See your credit union first when you need cash. We make borrowing easy.

Types of Loans Offered

SECURED VEHICLE  - Title held as collateral, loan shall not exceed $70,000, financed amount up to 90% of MSRP (new) / NADA (used) without GAP insurance.  With GAP insurance, the Credit Union may finance more that 100% of the vehicle’s value.

  • NEW VEHICLE - may be financed up to 7 years depending on value

  • USED VEHICLE - may be financed up to 6 years depending on age and value*

    *To qualify for our used vehicle rates, a vehicle must not be over 8 years old. Older vehicles may be financed for a maximum of 3 years.

UNSECURED (Personal) -  no collateral to hold, may be used for debt consolidation, unexpected repairs, etc., may be financed up to 5 years

  • SIGNATURE - member may borrow up to $4000 on only their signature

  • CO-MAKER - member may borrow up to $7000 and requires a co-signer

SECURED SHARES - borrow against your own funds at a lower rate while still earning interest on your funds, payback terms selected by the member (may not exceed 15 years)    

CREDIT BUILDER LOAN - Need to start establishing credit or help getting it reestablished?  Let us help you with that building/rebuilding process!  Building a positive credit history safely takes time and a financial partner who believes in you.  Our Credit Builder Loan helps members do just that, without applying for high interest rate credit cards or going to a payday lender or finance company.  This loan is ideal for members with no credit, or members who are recovering from previous credit problems, bankruptcy, or other difficult life circumstances.  Satisfactory repayment will result in favorable consideration for future ACFCU loans.

  • A safe way to build credit or help repair damaged credit

  • $500 loan with low monthly payments of $50 at a rate of 12.5%

  • Financial education on credit provided with each loan

  • A report of your favorable payment history sent to the Credit Bureau

LOAN QUALIFICATIONS

  • Membership at ACFCU

  • Currently employed with the same employer for at least six (6) months

  • Payments must be made through payroll deduction

  • Debt-to-income ratio must meet ACFCU requirements

  • No negative balances or negative history with ACFCU

The following insurance products are offered with our loans:

GAP INSURANCE

There could be a big difference between what your insurance will pay and what you owe on your loan if your auto is totaled.  GAP is a low-cost coverage that pays the potentially high-cost difference between your insurance settlement and your loan balance on items directly related to the purchase of your vehicle, plus gives you $1000 towards the purchase of a replacement vehicle if financed with the Credit Union.

DEBT PROTECTION INSURANCE

  • Your safeguard against the unexpected.

     Your three options are:

        LifePlus OR LifePlus & Disability OR LifePlus, Disability & Involuntary Unemployment

    LifePlus:

    Type of Cancellation

  • Loan balance cancellation for life, terminal illness, and accidental dismemberment

  • Payment cancellation for hospitalization, family medical leave, and loss of life of a non-protected dependent

    Maximum Benefits (amount will reduce at age 70)

  • Up to $75,000 for life, terminal illness and accidental dismemberment

  • The earliest of 3 months or $3,000 for hospitalization, family medical leave, and loss of life of a non-protected dependent

    Specified Period Limitation

  • 6-month pre-existing condition limit

    Disability:

    Type of cancelation

  • Payment cancellation

    Maximum Benefits

  • The earliest of 12 months or $12,000 per occurrence

    Waiting Period

  • 14-day, retro for a protected event

    Specified Period Limitation

  • 6-month pre-existing condition limit

    Involuntary Unemployment:

    Type of Cancellation

  • Payment cancellation

    Maximum Benefits

  • The earliest of 6 months or $6,000 per occurrence

    Waiting Period

  • 14-day retro for a protected event

    Specified Period Limitation

  • 3-month benefit exclusion from date of loan or advance