Loans

Secured Loans

Auto & RV

  • Secured by collateral: automobiles, trucks, vans, motorcycles, boats, ATVs, tractors, lawnmowers, etc.

  • The lowest loan rates available are on secured loans

  • Maximum term determined by loan amount: 8 years – automobiles / 15 years - recreational

  • A late fee of $20 per month

Share Secure & Certificate Secure

  • Rate + 2%

  • Up to 84 months

Credit Builder Loans

  • Helps members establish or improve their credit

  • Maximum term of 1 year

Signature Loans / Unsecured Loans

Signature Loans

  • No collateral required

  • Must have a reason for loan: bills, medical, vacation, home repairs, etc.

  • Maximum term of 4 years (determined by loan amount and credit score)

  • A late fee of $20 per month

Tuition Reimbursement

  • Offered to LG&E employees only

  • 5-month term (balloon payment)

  • 10% interest rate

Anything Under The Sun & Holiday Loans

  • Special rates

  • Offered for a short period of time

  • Maximum term of 1 year

  • A late fee of $20 per month

Student Loans

  • Offered partnership with Sallie Mae

  • Competitive variable and fixed interest rates

  • No origination fee or prepayment penalty

  • Multiple repayment options

Visa Credit Cards

  • Platinum limits $5,000-$15,000

  • Classic limits $500-$5,000

  • No annual fee

  • Free balance transfers

  • Platinum purchase rate 9.90%, balance transfer rate 6.90% for life of balance

  • Classic purchase rate 13.90%, balance transfer rate 10.90% for life of balance

Rewards program for Platinum cardholders. Redeem rewards at www.curewards.com

Home Equity Line of Credit (HELOC)

  • Limits: $5,000 - $100,000 (up to 90% of the value of the home minus the first mortgage balance)

  • Open-ended loans which are first or second-mortgages only

  • No closing cost

  • The minimum draw/advance is $250

  • Free book of 25 loan drafts (checks)

  • Cash can be obtained by loan drafts or advances at the Credit Union

  • The payment is 1.50% of the loan balance with a minimum payment of $50

  • All payments are due by the 15th of each month

  • The late fee is 5% of the payment due with a minimum late fee of $20

  • The property is to be in one of the approved counties listed in Real Estate Loan Eligible Counties Section below.

  • Other fees:

    • A $25 annual fee; applied in January

    • $20 fee if an advance is less than $250

    • Closing costs are applied if the loan is closed within: Variable – 3 years / Fixed – 1 year 

Variable Rate

  • Term – 15 years maximum (5-year draw and maximum 10-year payback) 

  • Wall Street Journal Prime rate minus .50% (the maximum rate is the maximum allowed by Kentucky law – currently 18%)

Fixed Rate

  • Term – 7 years maximum (2-year draw and a maximum 5-year payback)

  • Wall Street Journal Prime rate plus .50% (the maximum rate is the maximum allowed by Kentucky law – currently 18%)

Home Equity Loans

The Credit Union offers closed-end home equity loans to its members and encourages them to take advantage of no closing costs.

  • Limits: $5,000 - $100,000 (up to 90% of the value of the home minus the first mortgage balance)

  • No closing cost

  • Credit Union will be in first or second lien position

  • The payment is based on the term and the rate (refer to loan rate sheet for current rate)

  • All payments are due by the 15th of each month

  • The late fee is 5% of the payment due (minimum late fee is $20)

If the loan is closed within one year, closing costs are applied.

The property is to be in one of the approved counties listed in Real Estate Loan Eligible Counties Section below.

Mortgage Loans

The Credit Union offers mortgage loans through a selected mortgage company. Some mortgage loans are financed through the Credit Union if they meet the criterion approved by the Board of Directors in the Mortgage Loan Policy.

Mortgage Lending Originators:

  • Credit Union NMLS #410538

  • Shari NMLS #2104761

  • Todd NMLS #1760919

  • Kelsey NMLS #1849727

  • Shannon NMLS #1849712

  • Asia NMLS #2409015

  • Crystal NMLS #2548601

Land / Lot Loans

  • Land/Lot loans will be for a minimum of $5,000 and a maximum of $75,000

  • The member will be responsible for all closing costs. The closing costs could include an appraisal, title search, survey, flood search, and perk test

  • The property is to be in one of the approved counties listed in Real Estate Loan Eligible Counties Section below.

Real Estate Loan Eligible Counties

KY: Anderson, Breckenridge, Bullitt, Carroll, Daviess, Grayson, Hancock, Hardin, Hart, Henderson, Henry, Jefferson, Larue, Meade, Nelson, Oldham, Shelby, Spencer, Trimble, and Webster

IN: Clark, Crawford, Floyd, Harrison, Jefferson, Orange, Perry, Scott, Switzerland, Washington