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
Mortgage Loans
LMEFCU is proud to offer our members Federally Secured Mortgage Programs – FHA, VA and Reverse Mortgages. There are several options for members looking to purchase or refinance and receive cash out. 96.5% and 100% financing available.
- FHA and FHA 203K Rehab Loans
- VA – Veteran Loans
- Reverse Mortgages
DO YOU NEED A SPRING AHEAD LOAN?? ARE YOU A MEMBER OF THE CREDIT UNION??
The LMEFCU is accepting applications for “SPRING AHEAD LOANS”
BEGINNING, APRIL 1, 2018 TO JUNE 30, 2018.
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
Not a member?? No problem! If you are an employee of the City of Lowell/School Department for at least 60 days you are eligible to become a member and apply for a loan. We are located at City Hall, Room 11.
Max. Loan Amount: $2500.00
Payment Period: 52 weeks
Credit score 650 and above – 6.00% APR*
Credit score 600-649 – 7.00% APR*
Credit Score 500-599 – 8.00% APR* (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.
*APR = Annual Percentage Rate
Loan Rates
| Tier |  |
Model Yrs | Term | Credit | Debt Ratio | Max | Interest Rate |
|---|---|---|---|---|---|---|---|
| 1 | 2016-2017 | 1-5 Years | 700-850 | 42.00% | $50,000.00 | 1.85% APR* | |
| 2 | 2016-2017 | 1-5 Years | 600-699 | 38.00% | $32,000.00 | 2.49% APR* | |
| 3† | 2016-2017 | 1-5 Years | 500-599 | 30.00% | $22,000.00 | 3.49% APR* | |
| 1 | Any Year- | 1-5 Years | 700-850 | 42.00% | $30,000.00 | 1.99% APR* | |
| 2 | Any Year- | 1-5 Years | 600-699 | 38.00% | $20,000.00 | 2.69% APR* | |
| 3† | Any Year- | 1-5 Years | 500-599 | 30.00% | $15,000.00 | 3.99% 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 | 2.49% APR* |
| 2 | New | 5 | 600-699 | 38.00% | $25,000.00 | 2.99% APR* |
| 3† | New | 5 | 500-599 | 30.00% | $15,000.00 | 4.49% APR* |
| 1 | Used | 5 | 700-850 | 42.00% | $40,000.00 | 2.99% APR* |
| 2 | Used | 5 | 600-699 | 38.00% | $20,000.00 | 3.49% APR* |
| 3† | Used | 5 | 500-599 | 30.00% | $12,000.00 | 3.99% 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* |
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.
LMEFCU’s Verified by Visa
Verified by Visa is the easy new way to enjoy added security for all your online Visa card purchases.
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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