Loan approval and processing is based on standard loan underwriting guidelines. Not all applicants will qualify for the lowest rate. Program fees, rates and features are subject to change. Rates are effective as of March 1, 2023 and are subject to change.
| Auto Loans 1 | |||
| Credit Range | 0-65 months | 66-88 months | 89-96 months |
| Excellent! No past credit issues. |
5.50% | 5.99% | 6.49% |
| Good. No recent credit issues. |
5.99% | 6.49% | 6.74% |
| OK. Had some issues in the past. |
7.05% | 7.65% | 8.49% |
| Needs some improvement. |
8.35% | 9.50% | 11.75% |
| Multiple credit issues... but we’ll try to work with you. |
11.50% | 11.75% | N/A |
| When you refinance 2 or more car loans with Labor CU, you will receive a .25% discount on each car, subject to our floor rate. |
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| Personal Loans 2 | ||||
| Credit Range | 0-36 months | 37-48 months | 49-60 months | 61-72 months |
| Excellent! No past credit issues. |
7.49% | 8.29% | 9.09% | 11.29% |
| Good. No recent credit issues. |
8.24% | 8.94% | 11.04% | 12.29% |
| OK. Had some issues in the past. |
10.64% | 12.64% | 13.64% | 14.64% |
| Needs some improvement. |
13.64% | 15.64% | 16.64% | 17.64% |
| Multiple credit issues... but we'll try to work with you. |
16.64% | 17.64% | NA | NA |
| Revolving Loans | ||
| Credit Range | Mastercard Credit Card | |
| Excellent! No past credit issues. |
8.99% | |
| Good. No recent credit issues. |
10.99% | |
| OK. Had some issues in the past. |
12.99% | |
| Needs some improvement. |
17.99% | |
Scroll to the bottom of the page for the
Mastercard Application and Solicitation Disclosure.
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Interest Only HELOC3 |
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| Credit Tier | < 80% CLTV | 80.01 - 90% CLTV | 90.01 – 95% CLTV |
| Excellent! No past credit issues. |
Prime - .25% | Prime + .25% | Prime + .75% |
| Good. No recent credit issues. |
Prime + 0% | Prime + 1.00% | Prime + 2.00% |
| OK. Had some issues in the past. |
Prime + 1.25% | Prime + 2.00% | |
| Needs some improvement. | Prime + 2.50% | ||
|
5 Year Adjustable HELOC3 |
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| Credit Tier | <80% CLTV | 80.01 - 90% LTV | 90.01 – 95% CLTV |
| Excellent! No past credit issues. |
Prime + .5% | Prime + 1% | Prime + 1.5% |
| Good. No recent credit issues. |
Prime + 1% | Prime + 2% | Prime + 3% |
| OK. Had some issues in the past. |
Prime + 1.50% | Prime + 2.50% | Prime + 3.50% |
| Needs some improvement. | Prime + 2.00% | ||
| Share Secure |
| Share Rate +2% |
| Stretch Pay |
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18%, Annual Enrollment Fee: $35 for a $350 loan. $70 for a $500 loan. $120 for a $750 loan. 4 |
| First Mortgage |
| Click for daily mortgage rates or call (800) 231-8855. |
Annual Percentage Rate (APR) shown are for members with excellent credit and may reflect rate discounts for additional credit union services. Your APR may be higher and is determined by our normal underwriting guidelines.
1 For borrowers with excellent credit a 60-month vehicle loan of $20,000 at 5.50% APR would have 60 monthly payments of $382. Your rate and payment may vary. Approvals based on credit and vehicle condition. Any discounts given by the credit union will not bring the rate below our floor rate of 3.69%. Refi’s mirror term and cosigners of current loan. Eligible model years 2015-2023, maximum LTV restrictions may apply based on MSRP of new vehicles and the NADA retail value of used vehicles. Collateral insurance required for life of loan.
2 The credit union reserves the right to cross-collateralize these types of loans through the loan agreement.
3Prime Rate as published in the Wall Street Journal the first business day of each month. April 1, 2023, the Prime Rate is 8.00%. Not all applicants will qualify for this rate. Annual Percentage Rates are based on applicant’s credit and our underwriting standards, which may include discounts for additional credit union services. APRs subject to change based on Prime with a minimum rate of 3.00% and maximum of 18%. The cost of an appraisal normally ranges from $170-$500 is paid by the member whether or not the loan closes, if an appraisal is required. Borrower is responsible for remainder of closing costs which generally range between $175-$2250, any taxes and insurance. Property insurance required; flood insurance may be required. Program fees, rates and features subject to change without notice. Payment examples: 5-year Adjustable HELOC balance $50,000 payment $500 monthly. Interest only HELOC for $50,000 at 8.00% the payment during the draw period is $339.79. All loans are subject to credit approval and membership eligibility. Minimum loan amount is $20,000. A home equity line of credit is by secured by a 1st or 2nd lien on your residential property located in Maryland, DC and Virginia only. Consult a tax advisor regarding the deductibility of interest. Other terms and restrictions may apply. Please email Loans@DOLFCU.org or call (202) 789-2901, option 3 for additional details. Labor CU is an Equal Opportunity Lender.
4 Certain restrictions apply. To qualify, you must be a member of Labor CU for at least 120 days, have direct deposit of income, have no delinquent Labor CU accounts, and not be in the process of filing for bankruptcy. Finance charges on a 30-day $500 StretchPay loan are $7.40. Loan fee for commercial payday lender charging $15 per $100 borrowed is $150 for $500 borrowed over two 14-day terms. Advances must be paid in full prior to additional advances.
Rates are effective as of March 1, 2023 and are subject to change. All loans subject to credit approval and membership eligibility. Other terms and restrictions may apply. Please email Loans@DOLFCU.org or call (202) 789-2901 for additional details.
Mastercard Application and Solicitation Disclosure
| INTEREST RATES AND INTEREST CHARGES | ||
| Annual Percentage Rate (APR) for Purchases | 8.99%-17.99% when you open your account, based on your creditworthiness. | |
| APR for Balance Transfers | 8.99%-17.99% when you open your account, based on your creditworthiness. | |
| APR for Cash Advances | 8.99%-17.99% when you open your account, based on your creditworthiness. | |
| How to Avoid Paying Interest on Purchases |
Your due date is at least 25 days after the close of each billing cycle. We will not charge you any interest on purchases if you pay your entire balance by the due date each month. | |
| For Credit Card Tips from the Consumer Financial Protection Bureau | To learn more about factors to consider when applying for or using a credit card, visit the website of the Consumer Financial Protection Bureau at http://www.consumerfinance.gov/learnmore. | |
| FEES | ||
| Set Up and Maintenance Fee | Account Set-up Fee | None |
| Program Fee | None | |
| Participation Fee | None | |
| Additional Card Fee | None | |
| Application Fee | None | |
| Transaction Fees | Balance Transfer Fee | None |
| Cash Advance Fee | None | |
| Foreign Transaction Fee | 1% of each transaction in U.S. dollars | |
| Transaction Fee for Purchase | None | |
| Penalty Fee | Late Payment Fee | Up to $20.00 |
| Returned Payment Fee | Up to $28.00 | |
| How We Will Calculate Your Balance: We use a method called "average daily balance (including new purchases)." |
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| Effective Date: The information about the costs of the card described in this application is accurate as of January 1, 2022. This information may have changed after that date. To find out what may have changed, contact the Credit Union. |
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For California Borrowers, the Standard Mastercard is a secured credit card. Credit extended under this credit card account is secured by various personal property and money including, but not limited to: (a) any goods you purchase with this account, (b) any shares you specifically pledge as collateral for this account on a separate Pledge of Shares, (c) all shares you have in any individual or joint account with the Credit Union excluding shares in an Individual Retirement Account or in any other account that would lose special tax treatment under state or federal law, and (d) collateral securing other loans you have with the Credit Union excluding dwellings. Notwithstanding the foregoing, you acknowledge and agree that during any periods when you are a covered borrower under the Military Lending Act your credit card will be secured by any specific Pledge of Shares you grant us but will not be secured by all shares you have in any individual or joint account with the Credit Union. For clarity, you will not be deemed a covered borrower if: (i) you establish your credit card account when you are not a covered borrower; or (ii) you cease to be a covered borrower. |
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Other Fees & Disclosures: Late Payment Fee: $20.00 or the amount of the required minimum payment, whichever is less, if you are one or more days late in making a payment. Returned Payment Fee: $28.00 or the amount of the required minimum payment, whichever is less. Card Replacement Fee: $5.00. Document Copy Fee: $4.00. Emergency Card Replacement Fee: $55.00. PIN Replacement Fee: $5.00. Rush Fee: $55.00. Statement Copy Fee: $3.00. |
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Mastercard and the Mastercard Brand Mark are registered trademarks of Mastercard International Incorporated.