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1st
Community FCU uses a credit scoring system to determine your
Annual Percentage Rate (APR) on loans, rewarding members that
maintain an exceptional credit history with a lower interest
rate when borrowing.
Here are the types of loans that we currently offer our
members:
1st Community FCU Loan Features:
Pre-Approved Loan
- saves you time and gives you the bargaining power of cash,
plus the satisfaction of receiving a low rate on your loan
"Driving Sense" Balloon Note
- a form of financing a vehicle purchase that allows you to have
lower monthly payments with a "Balloon" payment and convenient
options at the end of the term of the contract
Indirect Vehicle Financing
- the ability to complete paperwork and finance through 1st
Community at the dealership (the interest rate may be higher for
this convenience)
Simple Interest
- pay only the interest on the current balance; make additional
payments at any time to reduce the principal balance, thus
reducing the amount of interest due
Easy Payment Options
- weekly, bi-weekly, semi-monthly or monthly on most loans;
automatic transfer from your checking or savings account or by
payroll deduction
NADA Official Used Car Guide
- Free information on retail, loan and trade-in values on new
and used cars/trucks, used boats, RVs and motorcycles by phone
or through the lobbies
Skip-A-Payment
- available to qualifying members in November or December of
each year to help with holiday expenses. Exclusions may
apply.
Credit Reference
- credit history is made available electronically to a number of
major credit bureaus; provided to other merchants with the
member's written permission
Insurance and asset protection products offer
coverage with low-cost monthly premiums calculated on the
declining loan balance, and included in your loan payments:
Credit Life Insurance
- protects your family in the event of your death by paying off
your loan; single or joint insurance is available
Credit Disability Insurance
- provides funds to help make your regular loan installments in
the event a covered illness or injury keeps you from working
Involuntary Unemployment Insurance
- will make your scheduled monthly payment if your loss of
employment income results from a qualified loss of employment
GAP (Guaranteed Auto Protection) Waiver
- offers protection against financial liability or loss on a
financed vehicle that is damaged beyond repair (totaled) or
stolen and never recovered - with GAP, the covered deficiency
balance between what you owe on your vehicle and what your
insurance company pays is waived
Mechanical Breakdown Protection
- a vehicle service contract that acts like a new car warranty;
may be purchased separately or added to your loan; available on
new and used vehicles, extending the protection beyond your
manufacturer's warranty
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