The following disclosure applies to all subaccounts except Vacation, Line of Credit, Bill Consolidation,
Christmas, Variable Share Secured and Variable Share Certificate Secured.
The Annual Percentage Rate (APR) you receive will be within the range disclosed above and is based
on your credit worthiness. Please ask us for the rate you qualify for.
Variable Rate Share Certificate Secured:
The Annual Percentage Rate (APR) for advances secured by Share Certificate will be equal to the dividend
rate being paid on the Share Certificate offered as security (index) plus
a margin of 3%. The Share Certificate must be continuously renewed until
the advance has been completely repaid. Failure to renew will result in a
default under this plan. When the Share Certificate is renewed the APR
will change to reflect the new index value and margin. Any increase or
decrease in the APR will affect the number of monthly payments you will
make under the account. Any increase in APR will result in more payments
of the same amount until what you owe has been repaid. The APR and Daily
Periodic Rate (DPR) will be disclosed on the Receipt (Voucher or
Disbursement Receipt) provided at the time of the advance.
Variable Rate Share Secured:
The Annual Percentage Rate (APR) will be the dividend rate being paid on Regular Shares (Index) on the date of the
advance plus a margin of 3%. If there is an existing balance on the date
of the new advance, the existing balance will be added to the new advance
and the entire balance will be at the new APR. The rates are subject to
change each time you obtain a new advance to reflect any change in the
index. Any increase or decrease in the APR will affect the number of
monthly payments you will make under the account. Any increase in the APR
will take the form of more payments of the same amount until what you owe
has been repaid.
Any payments made, in any amount, in addition to the regular payments
paid, will advance the subaccount payment due date. Additional payments
will advance the due date in accordance with the payment amount and
frequency disclosed on the advance voucher. Additional payments made over
and above the regular payments may allow the member to skip payments in
the future (if desired) until the subaccount payment due date is reached.
Interest will continue to accrue on outstanding balances during such
periods where payments are not made.
You agree to pay all costs of collecting the amount you owe under this
Agreement, including court costs and reasonable attorney fees.
If your payment is received more than 10 days after the due date, you will
be charged a late fee of $20.00.