invidual credit history. All loans are subject to approval. This is a summary of current loan policy established by the Board of Directors. It establishes the maximum allowed, and as such, does not guarantee that a loan applicant will qualify or that a loan request will be approved for the maximum. Loan amounts, terms and interest rates are determined by the Board of Directors and subject to change without notice, and the policy and rates in effect the date the application is approved will take precedence.
There is a loan processing fee of $20.00 (refundable at loan funding).
| NEW VEHICLES |
Model Years 2007-2009 |
Maximum Loan $50,000 |
| Term |
Annual Percentage Rate |
Daily Periodic Rate |
| 24 months |
3.99% - 13.99% |
0.010932% - 0.038329% |
| 36 months |
4.25% -14.25% |
0.116439% - 0.039041% |
| 48 months |
4.75% - 14.75% |
0.013014% - 0.040411% |
| 60 months |
4.99% - 14.99% |
0.013671% - 0.041068% |
| 72 mos $12,000 min |
5.25% - 15.25% |
0.014384% - 0.041781% |
| 84 mos $20,000 min |
5.99% - 15.99% |
0.016411% - 0.043808% |
Finance up to 100% of the purchase price, plus tax, license, Mechanical Breakdown Insurance (extended warranty), and/or GAP. Interest you pay may be tax deductible - ask us how.
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| USED VEHICLES |
Model Years: 1999 - 2007 |
Maximum Loan $50,000 |
| Term |
Annual Percentage Rate |
Daily Periodic Rate |
| 24 months |
3.99% - 16.49% |
0.010932% - 0.045178% |
| 36 months |
4.25% - 16.75% |
0.116439% - 0.045890% |
| 48 months |
5.75% - 15.75% |
0.015753% - 0.043151% |
| 60 months |
4.99% - 17.49% |
0.013671% - 0.047918% |
| 72 mos $12,000 min |
5.25% - 17.75% |
0.014384% - 0.048630% |
Finance up to 100% of the purchase price plus tax, license, Mechanical Breakdown Insurance (extended warranty), and/or GAP (asset protection), not to exceed 125% LTV. Interest you pay may be tax deductible - ask us how.
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| NEW BOAT w/TRAILER (all watercraft) |
Model Years 2007-2009 |
Maximum Loan $60,00 |
| Term |
Annual Percentage Rate |
Daily Periodic Rate |
| 36 months |
5.50% - 15.50% |
0.015068% - 0.042466% |
| 48 months |
5.75% - 15.75% |
0.015753% - 0.043151% |
| 60 months |
6.00% - 16.00% |
0.016438% - 0.043836% |
| 72 months |
6.25% - 16.25% |
0.017123% - 0.043836% |
| 120 months |
6.50% - 16.50% |
0.017808% - 0.045205% |
| 144 months |
7.50% - 17.50% |
0.020548% - 0.047945% |
Finance up to 100% of the purchase price, plus tax and license.
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| USED BOAT w/TRAILER (all watercraft) |
Model Years 1998-2007 |
Maximum Loan $60,000 |
| Term |
Annual Percentage Rate |
Daily Periodic Rate |
| 36 months |
5.50% - 18.00% |
0.015068% - 0.049315% |
| 48 months |
5.75% - 18.00% |
0.015753% - 0.049315% |
| 60 months |
6.00% - 18.00% |
0.016438% - 0.049315% |
| 72 months |
6.25% - 18.00% |
0.017123% - 0.049315% |
| 120 months |
6.50% - 18.00% |
0.017808% - 0.049315 |
| 144 months |
7.25% - 18.00% |
0.019863% - 0.049315% |
Finance up to 100% of the wholesale NADA or Kelley Blue Book including extras, or the purchase price, whichever is less, plus tax and license (not to exceed 125% LTV).
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| NEW RVs & TRAVEL TRAILERS |
Model Years 2007-2009 |
Maximum Loan $70,000 |
| Term |
Annual Percentage Rate |
Daily Periodic Rate |
| 36 months |
5.50% - 15.50% |
0.015068% - 0.042466% |
| 48 months |
5.75% - 15.75% |
0.015753% - 0.043151% |
| 60 months |
6.00% - 16.00% |
0.016438% - 0.043836% |
| 72 months |
6.25% - 16.25% |
0.017123% - 0.044521% |
| 120 months |
6.50% - 16.50% |
0.017808% - 0.045205% |
| 144 months |
7.50% - 17.50% |
0.020548% - 0.047945% |
Finance up to 100% of purchase price plus tax and license.
|
| USED RVs & TRAVEL TRAILERS |
Model Years 1993-2007 |
Maximum Loan $70,000 |
| Term |
Annual Percentage Rate |
Daily Periodic Rate |
| 36 months |
5.50% - 18.00% |
0.015068% - 0.049315% |
| 48 months |
5.75% - 18.00% |
0.015753% - 0.049315% |
| 60 months |
6.00% - 18.00% |
0.016438% - 0.049315% |
| 72 months |
6.25% - 18.00% |
0.017123% - 0.049315% |
| 120 months |
6.50% - 18.00% |
0.017808% - 0.049315% |
| 144 months |
7.25% - 18.00% |
0.019863% - 0.049315% |
Finance up to 100% of the wholesale NADA or Kelley Blue Book including extras, or the purchase price, whichever is less, plus tax and license (not to exceed 125% LTV).
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| NEW MOTORCYCLES |
Model Years 2007-2009 |
Maximum Loan $25,000 |
| Term |
Annual Percentage Rate |
Daily Periodic Rate |
| 24 months |
6.00% - 16.00% |
0.016438% - 0.043836% |
| 36 months |
6.25% - 16.25% |
0.017123% - 0.044521% |
| 48 months |
6.50% - 16.50% |
0.017808% - 0.045205% |
| 60 months |
6.75% - 16.75% |
0.018493% - 0.045890% |
| 72 months |
7.50% - 17.50% |
0.020548% - 0.047945% |
| 84 months |
7.75% - 17.75% |
0.021233% - 0.048630% |
| 96 months |
8.99% - 18.00% |
0.024630% - 0.049315% |
Finance up to 100% of purchase price plus tax and license.
|
| USED MOTORCYCLES |
Model Years 2002-2007 |
Maximum Loan $25,000 |
| Term |
Annual Percentage Rate |
Daily Periodic Rate |
| 24 months |
6.00% - 18.00% |
0.016438% - 0.049315% |
| 36 months |
6.25% - 18.00% |
0.017123% - 0.049315% |
| 48 months |
6.50% - 18.00% |
0.017808% - 0.049315% |
| 60 months |
6.75% - 18.00% |
0.018493% - 0.049315% |
| 72 months |
7.50% - 18.00% |
0.020548% - 0.049315% |
| 84 months |
7.75% - 18.00% |
0.021233% - 0.049315% |
| 96 months |
8.99% - 18.00% |
0.024630% - 0.049315% |
Finance up to 100% of the wholesale NADA or Kelley Blue Book including extras, or the purchase price, whichever is less, plus tax and license (not to exceed 125% LTV).
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| PERSONAL LOANS |
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|
| Loan Type |
Annual Percentage Rate |
Daily Periodic Rate |
| Personal Loan |
9.00% - 17.00% |
0.025342% - 0.046575% |
Maximum Amount Financed up to &7,500
|
| VISA Classic |
10.8% - 17.59% |
0.029589% - 0.048192% |
Maximum Amount Financed up to $6,000
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| Spring Loan (Seasonal) |
7.25% - 14.75% |
0.019863% 0 0.040411% |
Maximum Amount Financed up to $2,500
|
| Summer Loan (Seasonal) |
7.25% - 14.75% |
0.019863% - 0.040411% |
Maximum Amount Financed up to $2,500
|
| Holiday Loan (Seasonal) |
N/A |
N/A |
Maximum Amount Financed TBD
|
| Overdraft/LOC Loan |
16.00% |
0.043836% |
Maximum Amount Financed up to $300
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| SHARE SECURED LOANS |
|
|
| Loan Type |
Annual Percentage Rate |
Maximum Term |
| Share Secured Loan |
2% above highest share div rate |
120 months |
Up to 90% of available balance
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| Certificate Sec. Loan |
3% above current dividend rate |
Up to term of certificate |
Up to 90% of principal
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| REAL ESTATE LOANS |
|
Maximum Loan $100,000 |
| Loan Type |
Annual Percentage |
Daily Periodic Rate |
| Home Equity Line of Credit Loan |
Intro base rate 3.99% - 1st 6 mos |
0.010932% |
| |
Variable thereafter |
Variable |
Rate Cap - 2% cap per year - Max rate 18%
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Please refer to Advance Truth in Lending Disclosure for complete HELOC terms and conditions.
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PLEASE READ-IMPORTANT MISCELLANEOUS INFORMATION:
Loan rates and terms may vary depending on the member's individual credit history, participation discounts, vehicle model year,
mileage, and amount borrowed.
All loans are subject to approval. This is a summary of the current loan policy established by the Board of Directors. It
establishes the minimum and maximum rates, terms and dollar amounts available, but as such, does not in any way guarantee
that a loan applicant will qualify or that a loan request will be approved for the maximum. Loan amounts, terms, and interest
rates are determined by the Board of Directors and is subject to change without notice, and the policy and rates in effect the
date the application is approved will take precedence. No joint owner shall be permitted to obtain a loan unless they are the
primary member on an account.
Most recent paycheck stubs for each applicant (the last two) and the WCFCU Loan Information and Fee Disclosure Form are
required with each submission of a loan application (with the exception of Share and Certificate Secured Loans). Total personal
loans cannot exceed $13,500. All loans being secured by vehicles (purchases, refi's or for cash out), may be subject to physical
inspection. The West Covina Federal Credit Union will not hold title on salvaged vehicles (verification may be required).
On used vehicles, mileage cannot exceed the following (based on the age of the vehicle):
- 1 -6 years old - 95,000 miles
- 7 - 9 years old - 120,000 miles
Minimum payment on all loans is $40.00 per month (except VISA, HELOC, and Overdraft LOC).
Minimum payment on HELOC is $50.00 per month.
Minimum payment on Overdraft LOC is $25.00 per month.
Loan Processing Fee (refundable at funding)- $20.00
Late chg for loan pmt - not to exceed - $25.00
Cancellation of loan by applicant (once docs typed) - $25.00
Member request to change due date after loan funded - $25.00
Participation Discounts: Member's could receive up to 1.00% off their determined loan rate by combining at least four of the
following services/products (at .25% off for each). Discount subject to cancellation if member discontinues service/product they
have agreed to subscribe to to receive a loan discount (not appl for HELOC,VISA,Quick Cash and Share/Cert Sec).
- For every 10% down payment
- Purchase a Hybrid Vehicle
- Purchase a WCFCU GAP Policy (one time cost $299.00)
- Direct Deposit/Payroll Deduction/Direct Debit from another institution for loan payment
- Enroll for Loan Protection Insurance (Credit Life and/or Credit Disbility) through WCFCU
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Find the CO-OP ATM closest you.
West Covina Federal Credit Union is federally insured by the National Credit Union Administration.
We are an Equal Opportunity Lender.
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