LOAN RATE AND FEE SCHEDULE
Effective November 1, 2008

All loan rates and dividends offered by the Register–Guard Federal Credit Union are determined by the Board of Directors and may change in the future without notice. The Credit Union reserves the right to increase the payment on a loan when the accrued monthly interest exceeds the monthly payment. This Loan Rate and Fee Schedule is part of the LOANLINER Credit and Security Agreement and sets forth the fixed rates and variable rates, margins and ANNUAL PERCENTAGE RATES offered by the Register–Guard Federal Credit Union for the loan types listed. The rate for which a Borrower may qualify may depend on the Borrower’s collateral and relationship with the Credit Union. The Periodic Rate and ANNUAL PERCENTAGE RATE determined for a particular loan will be set forth on the Loan Transaction Advance Voucher provided at the time the loan is made.

Your initial interest rate on all loan products except Overdraft Lines of Credit and Pay Day Alternative, programs may be discounted up to .50% based upon your “Financial Partner” relationship with the Credit Union. The following qualifying services apply: Checking; Automatic Loan Payment; Direct Deposit; Electronic Bill Payment; Home Banking; Member of at least 7 years with active checking or direct deposit into an RGFCU account; a Certificate of Deposit (with a balance of $5,000 or more); a Share Account (with a balance of $2,500 or more); an IRA, CHEF or Money Market Account (with a balance of $5,000 or more.) Loans must be in good standing to qualify for discount. Loans delinquent 60 days or more may revert to the rate without the discount. Loans that have two 30-day late payments within one year may revert to the rate without the discount. Rates are discounted as follows: 2-3 Qualifying Services–0.25%; 4 or more Qualifying Services–0.50%

(Index as of 05/0108 – Prime Rate: 5.00%)

VEHICLE MONEY SALE:  Your initial annual percentage rate will be discounted as set forth on your LoanLiner Credit Agreement Addendum. The discounted rates ranging from 5.25% to 5.95% is shown above.  This interest rate will revert to the prevailing rate that will be in effect on the first day of the quarter of the month following the expiration of the initial discount period.
PERSONAL RECREATIONAL VEHICLE MONEY SALE:  Your initial annual percentage rate will be discounted as set forth on your LoanLiner Credit Agreement Addendum. The discounted rates ranging from 6.25% to 6.95% is shown above.  This interest rate will revert to the prevailing rate that will be in effect on the first day of the quarter of the month following the expiration of the initial discount period. 

The ANNUAL PERCENTAGE RATE on a variable rate loan is subject to change on the first day of January, April, July and October.  The index used is the Prime Rate, as published in the Money Rates section of the Register-Guard.  To determine the ANNUAL PERCENTAGE RATE that will apply to your account, we will add a margin to the value of the index.  The margin shown above is the percentage you may be charged above the index.  The ANNUAL PERCENTAGE RATE will never be less than 3.50% or greater than 18% or the maximum rate allowed by law, whichever is less. The rate cannot increase or decrease more than 2.0 percentage points at each adjustment. If the APR increases you will be required to make more payments of the same amount.

These ANNUAL PERCENTAGE RATES may be lower than allowable under the terms of this addendum.  We reserve the right to increase the ANNUAL PERCENTAGE RATE to the full percentage allowed (Index plus Margin) at any regular adjustment date in the future.  If we forgo an ANNUAL PERCENTAGE RATE increase, we may implement such an ANNUAL PERCENTAGE RATE increase at a later change date.

TITLE/TRANSFER/FILING FEES:  You will be charged a lien filing fee at the time of an advance if the credit union takes a 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.

COLLECTION COSTS: You agree to pay all costs of collecting the amount you owe under this agreement including court costs, reasonable attorney fees and the cost of any appeal by the Credit Union. In the event that any loan, account, or other claim for money due hereunder is placed in the hands of an attorney for the purposes of collection, I/we promise to pay all late charges, expenses and costs incurred in collecting any sums due, including any collection agency fees incurred, whether or not a lawsuit is filed, together with all attorney fees. If litigation is commenced to enforce any term(s) of this Agreement, or otherwise to collect any loan, account, or other claim for money due hereunder, the prevailing party shall be entitled to recover its reasonable attorney fees, including such fees on appeal, together with any unpaid expenses, late charges and costs of collection, including collection agency fees incurred, together with a reasonable sum for attorney fees, expenses and costs incurred in the collection. LATE CHARGES:  If you are more than 10 days late, you will be charged a $15.00 late fee. MINIMUM MONTHLY PAYMENT: The minimum monthly payment on your Overdraft Line of Credit will be $50.00.  Monthly payments will be automatically transferred from your account. OTHER CHARGES: On Line of Credit Loans, you will be charged a $12.00 fee for each transaction which causes your loan balance to exceed your credit limit. LOAN EXTENSIONS/SKIP PAYMENTS:  $10.00.  One skip-payment per loan in a normal calendar year.  If you request to skip a payment, and we approve your request, finance charges (interest) will continue to accrue during the time period that a payment is skipped.

(Index as of 06/26/08: 1-month average of 6-month Treasury Bill: 2.151%, rounded to 2.25%)

*EQUITY LINE OF CREDIT: Your initial annual percentage rate will be held for 12 months. The discounted range of rates is 6.45% - 6.95% is shown above.  This interest rate will revert to the prevailing rate that will be in effect on the first day of January or July following the 12-month anniversary of your initial loan disbursement.  Property insurance required.  Borrower pays all third party costs–$56.00 to $800.00 (e) cost to re-convey Deed of Trust $130 (e) charged when loan is paid in full.

The ANNUAL PERCENTAGE RATE on a variable rate loan is subject to change on the first day of January and July.  The index used is the monthly average of the 6–month Treasury Bill rounded up to the next .25%, as published in The Wall Street Journal or as published on the website www.publicdebt.treas.gov. We will use the most recent index value available to us as of 10 days before the date of any annual percentage rate adjustment.  To determine the ANNUAL PERCENTAGE RATE that will apply to your account, we will add a margin to the value of the index.  The margin shown above is the percentage you may be charged above the index.  The ANNUAL PERCENTAGE RATE will never be less than 7.9% or greater than 18% or the maximum rate allowed by law, whichever is less.  The rate cannot increase or decrease more than 2.0 percentage points at each adjustment.  If the APR increases you may be required to make more payments of the same amount. These ANNUAL PERCENTAGE RATES may be lower than allowable under the terms of this addendum.  We reserve the right to increase the ANNUAL PERCENTAGE RATE to the full percentage allowed (Index plus Margin) at any regular adjustment date in the future.

COLLECTION COSTS:  You agree to pay all costs of collecting the amount you owe under this agreement including court costs, reasonable attorney fees and the cost of any appeal by the Credit Union. In the event that any loan, account, or other claim for money due hereunder is placed in the hands of an attorney for the purposes of collection, I/we promise to pay all late charges, expenses and costs incurred in collecting any sums due, including any collection agency fees incurred, whether or not a lawsuit is filed, together with all attorney fees. If litigation is commenced to enforce any term(s) of this Agreement, or otherwise to collect any loan, account, or other claim for money due hereunder, the prevailing party shall be entitled to recover its reasonable attorney fees, including such fees on appeal, together with any unpaid expenses, late charges and costs of collection, including collection agency fees incurred, together with a reasonable sum for attorney fees, expenses and costs incurred in the collection   LATE CHARGES:  If you are more than 15 days late, you will be charged 20% of the finance charge due but not less than $1.00 or more than $15.00. LOAN EXTENSIONS/SKIP PAYMENTS:  $10.00.  One skip-payment per loan in a normal calendar year.  If you request to skip a payment, and we approve your request, finance charges (interest) will continue to accrue during the time period that a payment is skipped.

(Index as of 06/26/08: 1-month average of 6-month Treasury Bill: 2.151%, rounded to 2.25%)

MANUFACTURED HOMES:  Maximum loan-to-value on Manufactured Home with No Land is 70% of the lesser of the purchase price, real market tax assessed value or appraisal.  Maximum loan-to-value on Manufactured Home Loan With Land is 75% of the lesser of the purchase price, real market tax assessed value or appraisal.  Appraisals required on all purchase money loans.  Member pays all third party costs including State of Oregon Fees - $55 (e), Escrow Fee - $150 (e).  Member will be required to surrender title to manufactured home for all requests with Manufactured Home and Land programs. 

The ANNUAL PERCENTAGE RATE on a variable rate loan is subject to change on the first day of January and July.  The index used is the monthly average of the 6–month Treasury Bill rounded up to the next .25%, as published in The Wall Street Journal or as published on the website www.publicdebt.treas.gov.  We will use the most recent index value available to us as of 10 days before the date of any annual percentage rate adjustment.  To determine the ANNUAL PERCENTAGE RATE that will apply to your account, we will add a margin to the value of the index.  The margin shown above is the percentage you may be charged above the index.  The ANNUAL PERCENTAGE RATE will never be less than 12.90% or greater than 18% or the maximum rate allowed by law, whichever is less.  The rate cannot increase or decrease more than 2.0 percentage points at each adjustment.  If the APR increases you may be required to make more payments of the same amount.

TITLE/TRANSFER/FILING FEES:  You will be charged a lien filing fee at the time of an advance if the credit union takes a 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. COLLECTION COSTS:  You agree to pay all costs of collecting the amount you owe under this agreement including court costs, reasonable attorney fees and the cost of any appeal by the Credit Union. In the event that any loan, account, or other claim for money due hereunder is placed in the hands of an attorney for the purposes of collection, We promise to pay all late charges, expenses and costs incurred in collecting any sums due, including any collection agency fees incurred, whether or not a lawsuit is filed, together with all attorney fees. If litigation is commenced to enforce any term(s) of this Agreement, or otherwise to collect any loan, account, or other claim for money due hereunder, the prevailing party shall be entitled to recover its reasonable attorney fees, including such fees on appeal, together with any unpaid expenses, late charges and costs of collection, including collection agency fees incurred, together with a reasonable sum for attorney fees, expenses and costs incurred in the collection  LATE CHARGES:  If you are more than 15 days late, you will be charged 20% of the finance charge due but not less than $1.00 or more than $15.00. LOAN EXTENSIONS/SKIP PAYMENTS:  $10.00.  One skip-payment per loan in a normal calendar year.  If you request to skip a payment, and we approve your request, finance charges (interest) will continue to accrue during the time period that a payment is skipped.

 

MORTGAGE LOANS

The Register–Guard Federal Credit Union through a business relationship with Pacific Cascade Mortgage, LLC is pleased to provide a full range of fixed and variable mortgage products.  Options are available for members with a variety of credit, down payment, length of employment and monthly payment requirements.  Programs for both the purchase and/or refinance of your owner-occupied or non-owner occupied real properties are available.  Call us at 988-9059 to find out more information or click here.

Pacific Cascade Mortgage Company, LLC WEBSITE Whether you're making improvements or simply making a house your new home, we have a mortgage loan to fit your needs.