Loans

If you are interested in a loan, please contact Wendy at (570) 825-9950.  Loans are disbursed by pre-scheduled appointment in our Wilkes-Barre office, and in many cases you can leave with the check!  Please note that rates are subject to change without prior notice.

Skip-A-Pay Form (Mail to: P.O. Box 1194, Wilkes-Barre, PA 18703)
Home Equity Loan Applications: Cover Sheet, Application (legal size paper)
Other Loans: Printable loan application (Return along with proof of income.)

Last updated: 4/2/2020

CURRENT SPECIALS:

COVID-19 Relief loan:

12 months4.99%
24 months5.99%
Max loan $3,000.
Option for quarterly payments (no payments due for 90 days).

CREDIT CARD CRUSHER:

12 months5.9%
24 months6.5%
36 months7.5%
48 months8.9%
60 months9.9%
Checks will be made out directly to the credit card(s).
Minimum credit score of 600 and acceptable debt ratio to qualify.

REGULAR LOAN RATES:

Signature Loans:

(limits based on income)

12 months & under6.9%
13-24 months7.9%
25-36 months8.5%
37-48 months9.25%
49-60 months10.25%

All loans under $2,000 have a rate of 8.5%

Share Secured Loans:

100% Share Secured:

24 Months & Under2.25%
25-36 Months2.75%
37-48 Months3.25%
49-60 Months3.5%
61-72 Months3.75%
73-78 Months3.99%
79-84 Months4.25% (loans $35,000 and up)

50% Share Secured:

24 Months & Under4.75%
25-36 Months5.5%
37-48 Months5.99%
49-60 Months6.99%

All loans under $2,000 have a rate of 7.9%.

Vehicle Loans:

2020, 2019 (with mileage under 20,000)

Maximum loan of 95% NADA retail value for used cars.
Maximum loan of 95% selling price before manufacturer rebates for new cars.

24 Months & Under2.5%
25-36 Months2.75%
37-48 Months3.25%
49-60 Months3.5%
61-72 Months3.9%
73-78 Months4.25%
79-84 Months (loans $35,000+)4.50%

2019 (mileage above 20,000), 2018, 2017
Maximum loan of 95% NADA retail value.

24 Months & Under2.99%
25-36 Months3.25%
37-48 Months3.5%
49-60 Months3.75%
61-72 Months3.99%

2016, 2015, 2014
Maximum loan of 90% NADA retail value.

24 Months & Under3.75%
25-36 Months4.25%
37-48 Months4.5%
49-60 Months (2016 only)4.75%

2013, 2012, 2011
Vehicle must have book value of at least $7,000 to qualify.
Maximum loan of 85% NADA retail value.

24 Months & Under4.99%
25-36 Months5.5%
37-48 Months  (2013 only)5.99%

2010, 2009
Vehicle must have book value of at least $6,000 and 30 day warranty or guarantee to qualify.
Mileage must not exceed average listed in NADA guide.
Maximum loan of 85% NADA retail value.

24 Months & Under5.99%
25-36 Months6.5%

Home Equity Loans:

Minimum loan $15,000

3 Years & Under (Fixed)2.99%
4 Years Fixed3.25%
5 Years Fixed OR 6 Years with 3 Year Balloon3.5%
9 Years with 3 Year Balloon3.75%
10 Years with 5 Year Balloon3.9%
12 Years with 3 Year Balloon3.99%
15 Years with 5 Year Balloon4.25%

Home Equity Loan Application Fees:

 $15,000-24,999:          $250 with appraisal / $75 without appraisal

$25,000-39,999:          $200 with appraisal / $75 without appraisal

$40,000-59,999:          $150 with appraisal / $50 without appraisal

$60,000 and up:          Free for terms of 6 years or more / Free without appraisal
$100 with appraisal for terms of 5 years or less

 No fees will apply for balloon rewrites where no new money is being loaned.
If new money is taken at the time of balloon refinance, an application fee will be charged if a new appraisal is required.  A new appraisal is required if the one on file is over 5 years old.

There are no closing costs.

Existing Balloon Loans:  

For our members with existing balloon loans currently in process, lower rates will apply if you are refinancing without taking additional funds.

equal housing lender

APR = Annual Percentage Rate

POLICIES AND FINE PRINT:

Applicants must leave at least 5% of the loan balance on deposit in regular shares up to a maximum of $100.00.

Signature Loans:
Signature loan limits are subject to your income level.  A co-maker may be required.

Vehicle Loans:
We can finance:
95% of the selling price excluding fees & taxes for new cars **
95% of the N.A.D.A. retail value for 2018, 2017, or 2016 model years
90% of the N.A.D.A. retail value for 2015, 2014, or 2013 model years
85% of the N.A.D.A. retail value for 2012, 2011, 2010, 2009, or 2008 model years
**  Manufacturer rebates count toward the 5% down.  Dealer discounts do not.

Home Equity Loans:
The Credit Union must be the first OR second mortgagee for all home equity loans.  You may wish to pay off an existing mortgage or mortgages to consolidate payment or lower your interest rate.