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Loan Rates
Select to see pages 2 and 3 of GAP brochure

KLCU Logo
4017 Poplar Level Road, Louisville, KY 40213-1523

Loans   (2019)          (click here for an application
(Loan applications signed by joint maker will constitute joint/cosigner status and responsibilites.)

Term

APR*

***NOTE*** : We are required to ask you to submit income verification to the credit union to complete all loan requests.    Apply Now. Click here for a scanned in version of our Loan Application!

 Low rates !   (See additional information at the bottom of the page!)

 New lower rates!

 as low as 2.99% !

 Auto, Truck  100% financing model years 2010-present
The older the vehicle, the shorter the term and higher the interest rate.

 up to 5 years **  as low as 3.49%*** to 4.50%

 Auto, Truck   80% financing model years 2010-present
The older the vehicle, the shorter the term and higher the interest rate.

 up to 5 years **  as low as 2.99% to 4.00%
 Motorcycles, RVs, Boats, etc. model years 2010-present
The older the vehicle, the shorter the term and higher the interest rate.
 up to 5 years **  as low as 4.75% to 5.75%
 Signature Loans and Signature Line-Of-Credit
Interest rate is a Fixed rate and is based on credit score.
Line-Of-Credit has a minimum advance of $100.00 per transaction requirement. No additional fee.
 up to approx. 3 years  9.9% to 16.9%
 12/12 Loan - Interest rate is based on credit score.  1 year  12% to 18%
 Home Improvement Loan - contact us for details  upto 5 years  3.90% to 8.40%
 Real Estate/Mortgage Loans - Contact Judy (NMLS# 603237) on phone extension 16 or email address:  realestate@kembaky.org  Credit Union NMLS #414341  
Share (Savings) or CD secured Loan (IRA CD not eligible)    3% above earning rate of pledged funds
 Credit Builder Loan     Credit Builder Loan is a new loan type to help build or rebuild your credit.   1 year   6% to 8%
 We do not penalize you for early payment or payoff !    


 *** Example: 3.49% APR, 60 months = Rate per $1,000 borrowed monthly factor is $18.20.  A loan financing $20,000 would be a monthly payment of  $364.00 before any add-ons, such as Credit Insurance, GAP+ADR or Extended Warranty.
Interest rates are based on primvary member's credit score, model year of vehicle and whether 100% or 80% financing of NADA total retail value.
Interest rates are based on primvary member's credit score, model year of vehicle and whether 100% or 80% financing of NADA total retail value.
** upto 6 years available if financing over $20,000 and 80% financing at stated APR + 1%
*APR = Annual Percentage Rate
All loan rates mentioned above are Fixed Rates, meaning that the rates will not/ cannot fluxuate after consumation of the loan. The only exception is our Revolving Home Equity Line-Of-Credit, which has a variable rate that may change only twice a year - April 1st and October 1st.

***NOTE*** : You must send income verification to the credit union to complete all loan requests. Please include 'household' income regardless of joint maker signing or not.

To qualify for the lowest interest rates, your credit score must be at least 680 when the credit union employee pulls it from Transunion using the FICO-Classic 04 scoring, AND if this is for a vehicle -  financing 80% or less for the vehicle based on its MSRP or, if used, the NADA clean retail + options +/- mileage value.

The following should be discussed during any and all vehicle loan preparations:

1- Credit Insurance = Disability coverage pays loan payments while the member is unable to work due to injuries/illnesses longer than 14 continuous days while under a doctor's care. It pays from day 1 of the disability (as determined by the doctor/employer statements) until the loan pays out or the doctor releases the member.   Life coverage pays off the loan after receipt of a death certificate, if the covered member becomes deceased.
2- GAP+ADR = After a vehicle/collateral for a loan has been deemed a total loss by the member's insurance company and that company has paid against the loan BUT there is a balance still hanging, then GAP attempts to, and most of the times DOES, finish paying off the vehicle loan. Usually if a loan starts out at 93% or more than the NADA clean retail value of the vehicle, then the member could be 'up-side-down'.   The ADR is Auto Deductible Reimbursement. Basically, it will reimburse the member for up to $500 of the member's deductible if their vehicle is involved in an accident and they had to pay the insurance deductible. KEMBA LouCU's GAP+ADR at this time adds less than $2 per week on a 4 or 5 year loan.
3- Extended Warranty = You buy your car and you LOVE your car!!!  Sometimes a part will break. Now you have to find the fund$ to get it repaired and running like new. IF you purchase the extended warranty at the time of the loan/purchase you won't have to look for the funds, the funds are already there!  Route66 extended warranty has some very good features:  NO Deductible! per visit, repair or part!  24/7/365 road service!  Total-Loss-Refund! If your vehicle gets totaled before the extended warranty is expired... Route66 refunds the premium!  It's THAT simple! 

So, be sure to ask at the time of loan processing for these features from your Member Service Rep.!
 

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