If you have an IBEW Local 66 Federal Credit Union Certificate of Deposit or Savings, you can use it as collateral for a personal loan to get a lower annual percentage rate (compared to a Signature Unsecured Loan) without even touching your savings. Share Secured loans can be used for any purpose – giving you access to a quick approval process without the need for a Credit Inquiry.
Benefits of a Share Secure Loan
- Fixed rate, fixed term, and fixed monthly payments.
- No prepayment penalties or fees.
- Competitive Annual Percentage Rate (APR) for the life of the loan.
- Same Day Credit decisions and often same-day access to funds.
- Simple Interest Financing: interest is charged by the day on the outstanding principal balance Preserve your Savings. You can continue earning interest on your savings and avoid early withdrawal penalties on time accounts (CDs).
- Lower interest rate: You get a lower annual percentage rate by providing approved collateral (such as an IBEW Local 66 FCU CD) to secure your loan.
- Loan amounts from $500 to $100,000.
- Credit Life & Credit Disability Insurance Offered.
- Share Secured Loan terms can range from twelve (12) months to sixty (60) months.
Rates as Low as 3.05% APR*
- Payment Example: 60 monthly payments of approximately $17.95 per $1,000 borrowed at 3.05% APR.
I.B.E.W. LU 66 Federal Credit Union is an equal opportunity lender and, as such, will not allow discrimination on the basis of race, color, national origin, religion, sex, sexual orientation, gender identity, marital or familial status, age (providing the applicant has reached the age of majority and/or possess the legal capacity to contract), income derived from public assistance, exercise of consumer rights, disability, or any other prohibited basis. No officer or employee of this credit union will, in any manner, discourage a member from making, or submitting, an application for credit. This credit union will accept and consider an application from any member which requests to submit an application for the extension of credit.
IBEW LU 66 FCU uses a risked based pricing credit program and certain restrictions may apply. The rates, as published on this website, are Annual Percentage Rates (APR’s) and are subject to change without notice.
New credit accounts are subject to membership eligibility, loan application (within twelve months), credit qualification, and income verification. Payments must be made from your IBEW Local 66 Federal Credit Union Regular Share Account by Automatic Payment.
* The Annual Percentage Rate (APR) will be based on the specific characteristics of your credit application including, but not limited to, evaluation of credit history, history with the Credit Union and amount and type of credit requested. The interest rate is fixed for the entire life of the loan. Stated “Rates as Low as” apply to specifically well-qualified applicants with all applicable discounts.
Other restrictions may apply.