Check out the NEW
AutoSMART center
 
Apply for a loan
 
 
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Apply for a loan
View Auto Loan Rates
Guaranteed Auto Protection

 
Financial Caluclators
Calculate a Vehicle Loan Payment
Should I take a rebate or low cost financing?
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Should I lease or purchase a car
 
Used Cars and Trucks

 
 
 

 
 
 
 
 
 
Apply for a loan
View Boat & RV Rates
Check Used Boat Retail Values
Check Used RV Retail Values
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Apply for a loan
View Personal Loan Rates
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Apply for a loan
View Education &
Computer Loan Rates
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Apply for a loan
View Motorcycle Loan Rates
Check used motorcycle values
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Call the office to apply for
a share or certificate loan
(410) 687-5240 or (800) 410-0501
View Share & Certificate Loan Rates
 
 
 
 
 
 
 
 
Apply for a loan
View Rediline Checking
Overdraft Loan Rates
 
 

General Information

  • Our loan rates are very competitive, especially for those with good credit.
    You may apply by phone during regular business hours, through our "Secure Loan Application" , by fax or in person. Wage verification is not required for those with good, established credit.
  • Consumer loan applications that meet our lending requirements are typically approved in less than 60 minutes.
  • Credit pre-approval is available to vehicle shoppers, eliminating the hassle of arranging last minute financing. For dealer purchases, you may complete your purchase with an Autodraft, a pre-approved check given to you by the Credit Union which you complete and give to the dealer.
  • New consumer loans are disbursed by Federal Express (at no charge!) or in person.
  • Repay your loan through convenient payroll deductions (from any employer), automatic transfer from a LMFCU account, or through the mail. Auto, truck, boat, RV and personal loans receive a .25% rate discount for automatic repayment.
  • Apply for a vehicle, boat, RV, motorcycle or personal loan online and you'll receive a 0.10% interest rate discount (subject to our minimum rates).

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New Auto & Truck Loans

A LM Federal New Auto or Truck Loan can be used to finance a new car or truck, or to refinance a new car or truck purchased within the last six months (models 2013 & 2014). Rates, down payment and terms vary depending on past credit history. Repayment terms of up to 84 months are available, depending on your credit and the vehicle cost. Loans with 0% down are available to those with good credit. Rate discounts are available for larger down payments and shorter repayment terms. Credit pre-approval is available to vehicle shoppers, eliminating the hassle of arranging last minute financing. For dealer purchases, you may complete your purchase with an Autodraft, a pre-approved check given to you by the Credit Union which you complete and give to the dealer. If you apply for a loan online you will receive a 0.10% interest rate discount (subject to our minimum rates).

Don't forget auto Insurance with MEMBERS® Insurance

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Used Auto & Truck Loans      

Vehicles through the 2006 model year may be financed (from a dealer or private party) or refinanced with a Used Auto or Truck Loan. Loans for vehicles back through the 2001 model year are available for those with good credit, provided the vehicle has a value of $5,000 or greater. Repayment terms up to 72 months are available, depending on your credit, the vehicle value and mileage. Loans with 0% down are available to those with a good credit history. Rate discounts are available for larger down payments and shorter repayment terms. Credit pre-approval is available to vehicle shoppers, eliminating the hassle of arranging last minute financing. For dealer purchases, you may complete your purchase with an Autodraft, a pre-approved check given to you by the Credit Union which you complete and give to the dealer. If you apply online you will receive a 0.10% interest rate discount (subject to our minimum rates).
Thinking of purchasing a used vehicle? Use CarFax to make it a smart purchase!Discounted reports available by speaking to a loan specialist.  PLUS, We'll refund the fee of up to 3 reports if you finance a vehicle with us!

Don't forget auto Insurance with MEMBERS® Insurance

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Boat, Personal Watercraft & Recreational Vehicle (RV) Loans

Boat and Recreational Vehicle Loans can be used to finance the purchase or refinance of a new or used boat, motor home, travel trailer (standard or 5th wheel) or camper. Boats of any age are eligible; a hull survey or inspection may be required. Personal watercraft (jet skis, waverunners) are also eligible if they are titled. Boats may be titled in your state of residence or documented with the U.S. Coast Guard. RVs up to 8 years old are eligible. Repayment terms to 15 years are available (depending on value). A minimum of 10% down payment in cash or valid trade-in credit is required (depending on credit). The maximum loan available is $100,000. Additional rate discounts are available for larger down payments and shorter repayment terms. You may apply for credit pre-approval, eliminating the hassle of arranging last minute financing. Loan pre-approval requests are processed within 24 hours. If you apply online you will receive a 0.10% rate discount (subject to our minimum rates). Call the Credit Union and speak to a loan representative to get a value on a used boat, RV or personal watercraft or click on the appropriate link to the right.

Insure your boat, personal watercraft, or recreational vehicle with MEMBERS® Insurance

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Personal And Home Improvement Loans

These fixed-rate, unsecured loans are designed for members with good or even less than perfect credit histories. You may take a personal loan for any of the following purposes:

  • Payoff high rate loans or credit cards
  • Perform home improvements or repairs
  • Pay for vacation expenses
  • Repair or upgrade your vehicle
  • Any other purpose

Those with good credit and finances will receive our lowest interest rate, but loans are also available to those with little or no established credit history. The maximum loan may be as high as 17% of your annual income, based on your credit. The maximum loan available is $20,000; the minimum loan required is only $300. Repayment terms of up to 4 1/2 years are available (depending on the loan amount). There are no pre-payment penalties. If you apply online you will receive a 0.10% rate discount (subject to our minimum rates).

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Education & Computer Loans 

We offer short-term Education and Computer loans.

  • Rates as low as 7.99% APR, 1% lower than our regular rates
  • Maximum loan of up to $3,000, minimum loan $500.
  • Repayment terms up to 18-months
  • ¼% rate discount for automatic payment
  • Repay by convenient payroll deductions, automatic account transfer, or by mail

To qualify for this special loan, you must use the proceeds for one of the following:

  • Payment for grade/middle/high school, trade school or college courses or expenses including tuition, books, miscellaneous school supplies & registration fees.
  • Purchase of a desktop or laptop computer, iPad, E– book reader, or other peripheral (excluding phones & game consoles).

APR = annual percentage rate. Restrictions apply. Provide something in writing to confirm the purpose of the loan (such as a school bill, ad for a computer item, etc.) Funds are given directly to you.


Motorcycle Loans

Purchase or refinance a new or used motorcycle (up to 10 years old, currently back through the 2004 model year) with a LM Federal Motorcycle Loan. Repayment terms of up to 66 months are available. Financing for 2004 thru 2008 models is available if the retail value is $6,000 or greater. Loans are available with as little as 10% down payment required for loans to purchase a motorcycle and as much as 95% of retail value for refinance loans (depending on credit). Applicants must have a minimum credit score of 640. Dealer and private party purchases as well as refinances of loans currently with another lender are available. Haven't started looking for a motorcycle? Apply for credit pre-approval and avoid the hassle of arranging last minute financing. If you apply for a motorcycle loan online you will receive a 0.10% rate discount (subject to our minimum rates).

Check out motorcycle insurance with MEMBERS® Insurance

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Share & Certificate Loans

These loan options allow you to borrow against the funds in your credit union Share (Savings) Account or regular Certificate Account. You may borrow up to the available balance of your Share (Savings) Account and up to 95% of the balance of your Certificate Account. The minimum loan is only $500.00. The maximum loan is $100,000.00. No credit check is performed for Share or Certificate Loans.
A share loan is a great way to establish your credit history as the Credit Union reports share loans to the Credit Bureau.
Note: Individual Retirement Accounts may not be used as the basis of a Certificate Loan because of their tax-deferred status.

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Rediline Checking Overdraft Loan

A Rediline Checking Overdraft Loan is an overdraft line of credit that is tied to your LM Federal Checking Account. Funds are advanced in $100 increments and transferred to your Checking Account when an overdraft occurs. The maximum line available is $5,000 and the minimum payment is the greater of $25 or 4% of the end-of-month loan balance. Certain fees may apply. See our fee schedule for details.

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CREDIT REPORTS: Find out more about your score

Knowing what's on your credit report is very important, particularly if you are about to apply for a loan or in some cases even a job. It is important to know what your credit report says about you and the way you handle your financial obligations. You need to know what's on there so any mistakes can be corrected. It can also help you quickly find and prevent actions that may mean an identity take-over.

Don't forget that you are entitled to one free copy of your credit report per year from each credit bureau. Your credit bureau report may be retrieved online and does not contain the FICO credit score. However, it will list any credit inquiries and any accounts opened with your name and social security number and how to dispute any incorrect information. To request your free copy, visit www.annualcreditreport.com or contact each credit bureau at:

Equifax
PO Box 740241
Atlanta, GA 30374
800-685-1111
www.equifax.com

Experian
PO Box 949
Allen, TX 75013
888-397-3742
www.experian.com

Trans Union
760 W. Sproul Rd.
PO Box 390
Springfield, PA 19064
800-888-4213
www.transunion.com

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