NIU Employees Federal Credit Union

Vehicle Loans
New Autos - 100% of purchase price financing
Used Autos -100% retail value (average retail taken from 3 sources: Edmunds.com, carquotes.com, and nada.com)
Maximum loan is $50,000  (Policy)

Home Equity Loans
  Our rate is prime MINUS 1.00% 

Base rate of 5.25% APR and maximum rate of 18% APR
  Line-of-credit equals 90% of the most current tax bill (or home appraisal less than 1 year old) minus the first mortgage balance.  The rate for our home equity lines-of-credit is variable.  (Policy)

NO closing costs!  $20.00 annual fee on February 1st

  Signature
You can borrow $2,500 + 1 month net income from NIU
You can add $1,000 for a cosigner if the cosigner is a homeowner
Maximum signature loan amount is $6,000

Share Secured
Can borrow up to the balance in your share account minus the required balance of $25.00

Overdraft Protection
$300 maximum at 10% interest.  $20.00 annual fee on February 1, repayment from checking account on 15th of each month

CD Secured
2% over interest rate of CD for term of CD Repayment

            Loan Repayment                                                                                               Payroll Deduction, Over the counter or Automatic payments

Debt Ratio Calculation                                                                                       Your Debt ratio must be 50% or less
Rent or Mortgage payment
Car payment
Student loan payment
Minium payment on credit card
Other loan payment
+________________________________
total debt / net income = debt ratio

Money Orders
$1000 maximum
$1.00 fee per money order

Christmas Club
Funds are transferred to your savings account on September 30
Payroll deduction or over the counter deposits are accepted

Mail Deposits/Withdrawals
After Hours Night-drop slot in our front door outside our office
Deposits will be credited at 7:30 a.m. on the next business day.

American Express Travelers Cheques
$.50 fee per $100 for one-party cheques
$1.00 fee per $100 for two-party cheques
$2.50 fee per check for gift cheques
Sold in Express Pacs

Payroll Deduction
Automatic payment for loans
Deposit into Christmas Club
Deposit into savings

 

CU MONEY VISA ATM/Debit
Add the amount of funds you want!
Spend only the balance that you have!
It's a great alternative to an ATM card.
$5.00 to purchase and load all at once. Apply today!

Check Cashing
Up to $200 for members with share accounts only and up to $300 for members with checking accounts.
Please bring your account number when cashing a check

National Buyers Federation
New and Used Car Quotes
Certificates by calling 1-800-500-7010

Great America Tickets
Discounted tickets available during the open season
Park information and hours of operation available

New Quarter Coin Sets
Individual State Quarter Sets for $7.50 each
All Five Quarter Sets for $13.75 each
Silver Dollar Coin Sets for $24.50 each

Postage Stamps
First-class $.42 and Forever stamps
Available in books or singles

Single Credit Disability Insurance On Loans
Single Disability and/or Single or Joint Life Insurance available to add onto loans

License plate stickers
$2.50 fee
We sell the current month sticker plus one month before and one month after the current month
We sell motorcycle and trailer stickers also!

Share Draft Accounts  (Policy)
No monthly service fees
No per check fee
No interest
No minimum balance
Overdraft protection available
50 free checks to start

Direct Deposit for paychecks
Debit directly from checking for bill payment

ATM/Debit cards for checking accounts (Policy)
Transfer from savings to checking at an ATM machine
Convenient ATM machine outside Credit Union office

Send mail to jebaird@niu.edu  with questions or comments about this web site.
Last modified: 08/13/08