Rates and Loans

Share Dividend Rates

Required Minimum Daily BalanceRateAPY
$0.01 – $25,000.000.20%0.20%
$25,000.01 – $99,999.990.30%0.30%

New Auto Rates

TermAPR
1 year4.00%
2 years4.50%
3 years4.50%
4 years5.00%
5 years5.00%

Maximum loan amount: $40,000. Maximum finance amount: 95%.

Used Car Rates

TermAPR
1 year7.50%
2 years7.75%
3 years8.00%
4 years8.00%

Vehicle CANNOT be older than seven (7) years old. Maximum loan amount: $40,000. Maximum finance amount: 95%.

1. Purchase and sales agreement showing Lynn Teachers Credit Union will be lien holder . If private sale, copy of title of seller and copy of RMV l form showing Lynn Teachers Credit Union to be listed as lein holder.

2. Insurance binder showing Lynn Teachers Credit Union will belisted as loss payee on insurance policy.

  • Payment example: Auto loan @6.50% for 4 years would cost $5.47 per $1,000 borrowed .
  • Payment example: Auto loan @8.00% APR for 4 years would cost $5.62 per $1,000 borrowed.

Personal Loans

Maximum amount:$15,O00.OO*
Maximum Term: Up to (4) Years
Interest Rate: 12.5% APR
Share Secured Loan: 2% Lower
Co-signer s may be required if:

1. Employment of less than five (5) years.
2. Debt ratio is 36% to 40%
3. Questionable credit report.
4. Applicant has filed bankruptcy.

  • Payment example: Personal loan @10.50% APR for 4 years would cost $5.89 per $1,000 borrowed.

Home Improvement Loans

Maximum amount: $40,000.00
Maximum Term: 15 years
Interest Rate: 10% APR
Documents Required:

1. Description and cost estimate of work to be done.
2. Copy of real estate tax bill and/or copy of the deed to property.

  • Payment example: Home improvement loan @10.00% APR for 1 year would cost $20.22 per $1,000 borrowed.