Loan Products


Personal Line of Credit

Our Personal Line of Credit is an unsecured line of credit that is good for two years from the date of approval. Once approved, you can
make advances up to your limit. The loan maximum is $10,000, however, the amount actually approved can vary based upon what you
qualify for. The loan payment amount is $25 per $1,000 borrowed. So, for example, if you borrowed $5,000, the minimum payment would
be $250 at an annual percentage rate of 12.0%. If you did not make any more advances on the original borrowed principal of $5,000, then
this loan would be paid off in approximately 4 years and 4 months. Obviously, if you paid more than the required monthly amount, the
duration of the loan would decrease. Likewise, the amount of interest would decrease also be the daily interest rate is applied to the
outstanding balance. Personal Lines of Credit could be used to pay down higher interest credit cards or used to meet your short term
lending needs.

New Car Loans

Our New Car loans are for new vehicles that have not been previously titled. Upon qualification, the price of the car determines the
maximum term. If the amount of the purchase order from the dealer is less $25,000 or less, the maximum term that we offer is 60
months, or 5 years. If the dealer invoice is greater than $25,000, then the maximum term that we offer is 84 months, or 7 years.
Regardless of the term, the interest is as follows:

If you place 10% of the dealer invoice as a down payment (90%) financing, then the interest rate is 4.5% Annual Percentage Rate.

If you place 5% of the dealer invoice as a down payment (95%) financing, then the interest rate is 5.95% Annual Percentage Rate.

If you do not place anything as a down payment, (100%) financing, then the interest rate is 6.5% Annual Percentage Rate

Used Car Loans

Our used car loans are for either the purchase of a used vehicle or the refinance of a currently owned used vehicle from another lender.
 
Used Vehicle Purchase
Upon qualification, the age of the car determines the term of the loan. If the vehicle is up to 3 years old, the maximum term would be 5
years. If the age of the vehicle is 4-5 years old, the maximum term of the loan would be 4 years. Vehicles older that 5 years would have to
be financed as a personal loan and the vehicle would be held as collateral if needed to further secure the loan. The interest rate would be
7.0% Annual Percentage Rate regardless of the loan term. We will finance up to the Retail Kelly Blue Book Value.

Vehicle Refinance From Another Lender
Upon qualification, the same rules as a used vehicle purchase applies, however, the interest rate is 8.5% Annual Percentage Rate.

Share Secured Loans

Share Secured loans are loans secured by the shares in your account, which will be "frozen" up to the balance of your
loan. As your loan is paid down, the amount secured in your share account is reduced to match the balance on your
loan. This type of loan is an excellent way to establish your credit history or obtain a loan if you have bad credit. This
type of loan does not require an income or employment verification, as well as a debt ratio analysis. The maximum
amount of the loan is the amount that you can secure in your savings account. The current interest rate is a 4.0%
Annual Percentage Rate. Keep in mind that your shares are earning interest all the while that it is being "frozen".

Home Equity Lines of Credit

Our Home Equity Line of Credit allows you draw as you need over a 5 year period up to an approved amount based on qualification. Use
the equity in your home to finance home improvements, your children's college expenses, or any other purchase that may arise. Important
things to know before you apply is that our maximum loan amount is $150,000 with a repayment of $9 per month per $1,000 borrowed.
Your home must be owner occupied and must be located in the state of Hawaii. The Loan to Value ratio that we use is 80%. We will also
pay for the costs to originate your Home Equity Line of Credit for the first time only, once per household. To show the value of your home,
we will accept your most recent tax assessment card, however, if you would like an appraisal, that cost would be your responsibility. The
interest rate is a variable interest rate that may be adjusted annually, tied to an index. For more information, please call one of our
Member Service Representatives.
Waialua Federal Credit Union
                      Serving Oahu's North Shore