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CENTURION
FEDERAL CREDIT UNION Interest Rate Addendum Effective 3/18/10, Replaces 11/20/09 Loan Liner ProgramINSTRUCTIONS: This addendum is incorporated into and becomes part of your LOANLINER Credit Agreement. Please keep this attached to your LOANLINER Credit Agreement. The range of ANNUAL PERCENTAGE
RATE for each loan type is shown below.
Your
specific APR, and the amount and due
date of your
payments, will be determined at the time of each advance and disclosed on your
Advance Request Voucher or Note and Disclosure Statement.
Other charges that may be imposed are also shown on this addendum
(late charges, filing fees, collection & other costs). Loan Type
Maximum Term
** ANNUAL PERCENTAGE RATE **
Share-secured
60 months
6.50% Share-secured
120 months
7.00% Certificate-secured
loans are made at 2.0% over the APY we pay you on the certificate securing the
loan, with a term not to exceed the life of the certificate (60 month maximum),
although such loans may be renewed, at the then-appropriate loan rate, when and
as the underlying certificate is renewed. The following loans types will have fixed rates, and your rate will be determined by your individual qualifications at the time of the loan approval, and by the collateral used to secure the loan. Ask if you are unclear about the individual rate on your loan. Loan Type Maximum Term **ANNUAL PERCENTAGE RATE RANGE ** Signature
(Term proportionate to loan size, 60 month maximum)
9.50% to
17.25% Line of Credit
(36 month pay back)
8.00% to
15.00% NEW* Automobile
2010-2009
60 months
5.25% to
11.45%
2010-2009 (w/$25,000 loan minimum)
72 months
6.15% to 13.45%
USED Automobile2009 – 2006
60 months
6.00% to
11.95%
2009 – 2006
(w/$25,000 loan minimum)
72 months
6.40% to
13.70%
2005 – 2002
60 months
6.25% to
13.85%
2001 - 1998
48 months
6.75% to
14.70%
2001 – 1998
54 months
7.25% to
15.85%
1997 &
older
42 months
7.25% to
16.70%
·
We may consider loans against trucks,
cars and motorcycles 10 or more model years old with an appropriate evaluation
for our loan file. *
New auto’s are considered never titled with less than 2,500 miles. Loan Type Maximum Term **ANNUAL PERCENTAGE RATE RANGE** Motorcycles
& ATVs (NEW/USED) 2010 – 2004
48 months
6.55% to
15.15%
2010 – 2004
(w/$10,000 loan minimum)
60 months
6.75% to
15.70%
2003 – 2000
48 months
6.75% to
15.70%
1999 &
older
48 months
7.00% to
16.70% Boats/RVs/Jetskis
(NEW/USED)
2010 – 2004
48 months
6.75% to
15.95%
2010 – 2004
(w/$10,000 loan minimum)
60 months
7.00% to
16.70%
2003 – 2000
48 months
7.25% to
16.20%
1999 &
older
42 months
7.50% to
17.95% Jumbo
Loans: Boats, RVs (NEW/USED) New to less
than 5 model years old
96 months
8.25% to
17.55% Loan >$50,000 up to 120 months 8.75% to 18.95% Specials Promotion Period 1.00% to 21.00% FILING FEES:
If the credit union takes a security interest in your property, you may
be charged a filing fee at the time of the loan advance. The amount of the
filing fee will be based upon the fee required by state law for the credit union
to obtain a lien on the collateral. The amount of the filing fee, if charged,
will be disclosed to you. LATE CHARGES:
Centurion does not have a “grace
period” for loan payments. If your payment is ten (10) or more days late, you will be
charged a late charge of
$10.00 (on loans originating for less than $50,000); $35.00 (on loans
originating for $50,001 - $100,000); or $50.00 (if your loan originated for
greater than $100,000). COLLECTION
COSTS:
You agree to pay all costs of collecting the amount you owe under this
agreement, including court costs and reasonable attorney fees.
Further rights and responsibilities may be disclosed in the Loan
Agreement or Advance Voucher at the time of disbursement.
Please read all disclosures and keep this Addendum together with your
other papers relating to this and other loans.
This Addendum, and the ranges of our interest rates, may change from time
to time. This Addendum, including
any changes, is permanently posted on our office bulletin boards _______________________________
_______________________________ Borrower
Date
Borrower
Date ______________________________
_______________________________
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