FRIENDLY

BORROWING

Borrowing money is a reality for just about everyone. Whether you’re in the market for a car, boat, vacation, unexpected expenses, or sending your kids to college, G.A.P. FCU offers a wide variety of lending programs for these and many more purposes.

*Other terms and conditions may apply
**Rates are subject to change without notice

EASY

REPAYMENT OPTIONS

You’ll have greater peace of mind knowing that your loan payment is made on time every month. Along with cash payment options, G.A.P. FCU also offers:

Payroll Deduction
Direct Deposit
Automatic Transfer from your G.A.P. FCU Account

CREDIT

SCORE

Credit Reports are detailed accounts of an individual’s credit history officially prepared by credit bureaus. Lenders such as banks, car dealers, and landlords refer to credit reports to determine a person’s creditworthiness when applying for a loan, mortgage, or credit card. The three major credit bureaus are Equifax, Experian and TransUnion.

Your credit score is a big deal. Lenders use that number to decide what kind of loan you’ll be able to get and what interest rate you’ll have to pay. If your credit score is low, G.A.P. FCU can offer ways to raise it. If your score is good, here are three choices you should avoid if you want to keep it that way.

Cosigning a Loan

If the borrower starts missing payments, your credit score will take a hit. The last thing you want to do is have to pay money to keep your credit score up and get absolutely nothing in return.
Closing a Credit Card

You may have paid off your credit card and decided to stop using it, but don’t close that account. Closing the account will lower your amount of available credit, which could negatively affect your debt utilization ratio. A long credit history is also good for your credit score.
Not Looking for Errors

You should always review your credit score at least once a year. Visit Annual Credit Report to get access to your credit report. They offer a free copy every 12 months from each credit reporting company. This will help ensure all of your information is correct and up to date.

Consumers who have been victims of identity theft can also turn to a credit report site to receive a current credit report and determine whether or not their private information has been compromised. Many credit report sites offer security options to prevent identity theft.

Consumer Affairs – Now Compare the Best Credit Report Sites

New and Used Vehicle Loans

We will finance 100% depending on the year of the vehicle.* Our current “new” car rate applies to the current year and previous year models. Rates and terms vary for all other used vehicles*. Financing for motorcycles, ATV’s and snowmobiles available also at our current vehicle rates!

*Vehicles older than six (6) model years will be financed up to the NADA clean trade-in value for 36 mos at the unsecured rate based on score, title will be held as collateral and full coverage insurance is required.

GAP PLUS PROTECTION

A wrecked vehicle can wreck your finances if you owe more on your loan than your insurance will pay.

The short video below highlights how GAP Plus can help you save in the long run!

Talk to a loan officer to purchase GAP Plus today!

Better Choice Loans

Our Better Choice programs are designed for our members to use as a solution to the growing problem of payday lending practices.

Better Choice

Maximum loan amount: $500
Repayment term: 3 months
18% APR**
5% pledge
$20 application fee.*

Better Choice Plus

Maximum loan amount: $1,000
Repayment term: 6 months
18% APR**
5% pledge
$20 application fee.*

Personal Loans

Whether you need a loan to consolidate debt, catch up on bills, or take that much needed vacation, a personal loan is what you may need.

If qualified*, you could borrow up to $5,000 for your needs.

Secured Loans

A fully secured loan is matching the loan amount dollar for dollar in your share or certificate account to get a rate of 3% higher than the existing rate.

For example, if current share rate is 0.05%, a share secured loan would be 3.05% APR or, if a 12 month certificate is issued with a rate of 0.748%, the certificate secured loan would be 3.748% APR.**

Sewer Project Loan Special

This loan is designed to help homeowners cover the cost of the recent sewer projects in affected areas.

Maximum loan amount $7,000
Maximum term of three (3) years at 5.9% APR**
No pledge required
Payments will be made directly to the contractor
Must provide contract/bill of sale.*

You Own It Loan

A loan to help homeowners cover the cost of property upkeep by eliminating the need for a lien and avoiding the processing time of a mortgage/home equity loan.

Maximum loan amount $25,000
Maximum term of 60 months or five (5) years
- 8.00% APR** fixed
- 8.50% APR** fixed with established direct deposit
Must be a homeowner and provide proof of homeowners insurance.*
A standard 5% pledge is required until paid in full

Education Loans

At G.A.P. Federal Credit Union we offer our own loan to help with the costs of higher education.

9.00% APR**
Borrow up to $10,000
Up to ten (10) year payback - we can make your payments fit your budget
Tuition will be sent directly to the school.
- A tuition statement for the student is required.

Loans

FRIENDLY

BORROWING

EASY

REPAYMENT OPTIONS

CREDIT

SCORE

Consumers who have been victims of identity theft can also turn to a credit report site to receive a current credit report and determine whether or not their private information has been compromised. Many credit report sites offer security options to prevent identity theft.

Consumer Affairs – Now Compare the Best Credit Report Sites

We will finance 100% depending on the year of the vehicle.* Our current “new” car rate applies to the current year and previous year models. Rates and terms vary for all other used vehicles*. Financing for motorcycles, ATV’s and snowmobiles available also at our current vehicle rates!

*Vehicles older than six (6) model years will be financed up to the NADA clean trade-in value for 36 mos at the unsecured rate based on score, title will be held as collateral and full coverage insurance is required.

A wrecked vehicle can wreck your finances if you owe more on your loan than your insurance will pay.

The short video below highlights how GAP Plus can help you save in the long run!

Talk to a loan officer to purchase GAP Plus today!

We value the strong personal relationships we build with our credit union members. It's those relationships, more than a rate or a product that set us apart as a financial institution.

G.A.P. Federal Credit Union

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