Need to Borrow? Consider the Credit Union’s loan offerings. St. Thomas Newsroom October 3, 2011 The St. Thomas Employee Federal Credit Union has money to lend to qualified members. Do you have good credit? If so, you may qualify for one of the High Beacon Special loans currently being offered. Are you thinking of purchasing a hybrid vehicle? Take a look at the Hybrid Special offer. Current Specials are: A High Beacon Signature Loan of up to $5,000 at 8 percent for a term of five years. To qualify for this loan, a CU member must have a Beacon score (the Equifax credit scoring number) of 750 or higher. This loan can be used for anything and is available in addition to the CU’s regular signature and Santa loans. A two-tiered High Beacon Vehicle Special on vehicle loans for members with Beacon scores of either 700 to 799, or 800 and above. Vehicles include cars, trucks or motorcycles, 2005 or newer. The advertized rates are 3 percent for five years for a member with a score of 800 or higher, and 3.5 percent for five years for a member with a score of 700 to 799. Each of these rates can be adjusted up by .25 percent for a six-year loan for a new vehicle only, or down by .25 percent per year for each year less in term. If a vehicle is older than a 2005, 3 percent will be added to any of the special rates, and the maximum term is four years. A Hybrid Special for any hybrid vehicle: 1 percent will be deducted from any vehicle rate, regular or special, for a loan for the purchase of a hybrid vehicle. With a CU member’s authorization, the Credit Union will be happy to run your credit report. Even if you don’t qualify for the special rates, you may still want to take advantage of the regular rates being offered by the CU on signature, share secured, and vehicle loans. There is a maximum cumulative loan limit of $40,000 per member at any one time. The CU must follow lending guidelines of the National Credit Union Administration and is responsible to all of its members to lend prudently For more information, go to the Credit Union website.