about share rates | share rates | about loan rates | loan rates
About Share Rates
Lion Federal Credit
Union has entered into voluntary payroll deduction agreements with its
sponsoring employers. These deductions can be used to make loan
payments or fund savings accounts for our members. In addition to
regular savings accounts, members have access to Christmas Club
accounts, Traditional IRAs, and have the option to open separate
accounts for personal savings goals.
Posted IRA and Share
Account rates are rates paid for the previous calendar quarter. Rates for the current
calendar quarter are subject to change and will be declared by the
Board of Directors at the end of the current calendar quarter. Share
Account fees may reduce earnings.
Certificate rates are
fixed for their term. New certificate rates are subject to change at
any time. Certificates are subject to early withdrawal penalties
Member's funds are
insured up to $100,000 by the National Credit Union Administration (NCUA),
an independent agency of the U.S. Government. IRAs are insured up to
$250,000.
Share Rates
Updated June 1, 2009
| Share Type |
Annual Percentage Rate
|
Annual Percentage Yield
|
|
Share Savings (Includes
Christmas Club) (previous quarter rate)
|
1.50%
|
1.51%
|
|
6 Month Certificate
($2,000.00 Minimum)
|
1.50%
|
1.51%
|
|
12 Month Certificate
($2,000.00 Minimum)
|
1.60%
|
1.61%
|
|
24 Month Certificate
($2,000.00 Minimum)
|
2.00%
|
2.01%
|
|
36 Month Certificate
($2,000.00 Minimum)
|
2.25%
|
2.27%
|
|
|
|
|
|
|
|
|
|
|
|
|
About Loan Rates
Credit unions are very different from other forms of financial
institutions. They are owned by their members. Credit unions are
non-profit cooperatives that exist not to generate large profits, but
to provide a way for members to save and to borrow at affordable
rates. The money for loans comes from members. When one member saves,
it provides the funds for another member to borrow.
The rates listed in the chart below are for some of our most
popular loan types. In addition to those listed, the credit union can
make the following type loans:
- New or used personal watercraft
- New or used boats, motors, and trailers
- New or used travel trailers or motor homes
- New or used campers
- Farm equipment or horse trailers
- New or used mobile homes (single-wide only)
- Share certificate loans.
Lion Federal Credit Union does not make business
loans at this time.
Loans are made without regard to race, color, religion, sex, or
national origin. All loan applications, except those secured by share
accounts or share certificates, are subject to a loan application fee.
Where possible, loans can be setup to have payments transferred
through payroll deduction.
These loan rates are with approved credit and were last adjusted
6/4/2007. Rates are subject to change and individual loan rates
would fall in the category below based on strength of credit history.
Maximum rate approved by federal law for credit unions is 18%. Please
check with credit union staff for rates on loan types not listed.
Loan Rates
Loan Type |
"A" |
"B" |
"C" |
"D" |
"E" |
"F" |
| Unsecured-Signature
Only |
9.25% |
10.25% |
12.75% |
15.75% |
17.75% |
18.00% |
| Loans Secured by
Non-titled Property (Furn. Appliances, Electronics) |
8.25% |
9.25% |
12.75% |
14.75% |
16.75% |
18.00% |
| Loans Secured by
ATV's |
6.25% |
7.25% |
10.75% |
12.75% |
14.75% |
17.75% |
| Share Secured |
4.00% |
4.00% |
4.00% |
4.00% |
4.00% |
4.00% |
| New Vehicles |
6.00% |
7.00% |
10.50% |
12.50% |
14.50% |
17.50% |
| Used Vehicles |
6.50% |
7.50% |
11.00% |
13.00% |
15.00% |
18.00% |
| New Boats, Motors,
Boat Trailers, & Personal Watercraft |
6.25% |
7.25% |
10.75% |
12.75% |
14.75% |
17.75% |
| Used Boats, Motors,
Boat Trailers, & Personal Watercraft |
6.75% |
7.75% |
11.25% |
13.25% |
15.25% |
18.00% |
| New Travel Trailers,
Campers, & Motor Homes |
6.50% |
7.50% |
11.00% |
13.00% |
15.00% |
18.00% |
| Used Travel
Trailers, Campers, & Motor Homes |
7.75% |
8.75% |
12.25% |
14.25% |
16.25% |
18.00% |
| Motorcycles |
6.75% |
7.75% |
11.25% |
13.75% |
15.25% |
17.75% |
| Farm Equipment &
Horse Trailers |
7.25% |
8.25% |
12.25% |
14.25% |
16.25% |
18.00% |
| New Mobile Homes (Single
Wide Only)-----
Up to 60 months |
9.25% |
10.25% |
12.25% |
14.25% |
16.00% |
18.00% |
| 61 to 84 months |
10.00% |
11.00% |
13.00% |
15.00% |
17.00% |
18.00% |
| Used Mobile Homes (Single
Wide Only) |
10.00% |
11.00% |
13.00% |
15.00% |
17.00% |
18.00% |
Lion Federal Credit Union Does Not Currently Offer Business Loans
Effective 6/04/2007
