Cambridge Municipal Employees Federal Credit Union

New Vehicle & Boat
Used Vehicle & Boat
Education
Pledged
Unsecured
Home Equity

New Title Vehicle & Boats: Risk Base Lending

Credit Score:
720 - 850 Excellent 4.50%
700 - 719 Very Good 5.50%
675-699 Acceptable 6.50%
620-674 Uncertain 7.50%
560-619 High Risk 8.50%
500-559 Extreme High Risk 9.50%

Up to 100% of Cost for Up to 72 Months

Interest rates are current as of May 1, 2011 and are subject to change without notice

Used Title Vehicle & Boats, no more than 7 model years to current calendar year:

Credit Score:
720-850 Excellent 5.50%
700-719 Very Good 6.50%
675-699 Acceptable 7.50%
620-674 Uncertain 8.50%
560-619 High Risk 9.50%
500-559 Extreme High Risk 10.50%

Up to 100% of cost for cars newer than 3 years for up to 72 months. Up to 90% of cost for cars older than 3 years for up to 60 months. Used titled Vehicle and Boat loans for 60 months must be amounts greater than $20,000.00.
Interest rates are current as of May 1, 2011 and are subject to change without notice

Education Loans:

Maximum of $15,000.00 up to 48 months

Interest rates are current as of May 1, 2011 and are subject to change without notice

Pledged Loans:

4.25%

Up to 60 months maximum

Interest rates are current as of May 1, 2011 and are subject to change without notice

Unsecured Loans/Personal:

Score value of 720 or over - up to $15,000.00, no co-maker necessary 8.50%
Score value of 700 to 719 - up to $10,000.00 no co-maker, over $10,000.00 co-maker needed 9.50%
Score value of 675 to 699 - up to $ 5,000.00 no co-maker, over $ 5,000.00 co-maker needed 10.50%
Score value of 620 to 674 - up to $2,500.00 no co-maker, over $2,500.00 co-maker needed 12.00%
Score value of 560 to 619 - acceptable co-maker only 13.00%

UNSECURED LOANS CANNOT BE REFINANCED UNLESS 50% MATURED.

Interest rates are current as of May 1, 2011 and are subject to change without notice

Home Equity Loan:

BEGINNING MAY 1, 2011 HOME EQUITY LOANS – PRIME PLUS 1%.

Interest rates are current as of May 1, 2011 and are subject to change without notice

The Loan Officer/Credit Committee, which reviews and evaluates loan applications, has the responsibility and authority to approve or reject any loan application, and to rule on any emergency, or to grant any amount exceeding the maximum upon review and considered judgement.

The Credit Union will require a computation of debt ratio on all loans, this debt ratio must not exceed 45%.


	795 Massachusetts Ave., City Hall Cambridge, MA 02139 617-547-1904 Fax: 617-547-7969 info@cambridgefcu.com



		The Cambridge Municipal Employees Federal Credit Union proudly serves the municipal employees of the City of Cambridge. Once you become a member of the Credit Union, you are a member for life, regardless of your employment or residence. Our friendly and knowledgeable staff are always available to help you establish a relationship with the Credit Union and answer any questions you may have. We look forward to serving you!

		New Vehicle & Boat Used Vehicle & Boat Education Pledged Unsecured Home Equity New Title Vehicle & Boats: Risk Base Lending Credit Score: 720 - 850 Excellent 4.50% 700 - 719 Very Good 5.50% 675-699 Acceptable 6.50% 620-674 Uncertain 7.50% 560-619 High Risk 8.50% 500-559 Extreme High Risk 9.50% Up to 100% of Cost for Up to 72 Months Interest rates are current as of May 1, 2011 and are subject to change without notice Used Title Vehicle & Boats, no more than 7 model years to current calendar year: Credit Score: 720-850 Excellent 5.50% 700-719 Very Good 6.50% 675-699 Acceptable 7.50% 620-674 Uncertain 8.50% 560-619 High Risk 9.50% 500-559 Extreme High Risk 10.50% Up to 100% of cost for cars newer than 3 years for up to 72 months. Up to 90% of cost for cars older than 3 years for up to 60 months. Used titled Vehicle and Boat loans for 60 months must be amounts greater than $20,000.00. Interest rates are current as of May 1, 2011 and are subject to change without notice Education Loans: 7% Maximum of $15,000.00 up to 48 months Interest rates are current as of May 1, 2011 and are subject to change without notice Pledged Loans: 4.25% Up to 60 months maximum Interest rates are current as of May 1, 2011 and are subject to change without notice Unsecured Loans/Personal: Score value of 720 or over - up to $15,000.00, no co-maker necessary 8.50% Score value of 700 to 719 - up to $10,000.00 no co-maker, over $10,000.00 co-maker needed 9.50% Score value of 675 to 699 - up to $ 5,000.00 no co-maker, over $ 5,000.00 co-maker needed 10.50% Score value of 620 to 674 - up to $2,500.00 no co-maker, over $2,500.00 co-maker needed 12.00% Score value of 560 to 619 - acceptable co-maker only 13.00% UNSECURED LOANS CANNOT BE REFINANCED UNLESS 50% MATURED. Interest rates are current as of May 1, 2011 and are subject to change without notice Home Equity Loan: BEGINNING MAY 1, 2011 HOME EQUITY LOANS – PRIME PLUS 1%. Interest rates are current as of May 1, 2011 and are subject to change without notice The Loan Officer/Credit Committee, which reviews and evaluates loan applications, has the responsibility and authority to approve or reject any loan application, and to rule on any emergency, or to grant any amount exceeding the maximum upon review and considered judgement. The Credit Union will require a computation of debt ratio on all loans, this debt ratio must not exceed 45%.