We’re Here For You

LOWELL MUNICIPAL EMPLOYEES FEDERAL CREDIT UNION

DO YOU NEED A VACATION LOAN??

ARE YOU A MEMBER OF THE CREDIT UNION??

The LMEFCU will be accepting applications for

“VACATION LOANS”

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):   $3,000.00

CREDIT SCORE:      PMT PERIOD:        INTEREST RATE:     MAX. AMT.:      

  650 OR MORE        52 WEEKS                   9%               $3,000.00

     600-649                    52 WEEKS                   10%               $2,500.00  

     *500-599                    52 WEEKS                   11%               $2,000.00    

  (*REQUIRES A CO-BORROWER WITH A SCORE OF 650 OR HIGHER)

                                        The present credit union policy allows for only 2 unsecured loans at any point in time.

      Credit union hours 8:30am – 4:00pm M-TH, FRI-8:30-12:00

NEWS & INFORMATION

City Hall building is open to the public.
You can reach the Credit Union at
(978) 970-4088 during the following hours.

Business hours of the credit union as of August 1, 2022


Sunday
Closed
Monday
8:30 AM
4:00 PM
Tuesday
8:30 AM
4:00 PM
Wednesday
8:30 AM
4:00 PM
Thursday
8:30 AM
4:00 PM
Friday
8:30 AM
12:00 PM
Saturday
Closed
Holidays
Closed


AUTO LOANS

NEW VEHICLES

Cond.
Model Yrs
Term
*APR
Per/$1000
Tier
Credit Score
Debt Ratio
MAX
New
2021 – 2023
year(‘s)
5.5 %
$
1
700-850
42 %
$ 100,000
New
2021 – 2023
year(‘s)
6.25 %
$
2
600-699
38 %
$ 100,000
New
2021 – 2023
year(‘s)
6.5 %
$
3
500-599
32 %
$ 100,000

USED VEHICLES

Cond.
Model Yrs
Term
*APR
Per/$1000
Tier
Credit Score
Debt Ratio
MAX
Used
2017 – 2020
year(‘s)
6.1 %
$
1
700-850
42 %
$ 85,000
Used
2017 – 2020
year(‘s)
6.85 %
$
2
600-699
38 %
$ 85,000
Used
2017 – 2020
year(‘s)
7.1 %
$
3
500-599
32 %
$ 85,000

*APR = Annual Percentage Rate, APY = Annual Percentage Yield. Individuals with credit scores of 350-499 are not eligible for consideration.
Tier 3 Co-borrower with at least a 650 or higher credit score and credit committee approval. Per/$1,000 is estimate only and based on maximum loan terms.


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.

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