Loans

Loans Overview
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The Lancaster Postal Employees Federal Credit Union is dedicated to granting extensions of credit to members regardless of race, color, religion, national origin, sex, marital status, age (provided the applicant is 18 years of age and has the legal authority to enter into a binding contract), receipt of public assistance income or income from a separate maintenance agreement and whether the member has in good faith exercised rights under the Consumer Credit Protection Act.

Click a link to read more about the following loan programs:
Auto Loans Personal-Signature Line of Credit Home Equity Share Secured

NEW VEHICLE LOANS:
Any vehicle that has not been previously titled. These may include cars, trucks, motorcycles,and vans (including conversion vans). We will finance up to 100% of the NADA value of the vehicle.

USED VEHICLE LOANS:
Any vehicle that has been previously titled. These may include cars, trucks, motorcycles, and vans (including conversion vans). We will finance up to 100% of the NADA retail value of any vehicle up to six (6) years old.

Repayment Terms - We will try to provide the member with reasonable, afforable payments provided it is in the best interest of both the credit union and the member
Disability, Life and GAP insurance are available on all vehicle loans
Most loans are approved within 24 hours
The credit union is a reporting member of the Credit Bureau
Policies and rates are subject to change without notice
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CLOSED END SIGNATURE LOAN:
Closed end loan secured by the member's signature not requiring additional collateral.
We will try to provide the member with reasonable, afforable payments provided it is in the best interest of both the credit union and the member.

Minimum loan amount is $500
Maximum loan amount is $15,000
Most loans are approved within 24 hours
Disability and Life insurance are available on all signature loans
The credit union is a reporting member of the Credit Bureau
Policies and rates are subject to change without notice
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UNSECURED SIGNATURE LINE OF CREDIT:
A revolving loan secured by the member's signature with a variable interest rate.
We will try to provide the member with reasonable, afforable payments provided it is in the best interest of both the credit union and the member.

Minimum loan is $500
Minimum advance is $200
Maximum loan amount is $15,000
Disability and Life insurance are available on all signature line of credit loans
Most loans are approved with in 24 hours
The credit union is a reporting member of the Credit Bureau
Policies and rates are subject to change without notice
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HOME EQUITY:

Home Equity Line of Credit:
A revolving loan with a variable interest rate that uses your home as collateral. LPECU will finance up to 80% loan-to-value, based on the appraised value of your home. We will try to provide the member with reasonable, afforable payments provided it is in the best interest of both the credit union and the member.

Minimum advance is $500
Must be member's primary residence
Loan limit is based on the property value less any existing liens
No more than twelve advances may be taken in a calendar year
Home owners insurance is required, listing the credit union as the lienholder
Disability and Life insurance are available on all home equity lines of credit
Subsequent advances require a minimum of 1 hour notice
The credit union is a reporting member of the Credit Bureau
Policies and rates are subject to change without notice

Closed End Home Equity Loan:

A fixed rate loan that uses your home as collateral. LPECU will finance up to 80% loan-to-value, based on the appraised value of your home. We will try to provide the member with reasonable, affordable payments provided it is in the best interest of both the credit union and the member.

Must be member's primary residence
Loan limit is based on the property value less any existing liens
Home owners insurance is required, listing the credit union as the lienholder
Disability and Life insurance are available on all home equity lines of credit
The credit union is a reporting member of the Credit Bureau
Policies and rates are subject to change without notice

SHARE SECURED LOAN:
A member's shares are used as collateral for the amount of the loan. Any member can pledge shares as collateral for another credit union member. Maximum loan amount is limited to the amount held in an individual share account. We will try to provide the member with reasonable, affordable payments provided it is in the best interest of both the credit union and the member.

Minimum loan amount is $500
Disability and Life insurance are available on all share secured loans
Policy and rates are subject to change without notice
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