Loans Products
Home Equity Loans
Use the equity you have built up in your home to borrow money for home improvements, vacations, or other purchases. Home Equity Loans are available as a lump sum. Total Assurance FCU offers great low rates.
New & Used Vehicle Loans
Get a low rate on loans for new and used vehicles. Convenient repayment options include repaying your loan through payroll deduction, direct deposit, or by transferring monthly payments from your Total Assurance FCU Share Checking Account. Apply for a loan before you go shopping for your vehicle.
Signature Loans
Signature loans allow you to borrow on the strength of your credit, with no collateral necessary, as one lump sum.
StretchPay
StretchPay is a special loan program, effective January 1st 2009, designed to help members who need a small-dollar loan to carry you over until they receive your next regularly-scheduled income check. StretchPay is designed to be an alternative to expensive for-profit payday lenders that often charge $15 per $100 up to $800 for two to four weeks.
StretchPay is a special line-of-credit loan designed to make it easy and less expensive for you to obtain affordable short-term credit. StretchPay is set up with one important difference to traditional lines-of-credit: you must repay your entire outstanding balance (plus interest) before subsequent advances are permitted. Thus, if you take a $250 advance on your StretchPay line of credit, you must pay off the entire balance before borrowing again.
StretchPay is significantly less expensive than a traditional payday loan. Borrowers pay a $35 annual fee (for a $250 line of credit) and an interest rate of around 18% APR on their advances. The annual fee may be taken out of their first advance during a 12-month period. A borrower who uses StretchPay for 12 advances on a $250 line of credit during a 12-month period will pay approximately $77 for 12-months’ access to the loan. A borrower who uses a traditional payday lender may pay more than $400 for the same amount of credit.
Your savings are federally insured to a minimum $250,000 by the National Credit Union Administration, a U.S. Government Agency.
