Effective March 1, 2008 - Replaces Addendum Dated April 11, 2005
This addendum is incorporated into and becomes a part of your LOANLINER® Credit and Security Agreement. Please keep this attached to your LOANLINER® Credit and Security Agreement.
| Sub account Description |
% Above Index |
Approximate Term |
Daily Periodic Rate
|
ANNUAL PERCENTAGE RATE
|
| +Share Secured: |
|
48 to 60 months |
0.009589% - 0.049315% |
3.50% - 18.00% |
| +New Vehicle: |
|
72 months |
0.009589% - 0.049315% |
3.50% - 18.00% |
| (Including Current & prior year) |
|
60 months |
0.009589% - 0.049315% |
3.50% - 18.00% |
+Used Vehicle:
(Current & 3 years prior) |
| (Current & 3 years prior) |
|
60 months |
0.009589% - 0.049315% |
3.50% - 18.00% |
| (over 5 years old) |
|
48 months |
0.009589% - 0.049315% |
3.50% - 18.00% |
| +New Recreation Vehicle |
|
60 months |
0.009589% - 0.049315% |
3.50% - 18.00% |
| +Used Recreation Vehicle |
|
48 months |
0.009589% - 0.049315% |
3.50% - 18.00% |
+Loans
(Not Fully Share Secured) |
|
60 months |
0.009589% - 0.049315% |
3.50% - 18.00% |
| +New Motorcycle |
|
|
0.009589% - 0.049315% |
3.50% - 18.00% |
| +Line of Credit |
|
|
0.009589% - 0.049315% |
3.50% - 18.00% |
| *Certificate Secured |
2.0% |
|
*See Below |
*See Below |
Overdraft Protection Loan
(Advances are made in increments of $100.00)
|
|
60 months |
0.040959% - 0.049315% |
14.95% - 18.00% |
+Interest Rate: The Following disclosure applies to all sub accounts except Share Secured & Certificate Secured. The Annual Percentage Rate (APR) you receive will be within the range disclosed above and is based on your credit worthiness. Please ask us for the rate that you qualify for.
*Certificate Secured Advance: The Annual Percentage Rate (APR) will be the dividend rate being paid on the certificate offered as security (index) plus the amount disclosed in the "% Above Index" column above. The certificate must be renewed until the advance is completely paid. Failure to renew will result in default under the plan. When the certificate is renewed the APR will change to reflect the new dividend rate. Any increase in the APR will result in more payments of the same amount until what you owe has been repaid. The APR and daily periodic rate will be disclosed on the disbursement receipt at the time of the advance.
Late Charges: If your payment is late 10 or more days, you agree to pay a late charge of 5% of the minimum payment due (for each payment that is late) but not less than $.50 or more than $25.00.
Minimum Payment: Your minimum monthly payment will never be less than $25.00 or the outstanding balance whichever is less.
Collection Costs: If you are in default, you agree to pay all costs of collecting the amount you owe under this agreement including court costs; and if the unpaid balance under this plan is greater that $300.00 at the time of collection you also agree to pay reasonable attorney fees if the matter is referred to an attorney who is not our employee.
Note: No collateral may be the dwelling or residence (either primary or secondary) of the borrower or anyone else. You agree that if any collateral ever becomes your dwelling or residence or if you have any intention to make any collateral your dwelling or residence, then you will notify the Credit Union in writing by certified mail of such facts. You further agree that using any collateral as a dwelling or residence or having the intention of making any collateral dwelling or residence shall constitute a default under your LOANLINER Credit and Security Agreement and the Credit Union will have the remedies provided in the LOANLINER Credit and Security Agreement for default.
| CREDIT INSURANCE COST DISCLOSURES |
| Coverage |
Cost per $100 of Your Monthly Loan Balance |
| Single Credit Life |
6.5¢ |
| Joint Credit Life |
11.3¢ |
| Single Credit Disability |
27.3¢ |
