NEWS & INFORMATION
| Business Hours | |
| Monday | 8:30 AM to 4:00 PM |
| Tuesday | 8:30 AM to 4:00 PM |
| Wednesday | 8:30 AM to 4:00 PM |
| Thursday | 8:30 AM to 4:00 PM |
| Friday | 8:30 AM to 12:00 PM |
| Closed Weekends & Holidays |
DEBIT CARDS HAVE BEEN DISCONTINUED
We no longer offer debit cards.
As of May 2017 the debit card service has been discontinued.
Vacation Loans
It’s vacation season! Now is the time to take out a low rate vacation loan. We have vacation loans as low as 9.00% APR*
*APR = Annual Percentage Rate
DO YOU NEED A SPRING AHEAD LOAN?? ARE YOU A MEMBER OF THE CREDIT UNION??
The LMEFCU will be accepting applications for
“SPRING AHEAD LOANS”
BEGINNING, APRIL 1, 2019 TO JUNE 30, 2019.
Loans are approved and interest is determined based on credit scores reported by EQUIFAX. Approval also depends on the amount of monthly debt.
Maximum Loan Amount (Base on Credit Score): $2500.00
CREDIT SCORE: PMT PERIOD: INTEREST RATE: MAX. AMT.:
650 OR MORE 52 WEEKS 6% $2,500.00
600-649 52 WEEKS 7% $2.000.00
500-599 52 WEEKS 8% $1,500.00 (May require co-signor)
Existing SPRING AHEAD Loans: Balance must by paid before new loan proceeds are dispersed.
The present credit union policy allows for only 2 unsecured loans at any point in time.
NOT A MEMBER?? No Problem! If you are an employee of the City of Lowell/Schools for 60 DAYS you are eligible to become a member and apply for a loan. We are located at City Hall Room 11. Hours 8:30am – 4:00pm M-TH, FRI-8:30-12:00.
Loan Rates
| Tier |  |
Model Yrs | Term | Credit | Debt Ratio | Max | Interest Rate |
|---|---|---|---|---|---|---|---|
| 1 | 2019-2020 | 1-5 Years | 700-850 | 42.00% | $50,000.00 | 2.35% APR* | |
| 2 | 2019-2020 | 1-5 Years | 600-699 | 38.00% | $40,000.00 | 2.99% APR* | |
| 3† | 2019-2020 | 1-5 Years | 500-599 | 32.00% | $30,000.00 | 3.99% APR* | |
| 1 | Any Year- | 1-5 Years | 700-850 | 42.00% | $40,000.00 | 2.49% APR* | |
| 2 | Any Year- | 1-5 Years | 600-699 | 38.00% | $30,000.00 | 3.19% APR* | |
| 3† | Any Year- | 1-5 Years | 500-599 | 32.00% | $22,000.00 | 4.49% APR* |
| Tier | Max Years | Credit Score | Debt Ratio | Max Amount | Interest Rate |
|---|---|---|---|---|---|
| 1 | 1 Year | 650-850 | 42.00% | $6,000.00 | 2.50% APR* |
| 2 | 1 Year | 600-699 | 38.00% | $4,000.00 | 2.75% APR* |
| 3† | 1 Year | 500-599 | 32.00% | $2,000.00 | 3.00% APR* |
| Tier | Type | Max Years | Credit Score | Debt Ratio | Max Amount | Interest Rate |
|---|---|---|---|---|---|---|
| 1 | Unsecured | 4 Years | 700-850 | 42.00% | $15,000.00 | 10.00% APR* |
| 2 | Unsecured | 4 Years | 600-699 | 38.00% | $10,000.00 | 11.00% APR* |
| 3† | Unsecured | 4 Years | 500-599 | 32.00% | $5,000.00 | 12.00% APR* |
| Tier |
Condition | Max.Years | Credit Score | Debt Ratio | Max Amount | Interest Rate |
|---|---|---|---|---|---|---|
| 1 | New | 5 | 700-850 | 42.00% | $50,000.00 | 2.99% APR* |
| 2 | New | 5 | 600-699 | 38% | $25,000.00 | 3.49% APR* |
| 5 | New | 5 | 500-599 | 32% | $15,000.00 | 4.99% APR* |
| 1 | Used | 5 | 700-850 | 42.00% | $40,000.00 | 3.49% APR* |
| 2 | Used | 5 | 600-699 | 38% | $20,000.00 | 3.99% APR* |
| 5 | Used | 5 | 500-599 | 32% | $12,000.00 | 4.49% APR* |
| Tier | Max Years | Credit Score | Debt Ratio | Max Amount | Interest Rate |
|---|---|---|---|---|---|
| 1 | 1 Year | 700-850 | 42.00% | $2,500.00 | 9.00% APR* |
| 2 | 1 Year | 600-699 | 38.00% | $2,000.00 | 10.00% APR* |
| 3† | 1 Year | 500-599 | 32.00% | $1,500.00 | 11.00% APR* |
*APR = Annual Percentage Rate, APY = Annual Percentage Yield. Individuals with credit scores of 350-499 are not eligible for consideration.
† Co-borrower with at least a 650 or higher credit score and credit committee approval.
The Smart Option Student Loan
With college costs growing fast, it’s time to borrow smarter. The Smart Option Student Loan® offers three repayment options and competitive interest rates to help you pay for college expenses not covered by scholarships and federal loans.
Your savings are federally insured to at least $250,000 and backed by the full faith and credit of the United States Government. 
Equal Housing Lender
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