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NorthRidge Community Credit Union
Merit-Based Lending Program Pricing Matrix
Rates subject to change
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NorthRidge Community Credit Union's Merit Based Lending Program provides members with the best rates within our financial institution market area. Under the Merit-Based Lending Program, members receive a loan rate based on their personal credit history - the better their credit, the better their rate.
Members with an excellent credit rating will receive some of the lowest loan rates available in our market area today. Members with past credit issues will receive a rate that's competitive and, in many cases, lower than they might pay elsewhere.
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Secured and Personal Loans
Rates effective 5/1/08
Up to 100% financing available for qualified borrowers
*APR= Annual Percentage Rate.
| Credit Score |
Rates Structure |
UNSECURED |
SECURED |
| Consumer Open-End Loans |
|
36 months |
24 Mo
2002<Yr
|
36 Mo
2002<Yr
|
48 Mo
2003-2008
|
60 Mo
2007-2008
|
72 Mo
2008
|
| 730+ |
Platinum
*APR |
-0.50% |
9.50% |
6.250% |
6.250% |
6.500% |
6.750% |
7.500% |
| 680-729 |
A
*APR |
Base Rate |
10.00% |
6.500% |
6.500% |
6.750% |
7.000% |
7.75% |
| 640-679 |
B
*APR |
+1.00% |
11.00% |
7.500% |
7.500% |
7.750% |
8.000% |
8.75% |
| 600-639 |
C
*APR |
+2.50% |
12.50% |
9.000% |
9.000% |
9.250% |
9.500% |
|
| 550-599 |
D
*APR |
15.00%
All |
Credit Builder Program |
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| 500-549 |
E
*APR |
16.00%
All |
Credit Builder Program |
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*Rates subject to change without notice.
*APR= Annual Percentage Rate. For example, a loan of $5,000.00 would be payable in 60 monthly installments of $96.00 at the annual percentage rate of 5.50%. Payment does not include optional credit life and disability insurance. Actual APR may vary depending on fees, mortgage closing costs if applicable, and insurance. Rates offered are subject to change without notice.
First Mortgage, Purchase Money Mortgage, Home Equity, Home Improvement
NorthRidge Community Credit Union's Merit-Based Lending Program provides members with some of the most favorable loan rates within our financial institution market area. With Merit-Based Lending members are rewarded with a loan rate based on their personal credit history - the better their credit, the better their rate. Members with an excellent credit rating will recieve some of the lowest rates in our market area today. Members with past credit issues will recieve a rate that's competitive, and in many cases, lower than they might pay elsewhere. Length of loan set by Loan Officer. In some cases a down payment may be required.
Click here for Mortgage Rates
Savings | Certificates
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*NorthRidge Community Credit Union uses the daily balance method to calculate interest/dividends on these accounts. This method applies a daily periodic rate to the principal in the account each day. The annual percentage yield (APY) assumes earnings will remain on deposit until maturity. Payment of all interest/dividends is subject to availability of earnings. A withdrawal will reduce earnings. Early withdrawal penalties may apply to certificate and IRA accounts.
* Rates and Annual Percentage Yields offered are subject to change without notice. Fees may reduce the earnings on your savings account. The variable rate savings account rate may change after the account is opened.
*Members must maintain a minimum average daily balance of $25 to obtain this rate.
*Rates and terms are subject to change without notice. Some restrictions may apply.
* Fees associated with an account could reduce earnings.
Effective 5/7/08
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*Paid interest on IRA's is added to principal. These accounts are governed by the IRS Rules & Regulations.
*APY=Annual Percentage Yield - The APY is accurate as of the last dividend declaration date.
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*Tiered pricing of each separate certificate type, term and amount, is based on our credit unions philosophy of promoting thrift and rewarding members good savings habits the more a member saves in a particular certificate, the more they can earn.
*Rates and terms are subject to change without notice. Some restrictions may apply. |
| Certificates |
Dividend Rate |
APY* |
Term |
| 42 Month Step-Up Certificate-$2,500 Minimum Opening Balance ** |
2.87 |
2.90 |
42 |
| 42 Month IRA Step-UpCertificate-$2,500 Minimum Opening Balance** |
2.87 |
2.90 |
42 |
|
9 Month Fixed Rate-$500 Minimum Opening Balance
|
2.52 |
2.55 |
12 |
|
9 Month Fixed Rate-$2,500 Minimum Opening Balance
|
2.62 |
2.65 |
12 |
|
9 Month Fixed Rate-$7,500 Minimum Opening Balance
|
2.72
|
2.75
|
12 |
| 12 Month Fixed Rate-$1,000 Minimum Opening Balance |
2.58 |
2.60 |
12 |
| 12 Month Fixed Rate-$2,500 Minimum Opening Balance |
2.67 |
2.70 |
12 |
| 12 Month Fixed Rate -$7,500 Minimum Opening Balance |
2.77 |
2.80 |
24 |
| 24 Month Fixed Rate -$2,500 Minimum Opening Balance |
2.77 |
2.80 |
24 |
| 24 Month Fixed Rate -$7,500 Minimum Opening Balance |
2.87 |
2.90 |
24 |
| 36 Month Fixed Rate-$2,500 Minimum Opening Balance |
2.87 |
2.90 |
36 |
| 36 Month Fixed Rate-$7,500 Minimum Opening Balance |
2.97 |
3.00 |
36 |
| 12 Month IRA Certificate-Special Rate-$1000 Minimum Balance |
2.97 |
3.00 |
12 |
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*Interest on regular certificates can be paid monthly by check or credited to another NRCCU account. This option may result in a lower APY. Paid interest on IRA's is added to Principal.
**If rates go up on NRCCU's 42-month certificates during the term of the 42-month certificate, there is a one-time option of increasing the rate up to the next level. The increased rate (the new rate) is what the certificate will earn for the remainder of the term.
*APY=Annual Percentage Yield
Deposits are insured up to $100,000, ($250,000 IRA) or more depending on account ownership type, by the National Credit Union Administration (NCUA), an agency of the United States Government.
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