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Loans
A Better Way to Borrow
Cy-Co FCU provides at no direct cost Member's Choice™ Loan Protection to eligible members. It pays off your loan, up to $25,000, if you die before the loan is repaid. And if you borrow jointly, we provide Joint Loan Protection that covers a co-borrower, also at no direct cost to you. There's no better way to protect your collateral and family during the emotionally and financially trying times that accompany a death.
Cy-Co FCU also provides, at a reasonable cost, Member's Choice™ Disability coverage. It pays your monthly loan payment up to $600 ($30,000 maximum), if you are temporarily disabled and can't work. Benefit payments continue until you return to work, the loan is repaid, or you reach the policy maximum. And this policy pays from the first day of disability after waiting just 14 days. Coupled with Loan Protection, it's one of the most comprehensive and reasonably priced payment protection packages anywhere.
Lending Solutions
Our loans deliver a lot of value to our members: low rates, generous terms, no hidden fees and no pre-payment penalties.
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The maximum term of financing is 72 months. We finance up to 100% of the selling price including tax,
title and license (On Approved Credit).
The maximum term of financing is 60 months, depending upon the amount financed and the age of the collateral.
Financing is based On Approved Credit and as follows:
Used Auto - up to 100% of the NADA W/S Value, including tax, title and license.
Used Boat, Motor and Trailer - up to 100% of the NADA Average W/S Value, including tax, title and license.
Used RV, Camper and Trailer - up to 100% of the NADA Used W/S Value, including tax, title and license.
Used Motorcycle and ATV - up to 100% of the NADA Clean Trade-In W/S Value, including tax, title and license.
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Use the money in your credit union Regular Share Account or Term Share Certificate, excluding IRA savings accounts or IRA certificates, as collateral without affecting your dividend earnings. This is a great way to pay less interest on your loan while maintaining the balance in your account.
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Furniture, appliances, home improvement, and debt consolidation are just a few reasons to obtain a personal loan with terms up to 48 months. Loan rates and terms are based On Approved Credit.
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Loans for education are also available up to 12 months. Loan rates are based On Approved Credit.
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Cy-Co FCU participates in the Federal Family Education Loan Program (FFELP). The
lender code for Cy-Co FCU is 833937. You must be a member of this credit union to receive a FFEL from Cy-Co FCU.
For students:
Subsidized Federal Stafford Loan - are available to both dependent and independent undergraduate, graduate, and professional students. Students are notified through an award letter about whether they qualify, but it is the student's responsibility to initiate and go through the loan process. It is called a subsidized loan because the government pays the interest on the loan while student's status is "in school", "grace", or "deferment."
Unsubsidized Federal Stafford Loan - are available to both dependent and independent undergraduate, graduate, and professional students. The government does not pay interest on the loan at any time. The student is solely responsible for the interest, but can request to have interest payments deferred and allowed to accrue. Any unpaid accrued interest outstanding at the time the borrower enter repayment will be capitalized. In certain cases, students qualify for both subsidized and unsubsidized Federal Stafford loans.
For parents:
Federal PLUS Loan - are for covering college expenses and available to parents or stepparents of dependent undergraduate students. These loans are not based on financial need or awarded through the financial aid process. (Students must go through the FAFSA process before their parents can receive this loan--credit permitting: parents' information is requested on the students' FAFSA). You can print out a FAFSA or submit it electronically through the Department of Education's Web site at
www.fafsa.ed.gov.
Note: If you have any questions while you are completing the application for a Stafford Student Loan or Federal PLUS Loan, please call Great Lakes Higher Education Loan Service (Cy-Co FCU's Education Loan Guarantor/Servicer) at 1-800-236-6600.
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Cy-Co FCU has just the card for you! Having our MasterCard allows you the following benefits:
- 8.95% APR for our VISA Plantium card
- 12.95% APR for both of our SECURED and UNSECURED Cards
- NO Annual Fee
- 25 Day Grace Period on all purchases.
- ATM Access Nationwide with MasterCard PIN
- DIRECT PAYMENT of your monthly payment via ACH--no need to write a check!
- Charge Guard Insurance, which
- Pays your minimum monthly payment if you involuntary lose your job.
- Pays your minimum monthly payment if you're ill or injured and unable to work.
- Pays your minimum monthly payment if you or your spouse take family leave to care for a new baby or a sick family member.
- Pays your entire insured account balance-up to $10,000-in the event of your death.
- Plus, you can continue to use your card while receiving benefits. And, you never have to pay a penny of those benefits back.
- MEMBER'S CHOICE coverage is not automatic, you must enroll.
Want to manage your card account online? Simply go to www.eZCardInfo.com and enroll in our new online service. You can review account information, track spending, set alerts, download files, and much more. Managing your account is fast, secure and easy.
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