Personal Credit Cards & Loans Rates

Rates Sections

Credit Cards & Personal Loans

Mastercard® Credit Card

Charges & Fees

Terms

¹Variable 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.

The rates and terms shown are effective as of July 1, 2024.

Charges & Fees

Purchase, Balance Transfer and Cash Advance APR1

Terms

13.40%-18.00% When you open your account, determined by your credit worthiness.1After that, APR will vary with the market based on the Prime Rate and a margin determined by credit history. 

Charges & Fees

How to Avoid Paying Interest on Purchases

Terms

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.

Charges & Fees

Minimum Finance Charge

Terms

There will be up to a $1.00 minimum finance charge assessed.

Charges & Fees

For Credit Card Tips from the Consumer Financial Protection Bureau

Terms

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

Charges & Fees

Annual Fee

Terms

None

Charges & Fees

Balance Transfer Fee

Terms

3% of each balance transferred, or $30.00, whichever is greater.

Charges & Fees

Cash Advance Fee

Terms

Either $2.00 or 2% of the amount of each cash advance, whichever is greater.

Charges & Fees

Foreign Transaction Fee

Terms

None

Charges & Fees

Late Payment Fee

Terms

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.

Charges & Fees

Over the Credit Limit Fee

Terms

None

Charges & Fees

Returned Payment Fee

Terms

Up to $25.00

Charges & Fees

Card Replacement Fee

Terms

Up to $5.00

Charges & Fees

Balance Computation Method

Terms

Average Daily Balance

Personal Loans

Type

Term 

APR1

Amount

1APR=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. 2APR reflects 0.25% discount for automatic payment made from member’s LFCU account and established qualified direct deposit into member’s LFCU checking account. Qualified direct deposit is a recurring direct deposit of a paycheck, pension, Social Security or other periodic payment of at least $500 into a checking or savings account on a month-to-month basis made by an outside organization or agency.3Share Secured APR based on dividend tier at time of origination and is adjusted with dividend rate. 4Monthly minimum payment is $30 per $1,000 borrowed.

The rates and terms shown are effective as of July 1, 2024.

Type

Share Secured

Term 

Up to 15 years

APR1

Dividend Rate 2.00%

Amount

Up to Share Balance3

Type

Credit Builder

Term 

Up to 7 years

APR1

Dividend Rate 3.00%

Amount

Up to $5‚000

Type

Certificate Secured

Term 

Up to Certificate maturity date

APR1

Dividend Rate 2.00%

Amount

Up to Certificate Balance

Type

Line of Credit2

Term 

Revolving4

APR1

9.99%

Amount

$500 – $30,000

Type

Signature2

Term 

Up to 7 years

APR1

8.99%

Amount

$500 – $50,000

Home Improvement Loan

Term

APR1

Loan Amounts

¹APR = 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 deposit² into member’s LFCU checking account. ²Qualified direct deposit is a recurring direct deposit of a paycheck, pension, Social Security or other periodic payment of at least $500 into a checking or savings account on a month-to-month basis made by an outside organization or agency. $50 minimum balance required to open and earn 0.10% APY (APY = Annual Percentage Yield) on Lafayette Federal share savings account balances. $5 minimum balance required to open and earn 2.04% APY on LFCU checking account balances up to $25,000 and 0.025% APY on checking balances over $25,000. Your savings are federally insured to at least $250,000 by the National Credit Union Administration, an agency of the U.S. government. Lafayette Federal is an equal opportunity lender.

The rates and terms shown are effective as of July 1, 2024.

Term

5 years

APR1

10.74%

Loan Amounts

Up to $15K

Term

10 years

APR1

10.74%

Loan Amounts

$15.1K to $20K

Term

12 years

APR1

10.74%

Loan Amounts

$20.1K to $30k

Term

15 years

APR1

10.74%

Loan Amounts

$30.1 to $75k