Loans

Loans at our Credit Union are low cost. But don’t just take our word for it. Shop before you borrow. Find out how much a loan costs in dollars and cents, not just in percentages.

Here for your benefit, not ours.

Our Credit Union exists to meet the needs and requirements of members, not to make a profit on them. Members can borrow for virtually any worthwhile purpose — emergencies that demand cash, consolidation of pressing debts, or installment purchases of any kind. Members can borrow when it’s necessary, or when it’s merely convenient. Many members have learned the benefit of borrowing to avoid withdrawing hard-to-replace insured savings.

Competitive Rates & Flexible Terms

Rates are based upon the purpose of the loan and/or collateral offered. Loan rates can be reduced by 0.25% APR* on most loans from YEFCU by simply agreeing to automatic payments (payroll deduction, direct deposit, or other periodic transfer of funds).

We offer a variety of terms to help you set a comfortable monthly payment. Remember, too, loans may be paid ahead or paid in full at any time, thus reducing the total cost of the loan. There is never a prepayment penalty.

See our current lending rates.

Loan Payment Protection

When borrowing, members can protect themselves and their families with Credit Life Insurance and Credit Disability Insurance. Both are available through CUNA Mutual Insurance Group at very reasonable rates.

Our Credit Union Advantages

  • You can reduce your loan rate by 1/4% on most of our loans by just agreeing to automatic payments.
  • We offer Credit Life Insurance, Credit Disability Insurance, and GAP Insurance to protect yourself and your family when you borrow.
  • We complete loan processes within two business days of receipt of completed application on most loans. See loan rates.
  • You can always pay ahead or repay your loan in full anytime you wish.  This can reduce the total cost of your loan.
  • There is never a prepayment penalty.

Credit Ratings

Everything today is based on your credit. There are two types of credit: short term credit (credit card purchases) and long term credit (vehicle loans, and home mortgages). Your credit rating is a vital part of being able to buy and do all the things you want.

Maintaining Your Credit Rating

Maintaining a good credit rating is simple, but it’s not always easy: pay your bills on time (including loan payments). If you can’t meet a scheduled payment, contact the creditor.  Chances are you can reach an agreement. It’s important to never skip payments or allow a loan to become delinquent in order to keep a good credit rating.

Applying for Your Loan

To be eligible to borrow, a member must have at least $50 in shares. If you’re a new member, there is no waiting period to apply for a loan. Applying online is easy and secure, and most loans are processed within two business days.

*APR=Annual Percentage Rate