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with any questions
or comments!
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1-800-554-8969
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Teachers
educating children.
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LOAN SERVICES
Fulton Teachers' Credit Union wants to be
your source for all of your borrowing needs. We offer a wide variety of lending
opportunities to fit your lifestyle. Our quick processing, convenient financing, and
competitive interest rates make borrowing simple. An advantage to borrowing from us is
that if you pay your loan off early, there is no prepayment penalty. The interest is
computed daily and you will be charged only for the number of days you have use of the
money. For more information on loans, contact a loan officer at the credit union. To apply
for a loan, click here  .
The following is a brief description of our loan services:
A Signature Loan is an unsecured loan
that is perfect for those unexpected expenses like car repairs, medical bills, vacations,
or whatever you want to use it for. The amount that you are eligible to apply for is based
on the years of service with your employer as follows:
YEARS EXPERIENCE
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AMOUNT
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MAXIMUM TERM
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1
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$1,200.00
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Pay out in contract year
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2
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$1,500.00
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24 Months
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3
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$2,000.00
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24 Months
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4 - 7
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$3,000.00
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36 Months
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8 - 10
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$4,000.00
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48 Months
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11 - 14
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$4,500.00
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48 Months
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15 - 19
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$5,500.00
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60 Months
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20 plus
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$7,000.00
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60 Months
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Simply click
here to apply on-line.
A Share Secured Loan is a loan that is secured by
savings in your Share Savings Account. It is perfect for borrowing money and paying
yourself back with the lowest possible finance charges. Members may borrow up to 90 % of
their savings for a maximum of 60 months. The interest rate is 2 % above the highest rate
that was last declared for the dividends in the Share Account if the term is between 1 to
24 months and 3 % above the highest rate that was last declared for the dividends in the
share account if the term is between 25 to 60 months. After each payment is made, the
secured amount reduces by the principle that was paid. Best of all, the secured amount is
earning interest for you over the life of the loan. So let your savings work for you and
take advantage of a lower interest expense. Simply click
here to apply on-line.
A CD Secured Loan is a loan that allows you to borrow
money by pledging your CD as collateral. Members may borrow up to 90 % of their CD with a
maximum term of 60 months. The interest rate is 2 % above the CD rate. So take the
advantage of a lower interest rate and let your CD work for you. Simply click
here to apply on-line.
Fulton Teachers' Credit Union offers the lowest
interest rates for cars with a variety of convenient terms on both new and used vehicles.
Before you buy a car, please consult a loan officer at the credit union for guidance. We
can help you save hundreds of dollars by providing you with the important information you
need to know. We will provide you with the lowest rates, financing comparisons, dealer
invoices, cost of extra car options, NADA retail and trade-in values, and the option of
using car buying services. You can reduce your car loan rate by .50 % by pledging
$2,000.00 in your Share Savings Account.
Ideally, the first step in buying a car is to pre-qualify
so you can go shopping with your "loan in hand". If you have already purchased a
new or used car, it is not too late to take advantage of your credit union loan service.
We can match or possibly offer a lower interest rate in refinancing your car which in turn
will save you money.
If you need help finding the right car, use one of our
car buying services (Enterprise
Car Sales, Car Solutions or
some of our Special Fleet Sales Managers). For more information, contact a loan officer at
the credit union. Simply click
here to apply on-line.
In this day and age, every family/teacher
needs a personal computer for their home to do their financial planning, conduct research,
plan lessons, and help educate children. We are proud to offer a low rate on computer
loans. Members may apply for a computer loan for a maximum term of 36 months. Just bring
in a purchase order detailing the components of the computer from the store you are
purchasing it from, and we will give you a check to take back to the store. It is as easy
as that! Simply click
here to apply on-line.
Fulton Teachers' Credit Union wants to
help you make the most of your recreational time with a loan for your new or used boat,
motorcycle, tractor, or motor home. A standard loan can be granted for up to 80 % of the
purchase price. The term is determined by the age of the boat, motorcycle, tractor, or
motor home. Down payment can be adjusted depending on credit application and age of
vehicle. Simply click
here to apply on-line.
A Home Equity Loan is perfect for home
improvements, college tuition, or any other large expenses. We are proud to offer this
loan for members who want to make the most of their home investment by taking the tax
advantages associated with this type of loan. This affordable loan is at a low variable
rate and maybe financed over a period of five to ten years. Once the loan is made, the
member has a line of credit up to the amount set at closing. If you need to make a draw
from your line of credit, just call the credit union and request a check to be mailed to
you, deposited into your savings or picked up at the credit union. Employees with at least
three years service may apply for up to 80 % of the appraised or tax assessment value of
their primary residence less the amount owed on a first mortgage. The minimum amount is
$10,000.00. All normal closing costs are paid by the credit union unless the loan is
paid in full within the first year. So start taking advantage of the tax break and
contact a loan officer at the credit union for more details. Simply click here
- Request for Application.
A Fixed Rate Second Mortgage Loan is
perfect for home improvements, college tuition, or any other large expenses. Borrow money
on your home with a Fixed Rate Second Mortgage Loan and start taking advantage of the tax
breaks. This type of loan is similar to the Home Equity Loan but does not have a line of
credit. The full amount will be advanced to you in three days after closing (right of
recession) with affordable financing terms from five to ten years and with a fixed low
rate. Employees with at least three years service may apply for up to 80 % of the
appraised or tax assessment value of their primary residence less the amount owed on a
first mortgage. The minimum amount is $10,000.00. All normal closing costs are paid
by the credit union. In some cases, we may loan up to 90 % to 100 %. So start taking
advantage of the tax break and contact a loan officer at the credit union for more
details. Simply click here - Request for Application.
Make your dreams of owning a home come true by
financing a home with Fulton Teachers' Credit Union. We offer a variety of different
affordable plans such as low fixed rate 30 year loans, low fixed rate 15 year loans, low
variable rate loans and several other plans. You will save money with us because we keep
the fees and closing costs to a minimum. We also do not have any pre-payment penalties on
your home loan. We use Credit Union Financial Services (CUFS) to handle all of our First
Mortgage Loans. For more details, please visit www.cufsmortgage.com,
contact a Loan Officer at the credit union or call CUFS directly at (770)506-7476.
To pre-qualify, request a First Mortgage Loan Application, fill it out and return it to
the credit union with a $30.00 pre-application fee. Simply click here - Request for Application.
Fulton Teachers' Credit Union is proud to offer
payment protection for our members to give them peace of mind that if something ever
happened to them or if they were unable to provide an income, they would be covered.
Credit Life Insurance is available for each loan to assure payment of your loan in the
event of death. You will have a maximum amount of coverage of $40,000.00 per loan. Credit
Accident and Health Disability Insurance is designed to make your payment monthly if you
are disabled by sickness or accident during the term of the your loan. The cost of
coverage is included in with the loan payments and is minimal.
Payroll Deduction is a convenient way to save money or
make payments on loans. You can set up a predetermined amount to come out of your paycheck
each month and allocate how you want the credit union to disburse the funds into your
account (either to Savings, Minor Savings, Club Accounts or to make loan payments). This
eliminates mailing in monthly checks to be deposited for savings or repayment of a loan.
To set up payroll deduction, complete a payroll deduction card and return it to the credit
union.
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