Credit union offers discounted rates on new vehicle loans before March 31 St. Thomas Newsroom March 5, 2003 Going to the Auto Show? Stop by the St. Thomas Employee Federal Credit Union first, and get pre-approved for a new vehicle loan.The credit union offers discounted rates on all loans for new vehicles (automobiles, trucks or motorcycles) that close on or before March 31, 2003. The discount on the rate will be calculated using the BEACON score of the applicant at the time the credit report is pulled at the credit union: the higher the BEACON, the greater the discount.Example: A BEACON score of 825 would allow the applicant to get a six-year loan at 4.03 percent; that same loan would be written at 4.87 percent for six years for an applicant with a BEACON of 699. For more information about the discount, contact the credit union at (651) 962-6660. Regular new vehicle rates, all of which will be discounted based on the applicant’s credit, are: Six-year — 6 percentFive-year — 5.75 percentFour-year — 5.50 percentThree-year — 5.25 percentTwo-year — 5 percentOne-year — 4.75 percentGet pre-approved before you go vehicle shopping so that you can know in advance exactly what your rate will be, and how much your payments will be. Apply for the maximum you are planning to spend, and then when you actually find a vehicle, the loan can be written for the exact amount of the vehicle. One hundred percent financing is allowed, with a $40,000 cumulative loan limit to any one member. An approved loan application can be held at the credit union and does not need to be funded immediately. Stop by the CU office, Room 132, Christ Child Hall, or call (651) 962-6660 for an application. Applications also should be available in a rack outside the CU office in an area accessible whenever the building is open. Questions? Call (651) 962-6660.