Products

As a member of Allegan Community Federal Credit Union, you have access to our financial products including savings, low rate loans, checking accounts, and convenient access to your funds with ATM cards and shared service center.

SHARE SAVINGS AND CLUB ACCOUNTS

Our Regular share savings account is the basic savings account when you join the credit union. The minimum balance required is $5.00. This $5.00 remains in your account at all times in order to continue your membership. Our Club accounts include: Money Market, Diamond, IRA, Golden, Vacation, Christmas, and Moola-Moola.

SHARE DRAFT (Checking) ACCOUNTS

Our Share Draft accounts are very popular with members because they are so convenient (checks with carbon copies) and affordable (no per-check charge).

We offer Home Mortgages in addition to Home Equity Loans.

For rates and terms on Home Equity Loans call 269-673-3976.

HOME EQUITY LOANS

Call 269-673-3976 to apply today!

ALLEGAN COMMUNITY FEDERAL CREDIT UNION WILL OFFER FIXED RATE HOME EQUITY LOANS TO QUALIFIED BORROWERS. THE TERMS AND CONDITIONS OF THE HOME EQUITY LOANS WILL BE CONSISTENT WITH THE MEMBER'S ABILITY AND QUALIFICATIONS TO REPAY THE LOAN. HOME EQUITY LOANS SHALL BE LIMITED TO THE MEMBERSHIP CHARTER INCLUDED IN THE ALLEGAN COMMUNITY FEDERAL CREDIT UNION FIELD OF MEMBERSHIP.

FIXED INTEREST RATE: 7.50%*

Length of Repayment:

Shall be a five-year balloon note with maximum amortization of 180 months.

Fees and Charges:

The member will be responsible for all fees, services, & costs incurred during the processing of the loans and/or due for the completion of the loan.

Minimum to Maximum:

Minimum loan amount $ 5,000.00

Maximum loan amount $100,000.00

Loan to Value Ratios:

Home equity loans will have a loan to value ratio up to 80% of the property value less the First mortgage balance and any other encumbrances.

Tax and Insurance:

All property taxes must be paid current and homeowners insurance enforced.

Forms:

Home equity loans will meet current Federal, State, and The ACFCU requirements.

Approval:

Home equity loans may be approved by a qualified loan officer in conjunction with the credit committee.

Effective Date:

April 1, 2002

*Annual Percentage Rate