Modesto's
First Federal Credit Union
|
Modesto's
First Federal Credit Union |
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As a federally chartered credit union, Modesto's First FCU is a cooperative established to serve the financial needs of our members. Borrowing members can be assured they are receiving some of the lowest possible rates on loans.
We have loans for every need. Below is a partial list of the loan products and loan rates offered at Modesto's First Federal Credit Union:
We calculate the interest you pay on loans based on your unpaid principal balance for the actual number of days you use the funds. There are never any pre-payment penalties or hidden charges.
| Description |
Maximum
Financed |
Loan
Amount |
Term in Months |
Annual
Percentage Rate |
| New
Vehicle |
100%
Purchase Price |
$100,000.00 |
12-84 |
From
5.80% |
| Used
Vehicle |
Up
to 100% of Kelley Blue Book Retail Value |
$100,000.00 |
12-72 |
From
5.80% |
| New
Motor Home(RV, Travel Trailer) |
Up
to 100% of Purchase Price |
$100,000.00 |
12-144 |
From
7.50% |
| Used Motor Home (RV, Travel Trailer | Up
to 80% of Kelley Blue Book Retail Value |
$100,000.00 |
12-144 |
From
7.50% |
| New
Boat or PWC |
100%
Purchase Price |
12-144 |
From
7.50% |
|
| Used
Boat or PWC |
Up
to 100% of Appraised Value |
12-144 |
From
7.50% |
|
| New
Motorcycle or ATV |
Up
to 100% of Kelley Blue Book Retail Value |
12-84 |
From
7.50% |
|
| Used
Motorcycle or ATV |
Up
to 100% of Appraised Value |
|
12-84 |
From
7.50% |
| Shared
Secured |
100%
of Regular Shares Balance |
$500
or more |
60 |
Current
Share Rate plus 4.00% |
| Certificate
Secured |
100%
of CD |
$1000
or more |
Certificate
Maturity |
CD
Rate plus 3% |
Line
of Credit |
$5,000 |
$5,000 |
12-48 |
From
10.99% |
| Signature
Loans |
$5,000 |
$5,000 |
12-60 |
From
10.99% |
| 2nd
Mortgage Loan |
Up
to 90% of Appraised Value Minus First Mortgage |
$310,000.00 |
60-180 |
From
6.25% |
The Members Interest Rate will be determined by individual credit history and the Credit Union's underwriting standards. Members must be in good standing and have paid $25 membership fee.
Minimum Payment: The amount and due date of your payment will be established at the time of each advance. The minimum monthly payment for all loans is $25 a month unless otherwise stated.
Filing Fee: You may be charged a lien filing fee at the time of advance if the Credit Union takes security interest in your collateral. The amount of the filing fee will be based upon the amount of fee required by state law for the Credit Union to obtain a lien on your property. The amount of the filing fee will be disclosed at the time of the advance.
Real Estate Closing Costs: M1FCU's 2nd Mortgage and Home Equity Line of Credit Loans have closing costs which vary from $0 - $557.00 depending on the amount borrowed and the other rates and terms.
Charge: You promise to pay a late charge of 20% of interest due on your loan on every payment that is over 10 days past due.
Collection Cost: You promise to pay all costs of collecting the amount you owe under this agreement including court costs and reasonable attorney fees.
Refinance Fee: A fee of $49 will be assessed on refinanced equity loans.
Credit Insurance Cost Disclosures:
| Coverage |
Per
$100 Borrowed |
| Single
Life |
$0.068 |
| Joint
Life |
$0.116 |
| Single
Disability |
$0.286 |
This information is accurate as of January 1, 2008. The terms may have changed after this date. Please contact us for current information at the following telephone number: (209) 521-2020.
Credit Disability Payment Protection - Credit Disability Payment Protection makes your covered loan payments in the event of disability. Also, it offers financial relief and peace of mind by protecting your credit rating. Low premium, usually only a few cents per $100 of your loan, makes this benefit affordable to Modesto's First Federal Credit Union members.
Credit Life Payment Protection - This pays off a covered loan balance up to the policy maximum in the event of death. It brings peace of mind and security to the member's family knowing that they are protected from the loan debt. The premium is also usually only a few cents on every $100 of the loan, makes this benefit affordable to our members.
Mechanical Breakdown Insurance - This provides the member with flexibility and security in knowing that their automobile is protected. The member may feel secure in knowing that when they do incur a problem, the solution is just a phone call away. The member may choose a plan that best fits his/her needs. Filing claims is hassle free.
GAP
Insurance
- Guaranteed Auto Protection offers protection against financial
liability for individuals who finance a new or used vehicle. GAP
coverage protects against financial loss in the event that your
vehicle is damaged beyond repair (totaled) or stolen and never recovered.
With GAP coverage, the loans uninsured balance is then waived
Auto Buying Service
Looking for a new automobile? Let Modesto's First Federal Credit Union put you in the drivers seat the fast, easy way through CU Auto Sales. When you work with CU Auto Sales, you will save time and money and the hassle of negotiating with the dealer. Modesto's First FCU offers its members assistance in the purchase of a new or used vehicle through CU Auto Sales automotive representative. CU Auto Sales professionals will save you time and money while providing fast reliable service.
Financing Your Vehicle
Before contacting CU Auto Sales call Modesto's First FCU for a low interest loan. With an understanding of your purchase power, you can customize your selection to fit your budget. As a credit union member, you can enjoy up to 100% financing including tax, license and title, as well as terms up to 84 months. For complete details call (209) 521-2020.
| 430 12th Street | Modesto CA 95354 | 209-521-2020 or 888-945-2020 | Fax 209-521-4570 |
24/7
Telephone Teller (209) 521-6663 |
| Contact us at info@m1fcu.org |
 |
 |
Copyright
© 2007, Modesto's First Federal Credit Union |
Modesto's First Federal Credit Union
is not responsible or liable for the availability or information contained
within links to 3rd party web sites. All fees, charges, segments of
the Truth in Savings Disclosure given at account opening apply to transactions
performed over the internet. |
Updated
January 1, 2008 |