New Loan Rates:
Beginning August 1st 2007, we've changed the way we price our loan interest rates. We've always prided ourselves on providing our members with the very best loan rates possible. But as other credit unions and banks have moved to credit score-based pricing of loans, this has been increasingly difficult. Many of our members with high credit scores have found better loan rates elsewhere.
Our new Merit-Based Lending Program will continue our tradition of giving members great loan rates. Under the new system, members receive a loan rate based on their personal credit history - the better the credit, the better the rate.
Members with excellent credit history will receive some of the lowest loan rates in our market area today. Members with past credit issues will still receive a rate that's very competitive, and, we believe, lower than they might pay elsewhere.
