Federal Credit Union
Credit Union Members                  

Secured Loans Available at SELH FCU

For members with a credit score of 720 and higher a reduction of 2% Interest Rate from the below scheduled rates for new loans (except secured by share loans) is available.
3 year membership with SELH FCU required on these secured loans except Secured by Shares if credit score is under 720.

ATVs, Motorcycles, Boats & Recreation Vehicles

·         12.0 % APR for new with a loan term of 3 years or less

·         15.0 % APR for new with a loan term of more then 3 years (10 year max)

·         15.0 % APR for used ATV's, Motorcycles, Boats and recreation vehicles (10 year max payback depending on purchase price)

 Appliance Loans

·         15.0 % New Household Appliance Only.

·        Washer, Dryer, Refrigerator, Freezer, Air Conditioner

·        3-5 year max payback depending on purchase price

Farm Equipment

·         15.0 % for new or used with 100% Financing available

·         10 year max payback depending on purchase price

Computer Loans

·         15.0 % for new with 100% Financing available.

·         Maximum loan term 3 years

Secured by Shares

·         Any Member may borrow against their own money.

·         3.5% above current dividend rate or CD rate

·         10 year maximum loan term

Please Note Loan Qualification Standards

Maximum total indebtedness to SELH Federal Credit Union cannot exceed the members annual Salary.

Loan Applications required for all but Secured by Shares. $10 Application Fee.

Secured Loans credit history minimum review standards of a requesting member with less than ten years of membership:

  Ø      No unsettled collection/s of $250.00 or greater

  Ø      No record of Bankruptcy on Credit Bureau Report

  Ø      No unpaid Charge Off Loan/s

  Ø      Satisfactory Review of Credit bureau Report

  Ø      The Loan will allow your debt to income ratio to remain below 50%

  Ø      FICO Credit Score must be 550 or higher

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