Alcose offers several different types of loans with various interest rates.

Personal (Signature) Loans

Any member may apply for a signature loan. Our credit committee meets every Monday and Thursday afternoon. If the loan is approved by the committee, in addition to the $25.00 minimum balance required in the share account, an additional $125.00 must be held in the share account until the loan is paid in full.

Interest Rates for Personal Loans are:

7.99% APR for up to 36 Months
10.0% APR for 48 Months
12.0% APR for 60 Months

Share Secured Loans

Any member may apply to borrow an amount up to the balance in their share account. Because these loans are secured by shares, they do not have to be reviewed by the Credit Committee. Rate on a Share Secured Loan is:

3.99% APR - term is set by member

Share Certificates

Share Certificates are CD’s. The present rates on certificates are:

	Minimum deposit $1,000	1% APY for 12 Months
		1.5% APY for 18 Months
		1.75% APY for 24 Months

Vehicle Loans (Cars, boats, mobile homes & recreational)

These loans are reviewed by the Credit Committee on Monday and Thursday afternoons. If the loan is approved by the committee, in addition to the $25.00 minimum balance required in the share account, an additional $125.00 must be held in the share account until the loan is paid in full. The Credit Union will hold the title of the vehicle and the member’s insurance company must list the credit union as loss payee or lien holder until the loan is paid in full.

The present rates are:

	New Vehicles (2009 to 2010)	3.99% APR for 48 Months
		4.49% APR for 60 Months
		5.99% APR for 72 Months
	Used Vehicles (2007 to 2009)	5.25% APR for 48 Months
		5.75% APR for 60 Months
	Used Vehicles (2006 & Older)	6.0% APR for 36 Months
		6.5% APR for 48 Months
		7% APR for 60 Months

$75 Get-Go Gas Card with each new loan for a vehicle financed by Alcose Credit Union

Some restrictions apply:

Loan must be approved by Credit Committee
Loan must remain with Alcose for term selected or $75 will be charged back to the member.

NADA Official Used Car Guide Company
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Better Choice Loans

The Credit Union’s answer to PayDay Loans. The maximum amount of the loan is $500. There is a $25 application fee. Upon approval, 10% of the requested loan is deposited into the member’s share account. The member may not withdraw any portion of the deposit, or close the account, until the loan is paid off. The interest that the member pays on the amount deposited into the savings account will be rebated to the savings account if the loan is paid on time. This loan must be repaid within 90 days and has an interest rate of 18% APR.

Loan Specials

The credit union also runs loan specials during the year. These loans are reviewed by the Credit Committee on Monday and Thursday afternoon. If the loan is approved by the committee, in addition to the $25.00 minimum balance required in the share account, an additional $125.00 must be held in the share account until the loan is paid in full.

Our current loan special is:

	Back To School Loan Special – $500 - $2000	12 Months @ 3.25% APR
	available until 9/30/2010	18 Months @ 3.99% APR

Bill Consolidation Loans

7.99% APR for up to 36 Months
10.0% APR for 48 Months
12.0% APR for 60 Months

VISA Credit Card

Alcose does offer a VISA card. Any member may apply for the card. These applications are reviewed by the Credit Committee on Monday and Thursday afternoons. Our VISA card features:

Interest rate of 8.9% for purchases and cash advances.
No Annual fee
25 day grace period
Minimum monthly payment of $25.00
Travel and Accident Insurance
Credit Life Insurance coverage available at a low cost to the member

Members Financial Network

VISA Debit Card

Our VISA Debit Card works with the member’s Share Draft Account. When used, the amount is deducted from checking (transaction) account, not savings. The card may be used at merchants for payment of a purchase or at ATM machines for withdrawals.

Verified By Visa

Click here to login to Verified By Visa

IRA

Traditional and Roth IRA's available. Call the Credit Union for more details.

Credit Disability Insurance:

Credit Disability Insurance is available to members who are taking a loan. This coverage will make loan payments up to $600 per month should the member become disabled during the term of the loan. Ask a Credit Union representative for additional details.

Credit Life Insurance:

Credit Life Insurance is available to members who are taking a loan. This coverage will pay off the loan in the event the member dies during the term of the loan.

MEMBERS® Auto and Homeowners Program

Payroll Deduction:

Payroll deduction is available for loans, savings, clubs and share drafts. Ask a Credit Union representative how to sign up for this service.

Direct Deposit:

Direct deposit is available. Ask a Credit Union representative how to sign up for this service.

Special Offers To Credit Union Members

Home Banking:

This service allows the member to monitor their Credit Union Accounts from their own computer at home. This service is free to all members, however, you must register to use it.

BillPay:

BillPay is available for all members having a checking account. This service has a $3.00 per month charge but only if it is used during that month. You must register to use this service.

E-Statements:

E-Statements are available for all members. There is no charge for this service, however, you must register to use it.

Financial Counseling:

In an effort to serve the needs of our members, we are pleased to announce that Joy Benedek, our CEO, has received her certification as a Financial Counselor. This service is free for any member needing assistance. All sessions and information are completely confidential. Please call the credit union to schedule an appointment.

Think about using us for all your financial needs!