Home Page
Financial
Products & Services
Request Information
Whats New
Loan Application
Loan Calculator
Hours & Locations




Privacy Statement
Disclosure Information
Security Statement

 

Financial

The Basics...
All loans require at least 24 hours for approval, provided it does not need to be submitted to Credit Committee. If this is the case Credit Committee meets every Wednesday at 3:00 PM and releases the status of loans on Thursday.



- All vehicle loans are considered secured and require an insurance
   verification.
- Rates for all loans are expressed as APR (Annual Percentage Rate)
- Interest rates are "fixed". The only variable rate loans offered
   by ROME Credit Union are the Home Equity Loans.

  
  

  


Automobile and Motorcycle Loans

YEAR OF VEHICLE ANNUAL PERCENTAGE RATE TERM
2003, 2002, AND 2001 3.9%
4.9%
6.9%
7.5%		 UP TO 36 MONTHS
UP TO 48 MONTHS
UP TO 60 MONTHS
UP TO 72 MONTHS
2000 4.9%
5.9%
6.9%
7.5%		 UP TO 36 MONTHS
UP TO 48 MONTHS
UP TO 60 MONTHS
UP TO 72 MONTHS
1999 6.9%
7.5%
8.4% WITH A $25,000.00 MINIMUM
8.9% IF LESS THAN $25,000.00		 UP TO 48 MONTHS
UP TO 60 MONTHS
UP TO 72 MONTHS
UP TO 72 MONTHS
1998 6.9%
7.5%		 UP TO 48 MONTHS
UP TO 60 MONTHS
1997 7.5%
8.5% WITH A $14,000.00 MINIMUM		 UP TO 48 MONTHS
UP TO 60 MONTHS
1996 AND OLDER 7.9%
8.9% WITH A $12,000.00 MINIMUM		 UP TO 48 MONTHS
UP TO 60 MONTHS
NEW VEHICLE LEASES 5.9%
6.4%		 UP TO 36 MONTHS
UP TO 48 MONTHS

Mobile Home, Boat, Camper, and Trailer Loans
Each of the following has a maximum time limit of 10 years.
-Mobile Homes older that 1995 require an appraisal, the cost of which is to be paid by the member.
-Boats older than 1995 and longer than 16 feet require a marine survey, the cost of which is to be paid by the member.

2000 and 2001 Models 7.9%
1999 8.9%
1998 9.9%
1997 10.9%
1996 and older 10.9%

Unsecured, Home Improvement, and Special Loans
The maximum amount received through loans as a maker or a co-maker is $40,000.00. Of which, $10,000.00 may be unsecured. This policy excludes VISA loans, which are considered and approved seperately and may be as high as $5,000.00.

Home improvement loans are considered unsecured, with an interest rate of 11.9% and a maximum time limit of 48 months. The maximum amount that can be borrowed is $10,000.00.

Other unsecured loans, such as closed end and revolving credit loans, have a 14.9% interest rate and a maximum time limit of 36 months. the maximum amount that can be borrowed is $10,000.00.

We currently offer a special unsecured promotion of a $2,400.00 unsecured loan at an interest rate of 11.0% for a maximum time limit of 18 months.



This credit union is federally insured by the National Credit Union Administration.
Accounts and shares of members are insured by the Administration to the maximum of $100,000 for each member or shareholder.



Rome Credit Union
1709 Crooks Rd.
Royal Oak, Michigan 48067
248.548.2300
FAX: 248.548.5708
romecu@aol.com