Unsecured Loan Product KnowledgePDF.pdf

Credit Card: The ACCU Mastercard Credit Card is an open-end revolving loan. Members can choose between a Mastercard Rewards or Mastercard non-rewards. Members with the rewards card will earn points for purchases and use the points to redeem Alliance Rewards. Application Fee None Fix...

Credit Card: The ACCU Mastercard Credit Card is an open-end revolving loan. Members can choose between a Mastercard Rewards or Mastercard non-rewards. Members with the rewards card will earn points for purchases and use the points to redeem Alliance Rewards. Application Fee None Fixed or Variable The credit card rate the member receives is a variable rate Rate: that will adjust monthly with prime. Can Members Choose Their Due No, it's based on statement cycle dates. Date: No, in most cases unless the member is applying for a Collateral Required: share secured credit card. Then shares on deposit will be pledged for the credit limit. Minimum Credit $500 Limit: Maximum Credit $30,000 Limit: Balance Transfer Fee: None Reissue Fee for Lost No or Stolen Card:  Application Fee None Reissue Fee for Same Yes, if not lost or stolen Card #: Early Payoff Penalty: No Late Fee: $30 Lost, Stolen, or Member can call 1-844-408-2228 Suspicious Activity: Additional Information Alliance Rewards o Redeem rewards through Digital Banking o Reward points do expire (3 years), members will be notified 6 months before they expire. Overdraft Line of Credit An Overdraft Line of Credit (ODLOC) is a revolving line of credit used to cover the member’s checking account in the event of an overdraft. An advance can be made on the ODLOC regardless of the Checking Account balance. Application Fee: No Fixed or Variable Rate?: Fixed  Application Fee: No Can Members Choose Their Due No, all LOC are set for the 28th of the Date: month Can This Account be an Overdraft Yes Protection Source: Transfer Fee: No Collateral Required: No Minimum Credit Limit: $500 Maximum Credit Limit: $5,000.00 Early Payoff Penalty: No Yes, the greater of $15.00 or 15% of the Late Fee: interest due, after 10 days Signature Loan A signature loan is a closed-end “personal” loan that uses the borrower’s “signature” and promise to pay as collateral – therefore, it is an unsecured loan. A signature loan can be used for almost any purpose (i.e., wedding, vacation, holidays, etc.).  Application Fee: None Available Terms: 12-60 Months Fixed or Variable Rate: Fixed Can Members Choose Yes Their Due Date: Collateral Required: No Minimum Loan $500 Amount: Maximum Loan Amount $30,000 : Early Payoff Penalty: No Yes, if your payment is more than 10 days late, you will Late Fee: be charged the greater of 15.00% of the interest due or $15 Additional Information Funds from this loan can be deposited directly to the members account as long as there are no restrictions from the lending department. Loans that are used for debt consolidation will typically require checks payable to those debtors. Tuition Loan (K-12) The K-12 tuition loan is a closed-end loan that helps members who wish to finance the cost of private school tuition for children attending grades K-12. Any private K-12 school is eligible for this loan. Funds are disbursed by Cashier Check payable to the child's school. Application Fee: None Available Terms: up to 12 Months Fixed or Variable Rate?: Fixed Can Members Choose Yes Their Due Date?: Collateral Required?: No Minimum Loan Amount: $1,000 Maximum Loan Amount $6,000 : Early Payoff Penalty: No Yes, if your payment is more than 10 days late, you will Late Fee: be charged the greater of 15.00% of the interest due or $15 Unsecured, Signature, Personal loan, Celebration Loan, Home Improvement Loans are all the same type of loan. These Loans for extra money for an unexpected expense, a special occasions, or other personal needs. Home Improvement Loan: Looking to hire someone to help you make some home improvements? Or maybe it’s time to refurnish the family room? The sales person you’re working with may try to talk you into financing it with them. Be careful! They will make it sound cheap and easy, but the interest rate you pay may end up costing you more than you think. With a Home Improvement Loan from Alliance Catholic Credit Union, you are able to get competitive rates and work with people you know and trust. Leave the remodeling to the experts in remodeling and the financing to the experts in financing! Celebration Loans Life gives us many things to celebrate; the birth of a baby, graduations, weddings and so many more. Life also brings us times when we need a little help making those celebrations into the memories we’ll cherish for a lifetime. We offer our Celebration Loan for just that reason. The Celebration Loan offers: LOW, competitive rates for up to 60 months Loan amounts up to $30,000 Up to 90 days to make your first payment ** Annual Percentage Rate. All rates subject to change without notice. Existing ACCU loans are ineligible for promotional rates. Rates based on your credit bureau score. Rate is for an Unsecured Loan; minimum loan amount $500, maximum credit limit $30,000. Other terms available at different rates. All loans are subject to approval and membership eligibility. Must be at 18 years of age to apply. Restrictions may apply. Platinum Rewards Get rewarded. Every day, every purchase! *APR on balance transfers (during first 90 days) 7.99% for the life of the balance*  *APR on all purchases, cash advances and balance transfers after 90 days = 15.25 – 24.25%  Alliance Rewards with every purchase: 3 points per $ for spotlighted merchant purchases** 2 points per dollar for gas & groceries 1 point per dollar for everything else No Annual Fee No Overlimit Fee Mobile Wallet Ready ~ Protect your credit with Card Controls Mastercard Platinum Benefits i ACCU Mastercard Consumer Disclosure Platinum Contactless meets savings. *APR on balance transfers (during first 90 days) 7.99% for the life of the balance*  *APR on all purchases, cash advances and balance transfers after 90 days = 13.75 – 22.75% Minimize your payment with a lower rate card No Rewards