Share Secured Loans -
YEFCU's lowest rate loan. It requires that
the amount to be borrowed is in the member's regular share account, and is
pledged as security for the loan. Repayment terms for as long as 5
years.
Certificate Secured Loans - The ANNUAL PERCENTAGE RATE (APR)
for
Certificate Secured Advances is based on the dividend rate being paid on the
certificate offered as security (index) plus 4.00%. The APR will never be
lower than 6.00% or more than the rate allowed by the Federal Credit Union Act.
If the certificate is renewed, the APR will change to reflect the new dividend
rate. If the certificate is redeemed, the proceeds of the certificate
will be applied towards this advance and any balance will be immediately due
and payable. Any increase in the APR will result in higher payments.
The present APR and Daily Periodic Rate will be disclosed on the voucher
accompanying this advance.
