Loan Rates

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 current as of September 8, 2020 and are subject to change.

Auto Loans 1
Credit Range 0-60 months 61-96 months
Excellent!
No past credit issues.
2.20% 2.99%
Good.
No recent credit issues.
3.15% 4.05%
OK.
Had some issues in the past.
4.05% 5.15%
Needs some
improvement.
7.99% 8.75%
When you refinance 2 or more car loans with DOLFCU,
you will receive a .25% discount on each car.
Personal Loans 2
Credit Range 0-36 months 37-48 months 49-60 months 61-72 months
Excellent!
No past credit issues.
6.99% 7.99% 8.99% 10.05%
Good.
No recent credit issues.
7.99% 9.45% 10.25% 11.05%
OK.
Had some issues in the past.
11.15% 11.95% 12.75% 13.55%
Needs some
improvement.
15.40% 16.20% 17.00% 17.80%
Revolving Loans
Credit Range Mastercard Credit Card Line of Credit (LOC) 2
Excellent!
No past credit issues.
8.99% 8.25%
Good.
No recent credit issues.
10.99% 10.25%
OK.
Had some issues in the past.
12.99% 12.63%
Needs some
improvement.
17.99% 15.50%
Scroll to the bottom of the page for the
Mastercard Application and Solicitation Disclosure.
Home Equity Line of Credit (HELOC) 3
Credit Range Rate 80% CLTV 90% CLTV
Excellent!
No past credit issues.
Prime + 0% 3.25% 3.75%
Good.
No recent credit issues.
Prime + .5% 3.75% 4.25%
OK.
Had some issues in the past.
Prime + 1.25% 4.50% NA
90% CLTV HELOCs will have a 0.5% added to the existing rate.
Share Secure
Share Rate +2%
Stretch Pay

18%, Annual Enrollment Fee: $35 for a $350 loan. $70 for a $500 loan. $100 for a $750 loan. 4

Holiday Loan (Available only in November & December.)
12 months, 12%. 5

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 Rates shown are for 2012 and later models. Estimated monthly payment for 60-month loan at 2.49% APR is $17.74 per $1000 financed. Estimate is for informational purposes only.  Must maintain auto insurance for life of loan. Financing available up to 100% LTV.

2 The credit union reserves the right to cross-collateralize these types of loans through the loan agreement.

3 Prime Rate as published in the Wall Street Journal the first business day of each month. As of September 1, 2020, the Prime Rate is 3.25%. All variable rate loans have a floor of 2.5% and max of 18%. For home equity lines of credit, if an appraisal is required, the cost will be paid by the member, who is responsible for the fee whether or not the loan closes. Borrower responsible for remainder of closing costs which generally range between $175-$2150, any taxes and insurance. Property insurance required, flood insurance may be required. Program fees, rates and features subject to change without notice.

4 Certain restrictions apply. To qualify, you must be a member of DOLFCU for at least 120 days, have direct deposit of income, have no delinquent DOLFCU 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.

5 An estimated $1200 Holiday Loan at 12% for a 12 month term would equal 26 bi-weekly payments of $49.08. Your APR may be higher and is based on your credit score. Loan term is 12 months with a choice of payment frequency. Loan amount is $1200.

Rates are current as of September 8, 2020, and are subject to change. All loans subject to credit approval and membership eligibility. Other terms and restrictions may apply. Please email MemberServices@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
Over-the-Credit Limit Fee None
Returned Payment Fee Up to $30.00
How We Will Calculate Your Balance:
We use a method called "average daily balance (including new purchases)."
Effective Date:
The information about the costs of the card described in this application is accurate as of April 21, 2020. This information may have changed after that date. To find out what may have changed, contact the Credit Union.

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.

Other Fees & Disclosures:

Late Payment Fee: $20.00 or the amount of the required minimum payment, whichever is less, if you are 30 or more days late in making a payment.

Returned Payment Fee: $25.00 or the amount of the required minimum payment, whichever is less. In the event a payment is returned in the same or in any of the six billing cycles following the initial violation, you will be charged $30.00 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.

Mastercard and the Mastercard Brand Mark are registered trademarks of Mastercard International Incorporated.