Credit Union Expands High Beacon Signature Offering Virginia Lyons July 30, 2012 The St. Thomas Employee Federal Credit Union has expanded its High Beacon Signature Loan special. A Beacon score is the credit score assigned by Equifax, the company that provides credit reports for the credit union. The original offering of up to $5,000 for up to five years at a rate of 8 percent is now open to anyone with a Beacon score of 700 to 799. Originally a score of 750 was required. In addition, the rate has been decreased to 6 percent for anyone with a Beacon score of 800 or more. The limit remains at $5,000 for up to five years. The credit union also offers a regular signature loan with a limit of $3,000, a term of three years and a rate based on credit score. The base rate is 12 percent, but that will be discounted for anyone with acceptable credit history. This loan can be combined with the signature special for qualified borrowers, making it possible to borrow up to $8,000 on signature alone. New loans cannot be used to pay off current loans at the credit union. To see all credit union loan rates, including its High Beacon vehicle specials and its “Let’s Make a Deal” vehicle special, visit the credit union website.