Loan Information
Subject to change without notice.
SIGNATURE LOANS:
(limits based on income)
| Term | Rate |
|---|---|
| 12 months & under | 7.9% |
| 13-24 months | 8.5% |
| 25-36 months | 9.5% |
| 37-48 months | 10.9% |
| 49-60 months | 11.9% |
All loans under $2,000 have a rate of 9.5%
SHARE SECURED LOANS:
100% Share Secured:
| Term | Rate |
|---|---|
| 24 Months & Under | 2.99% |
| 25-36 Months | 3.25% |
| 37-48 Months | 3.5% |
| 49-60 Months | 3.75% |
| 61-72 Months | 3.9% |
| 73-78 Months | 4.25% |
| 79-84 Months (loans $35,000 and up) | 4.9% |
50% Share Secured:
| Term | Rate |
|---|---|
| 24 Months & Under | 5.5% |
| 25-36 Months | 6.5% |
| 37-48 Months | 7.5% |
| 49-60 Months | 8.5% |
All loans under $2,000 have a rate of 6.9%.
VEHICLE LOANS:
2019, 2018 (with mileage under 20,000)
Maximum loan of 95% NADA retail value for used cars.
Maximum loan of 95% MSRP for new cars (not including dealer discounts).
| Term | Rate |
|---|---|
| 24 Months & Under | 2.99% |
| 25-36 Months | 3.25% |
| 37-48 Months | 3.5% |
| 49-60 Months | 3.75% |
| 61-72 Months | 3.9% |
| 73-78 Months | 4.25% |
| 79-84 Months (loans $35,000+) | 4.90% |
2018 (mileage above 20,000), 2017, 2016
Maximum loan of 95% NADA retail value.
| Term | Rate |
|---|---|
| 24 Months & Under | 3.25% |
| 25-36 Months | 3.5% |
| 37-48 Months | 3.75% |
| 49-60 Months | 3.99% |
| 61-72 Months | 4.25% |
2015, 2014, 2013
Maximum loan of 90% NADA retail value.
| Term | Rate |
|---|---|
| 24 Months & Under | 3.99% |
| 25-36 Months | 4.5% |
| 37-48 Months | 4.75% |
| 49-60 Months (2014 only) | 4.99% |
2012, 2011, 2010
Vehicle must have book value of at least $7,000 to qualify.
Maximum loan of 85% NADA retail value.
| Term | Rate |
|---|---|
| 24 Months & Under | 5.25% |
| 25-36 Months | 5.9% |
| 37-48 Months (2011 only) | 6.25% |
2009, 2008
Vehicle must have book value of at least $6,000 and 30 day warranty or guarantee to qualify.
Mileage must not exceed average listed in NADA guide.
Maximum loan of 85% NADA retail value.
| Term | Rate |
|---|---|
| 24 Months & Under | 6.25% |
| 25-36 Months | 6.9% |
HOME EQUITY LOANS:
Minimum loan $15,000
| Term | Rate |
|---|---|
| 3 Years & Under | 3.75% |
| 4, 5, or 6 Years | 3.9% |
| 7 or 8 Years | 3.99% |
| 9 or 10 Years | 4.25% |
| 11 or 12 Years | 4.5% |
| 13, 14, or 15 Years | 4.75% |
Home Equity Loan Application Fees:
$15,000-24,999: $250 with appraisal / $75 without appraisal
$25,000-39,999: $200 with appraisal / $75 without appraisal
$40,000-59,999: $150 with appraisal / $50 without appraisal
$60,000 and up: Free for terms of 6 years or more / Free without appraisal
$100 with appraisal for terms of 5 years or less
No fees will apply for balloon rewrites where no new money is being loaned.
If new money is taken at the time of balloon refinance, an application fee will be charged if a new appraisal is required. A new appraisal is required if the one on file is over 5 years old.
All rates, terms, and policies are subject to change without notice.
All loan rates are APRs (Annual Percentage Rates).
EXISTING BALLOON LOANS:
For our members with existing balloon loans currently in repayment, lower rates will apply if you are refinancing without taking additional funds.
LOAN POLICIES:
Applicants must leave at least 1% of the loan balance(s) on deposit in regular shares up to a maximum of $500.00, but not less than $50.00.
Signature loan limits are subject to your income level. A co-maker may be required.
We can finance:
- 95% of the price excluding fees & taxes for new cars
- 95% of the N.A.D.A. retail value for 2018, 2017, or 2016 model years
- 90% of the N.A.D.A. retail value for 2015, 2014, or 2013 model years
- 85% of the N.A.D.A. retail value for 2012, 2011, 2010, 2009, or 2008 model years
** Manufacturer rebates count toward the 5% down. Dealer discounts do not.
“R title” vehicles may be no more than 3 years old. The maximum loan shall be 60% of N.A.D.A. retail value.
Boats, mobile homes, or motorcycles cannot be classified as vehicle loans.
Home equity loans require submission of an application along with a copy of your deed. They take an average of 3 weeks to process due to appraisal, title search, etc. We will call you to schedule your closing in our office, and funds will be disbursed 3 days after your closing. The Credit Union must be the first OR second mortgagee for all home equity loans. You may wish to pay off an existing mortgage or mortgages to consolidate payment or lower your interest rate.
LOAN APPLICATIONS:
Loans are disbursed by pre-scheduled appointment, typically in the Wilkes-Barre office. Please contact Roger or Wendy at (570) 820-0400 for your appointment or more information.
Though we would prefer to discuss your situation first, our loan application forms are available to print out. Click here for the loan application for signature (personal) or car loans in PDF format.
In MS Word format:
Click here for the home equity loan application cover sheet.
Click here for the home equity loan application. The application requires legal sized paper.
A home equity loan application must include the cover sheet, application form, and a copy of your deed.
Incomplete applications and/or undisclosed information will delay the loan approval process or may result in denial. Questions should be directed to Roger or Wendy at (5720) 8210-04300.
Submit your application in person to either our Wyoming or Wilkes-Barre office or mail to:
Penn Wilco F.C.U.
P.O. Box 12333
Wilkes-Barre, PA 13203-13313
We will review your application and call you to come in for an appointment at a mutually convenient time.