Serving members worldwide since 1935.
Lending Rates
- Autos & Motorcycles
- Mastercard Credit Card
- Personal Loans
- Boat & RV Loans
Whatever your funding needs, your credit union can help. For Mortgages rates, please visit our Mortgage CenterOpens in New Window, and for Home Equity rates, please see our Home Equity lending products.
Enjoy low rates, flexible terms, fast approvals and exceptional member service — apply for your loan today!
Visit our Mortgage CenterOpens in New Window for First Mortgage and Home Equity Loan terms and rates.
Effective Jan 1, 2021
| Term | New Auto APR* | Used Auto APR* |
|---|---|---|
| 36 Months | 2.375% | 2.375† |
| 48 Months | 2.375% | 2.375%† |
| 60 Months | 2.875% | 2.875%† |
| 72 Months | 2.875% | 2.875%† |
| 84 Months** | 3.625% | 3.625%†† |
*APR = Annual Percentage Rate. Stated APR is the lowest rate available for qualified members and reflects 0.25% discount for Direct Deposit and automatic debit of loan payment from Checking Account with Lafayette Federal and 0.125% discount for qualified fuel efficient vehicle. Actual rate may be higher based on income, credit worthiness, and loan to value. **$25‚000 minimum loan amount required for vehicle loan of 73 to 84 months. Add 2.00% to above pricing for all overseas vehicle loans. †Financing available for model years 2014-2021. ††Financing available for model years 2018-2021.
Effective Jan 1, 2021
| Charges & Fees | Terms |
|---|---|
| Purchase, Balance Transfer and Cash Advance APR* | 9.65%-18.00% When you open your account, determined by your credit worthiness.1 After that, APR will vary with the market based on the Prime Rate and a margin determined by credit history. |
| How to Avoid Paying Interest on Purchases | LFCU allows you 25 days to make a payment for charges of merchandise and/or services. When the billing cycle beginning balance is $0.00 you avoid paying interest. |
| Minimum Finance Charge | There will be up to a $1.00 minimum finance charge assessed. |
| For Credit Card Tips from the Consumer Financial Protection Bureau | To learn more about factors to consider when applying for or using a credit card, visit the website of the Consumer Financial Protection Bureau at: http://www.consumerfinance.gov/learnmore |
| Annual Fee | None. |
| Balance Transfer Fee | 3% of each balance transferred, or $30.00, whichever is greater. |
| Cash Advance Fee | Either $2.00 or 2% of the amount of each cash advance, whichever is greater. |
| Foreign Transaction Fee | None. |
| Late Payment Fee | Up to $25.00 |
| Over the Credit Limit Fee | None. |
| Returned Payment Fee | Up to $25.00 will be assessed and added to your balance if the minimum payment is not received within 5 days following the payment due date. |
| Card Replacement Fee | Up to $5.00 |
| Balance Computation Method | Average Daily Balance |
1 Variable Rate Information: APR=Annual Percentage Rate. Your APR may vary. Your rate is determined by adding a Margin (initially determined based on an evaluation of each member’s credit score, economic conditions and other risk factors) to the highest Prime Rate published in the Wall Street Journal on the first business day of the current month, and the rate will then adjust monthly (on the first day of your billing cycle), according to monthly increases or decreases in the Wall Street Journal Prime Rate. The APR will not be more than 18.00%, regardless of the Wall Street Journal Prime Rate. The margin applicable to your account is subject to review every 6 months. After a period of 12 months from card issuance, we may increase or decrease the margin applicable to your account based upon changes in your credit history. We will notify you in accordance with applicable law before we apply any margin increase to your account. The margins will range from 4.90%-13.90% as described in paragraph 5 of your Lafayette Credit Union Platinum Mastercard Credit Card Terms and Conditions.
Effective Jan 1, 2021
| Type | APR* | Term | Amount |
|---|---|---|---|
| Share Secured | Dividend Rate +2.00% | Up to 15 years | Up to Share Balance*** |
| Credit Builder | Dividend Rate +3.00% | Up to 7 years | Up to $5‚000 |
| Certificate Secured | Dividend Rate +2.00% | Up to Certificate maturity date | Up to Certificate Balance |
| Line of Credit** | 9.99% | Revolving† | $500 - $30,000 |
| Signature** | 7.99% | Up to 84 months | $500 - $50,000 |
*APR=Annual Percentage Rate. Rates and terms subject to change without notice. Stated APR is the lowest rate available for qualified members. Actual rate may be higher based on income, credit worthiness, and extended loan terms. **APR reflects 0.25% discount for automatic payment made from member’s LFCU account and established qualified direct deposit into member's LFCU checking account. ***Share Secured APR based on dividend tier at time of origination and is adjusted with dividend rate. †Monthly minimum payment is $30 per $1,000 borrowed.
Effective Jan 1, 2021
| APR* as low as | Term | Amount (up to 75% Purchase Price or Value) |
|---|---|---|
| 4.50% | Up to 5 Years | $5,000 to $20,000 |
| 4.50% | Up to 10 Years | $20,001+ to $75,000 |
| 5.00%** | Up to 15 Years | $75,001+ to $150,000 |
| 5.00%** | Up to 15 Years | $150,001 to $350,000 |
| 5.00%*** | Up to 20 Years | $150,001 to $350,000 (restricted to house boats and RVs) |
*APR=Annual Percentage Rate. Restrictions apply. May not be used in conjunction with other offers or promotions. Stated APR is the lowest rate available for qualified members and reflects 0.25% discount for Direct Deposit and automatic debit of loan payment from Checking Account with Lafayette Federal. Actual rate may be higher based on income, credit worthiness, and loan to value. Loan amount up to 75% of purchase price, up to $150,000. Vehicles for personal, non-business use only.**Loan to Value maximum to 75% for loan amounts over $150,000. ***Term of 20 yrs. limited to loan amounts above $150,000 and only available for financing "house boats” and RVs used as primary residences as defined by the IRS and NCUA.
New Motorcycle Loans
Effective Jan 1, 2021
| Term | APR* |
|---|---|
| 36 Months | 6.25% |
| 48 Months | 6.75% |
| 60 Months | 7.25% |
*APR=Annual Percentage Rate. Stated APR is the lowest rate available for qualified members and reflects 0.25% discount for Direct Deposit and automatic debit of loan payment from Checking Account with Lafayette Federal. Actual rate may be higher based on income, credit worthiness, and loan to value.
2021 Cost of FundsRounded up to the nearest quarter percent. | ||
Month | Rate | |
|---|---|---|
| January | 1.50% | |
| February | 1.50% | |
| March | ||
| April | ||
| May | ||
| June | ||
| July | ||
| August | ||
| September | ||
| October | ||
| November | ||
| December | ||
Historical Cost of FundsRounded up to the nearest quarter percent. | |||||
Month | 2016 | 2017 | 2018 | 2019 | 2020 |
|---|---|---|---|---|---|
| January | 0.75% | 0.75% | 0.75% | 1.25% | 1.50% |
| February | 0.75% | 0.50% | 0.75% | 1.25% | 1.50% |
| March | 0.75% | 0.50% | 0.75% | 1.25% | 1.50% |
| April | 0.50% | 0.50% | 0.75% | 1.25% | 1.50% |
| May | 0.50% | 0.50% | 0.75% | 1.25% | 1.50% |
| June | 0.50% | 0.75% | 0.75% | 1.25% | 1.50% |
| July | 0.50% | 0.75% | 0.75% | 1.25% | 1.50% |
| August | 0.50% | 0.75% | 0.75% | 1.25% | 1.50% |
| September | 0.50% | 0.75% | 0.75% | 1.25% | 1.50% |
| October | 0.50% | 0.75% | 1.00% | 1.25% | 1.50% |
| November | 0.50% | 0.75% | 1.25% | 1.50% | 1.50% |
| December | 0.50% | 0.75% | 1.25% | 1.50% | 1.50% |
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