Loans

One of the most important benefits of membership is access to affordable credit services. Whether you need to consolidate bills, buy a car or finance the home of your dreams, consider Hudson River Teachers FCU for all of your financing needs. We offer competitive rates, flexible terms and an expert staff ready to assist you with personal service and a quick approval.

Vehicle
Finance your car, truck, motorcycle or boat with Hudson River Teachers FCU and take advantage of our low fixed rates and hassle-free financing. Whether you’re hitting the road or the water, we have the right loan for you.  And to make things easier, why not call us first and get pre-approved before you shop. You’ll have one less thing to worry about when you find the exact car you want saving you time and money at the dealership.

Love your current vehicle but not the loan? Refinance with HRTFCU and save! You could be lowering your rate and monthly payment putting more money in your pocket!

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Auto
As a member of HRTFCU, you can take advantage of our new, used, or classic auto loans with these great terms:

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Boat
Let HRTFCU steer you in the right direction with an affordable boat loan guaranteed to let you set sail in no time. Take a look at these great terms!

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Motorcycle
Looking to purchase that perfect bike and head out on the open road? HRTFCU offers affordable financing on both new and used motorcycle loans.

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Auto Related Products and Services

GrooveCar
Shopping for a car has never been easier. GrooveCar is a unique car-buying service offered free to members that can help you get the most of your car-buying dollars. Use it to compare car prices, check out trade-in values - and more. Click on to “GrooveCar” and start surfing for deals today! For members who prefer to talk with someone about their car buying needs, call GrooveCar direct at 1-866 Groove4.

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Carfax
Buying a used car takes careful consideration. A Carfax Vehicle History report gives you the information you need to make an informed buying decision. Carfax can tell you if a car has ever been totaled, damaged from a flood, or had the odometer rolled back. To receive your Carfax report contact a HRTFCU loan officer at (914) 526-4015.

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Guaranteed Asset Protection (GAP)

You could lose more than your vehicle, boat or motorcycle if it is stolen or involved in a major accident. You could lose your investment. Because most insurance policies only cover the value of your vehicle - something that rapidly declines during the first few years of ownership - your loan balance could be higher than the value of your vehicle. GAP covers the difference between your vehicle’s value and the amount you still owe essentially protecting you and your entire investment from substantial loss. Call the credit union’s loan department for more information.

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Mechanical Breakdown Protection (MBP)

HRTFCU is pleased to offer “Mechanical Breakdown Protection” to members financing new or used vehicles. The protection provides coverage for vehicle mechanical and electrical failures and also provides additional benefits such as 24-hour road assistance, tire protection, rental assistance and trip interruption benefits.  Choose the level of coverage that best fits your needs. Ask about it when you are financing your new or used vehicle.

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Personal
Consider HRTFCU your consumer loan specialist. Whether you’re looking to consolidate your debts, take a vacation or furnish your home, our personal loans are designed to meet your every need.

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Signature
With a quick signature you can take advantage of an unsecured installment loan with affordable terms and no pre-payment penalties

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Computer
Keeping up with technology in today’s digital world is extremely important. That’s why HRTFCU offers members an opportunity to finance a new computer at a special low fixed interest rate. *

*To receive special rate, the credit union will take a security interest in the computer system until paid.

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Other
Borrow money from yourself while you continue to earn interest on your funds with a share or certificate secured loan. You can continue to earn interest on your funds used as collateral, while paying a competitive interest rate on the money you’ve borrowed.

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Share Secured
A share secured loan is a great idea if you’re looking to build or reestablish your credit history or you need to make a necessary purchase but don’t want to deplete your savings. 

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Certificate Secured
Our share certificate loan allows you to borrow against the available balance of your share certificate and at the same time enjoy the benefits of a higher dividend rate. It also allows for flexibility in repayment terms not to exceed the maturity of the pledged certificate.
*excludes IRA certificate accounts

All loans are subject to qualification of the borrower.

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Home Loans
Whether you’re a first time home buyer, looking to re-finance, buying a second property, or making home improvements, we make it simple to get a mortgage loan that fits your needs and your budget.  We offer competitive interest rates, low fees and a quick turn-a-round time guaranteed to save you time and money. Put your home financing in the hands of someone you trust and let our expert real estate lending team guide you through the process. It doesn’t get easier than that!

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1st Mortgage
Ready to buy or re-finance a home? HRTFCU offers an in-house variable rate* program that offers competitive rates and is packed with money saving benefits. You’ll enjoy significant savings on your closing costs because we don’t escrow for tax or insurance payments and our level payment plan provides peace of mind in knowing that your monthly payment will remain the same throughout the life of the loan.** Take advantage of our flexible repayment terms that allow for weekly or bi-monthly payments and save even more! Since HRTFCU always retains the servicing of your mortgage loan, it’s easy to make payments because they’re always made right here at your credit union.  

HRTFCU Variable Rate Mortgage Program

*The rate re-prices semi-annually and is at a margin of 2.0% over the one year treasury constant maturity.
**Your monthly payment will not change unless the interest rate increases such that negative amortization could occur. Please refer to adjustable rate mortgage disclosure available through the credit union’s mortgage department for details.

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Home Equity Loan
Whether you need a loan for debt consolidation, home repairs, a new car, college tuition or a wedding, HRTFCU can help with a low-rate Home Equity Loan. Using the equity in your home is a smart way to borrow. Whatever your needs, you’ll benefit from a competitive variable rate* low closing costs, and easy repayment terms with the security of knowing your payments will never increase. ** And interest on home equity loans are usually tax-deductible. (consult your tax advisor about the deductibility of interest).

HRTFCU Variable Rate Home Equity Loan

*The rate re-prices semi-annually and is at a margin of 2.0% over the one year treasury constant maturity. This loan is secured by a first or second lien on your home.

**Your monthly payment will not change unless the interest rate increases such that negative amortization could occur. Please refer to adjustable rate mortgage disclosure available through the credit union’s mortgage department for details.

For more information about any of our mortgage products or to speak with a credit union mortgage professional please call (914) 526-4015 ext. 18.

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Mortgage Webcenter
More choices mean more options and HRTFCU’s Mortgage Webcenter provides just that. Members can choose from a variety of innovative home financing products including 15, 20, and 30 year fixed rate mortgages. Get instant rate quotes and free on-line pre-approvals so you can shop for your mortgage with confidence.

Visit our Mortgage Webcenter now for everything you need when it comes to home financing.

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Student Loans
Sallie Mae Smart Option Student Loan^SM by Hudson River Teachers FCU
Ready to apply?

By clicking the continue button you acknowledge that you are leaving the Hudson River Teachers FCU Website and will be directed to a partner website. Hudson River Teachers FCU is not responsible for, nor do we control or guarantee the content, privacy policy or security of the subsequent website. While there is no additional cost to you, we are compensated for the referral of Smart Option Student Loan Customers. To Continue click here To Not Continue, click here

The innovative Sallie Mae Smart Option Student Loan^® by Hudson River Teachers FCU helps you save money, build your credit, and pay off your student loan faster. It's an ideal education funding solution if you still need funds after maximizing grants, scholarships, and federal loans.

With the Smart Option Student Loan®, you can borrow up to the full cost of your education, less other aid received1. Designed to help you graduate with less student loan debt and help you pay it off faster, the Smart Option Student Loan requires making interest-only payments while in school and during the six-month separation period to avoid capitalized interest. A creditworthy cosigner may also help you qualify and/or receive a lower interest rate.

Eligibility

• You must attend an eligible school, be an undergraduate student or attending an eligible associate, graduate or technical/trade program at least half time. In some circumstances, the Smart Option Student Loan is available to less-than-half-time students and students enrolled in a continuing education program
• U.S. citizens enrolled in eligible study abroad programs or studying at medical schools outside the United States are also eligible
• International students are eligible with a creditworthy cosigner (who must be a U.S. citizen or permanent resident) and appropriate U.S. Citizenship and Immigration Service documentation
• You must meet current credit and other eligibility criteria.

Benefits

• Pricing that rewards creditworthy borrowers
• Applying with a creditworthy cosigner may help you qualify and/or receive a lower interest rate
• You may apply for a cosigner release after successful completion of your education ²
• Interest-only payments are required while in school and during the six-month separation period to avoid capitalization of interest and lower the cost of the loan
• A 0.25 percentage point interest rate reduction is available for automatic debit. ³

Features

• Easy online application with fast credit decision and electronic signature (“eSign”) available.
• 24/7 online account management.
• No prepayment penalty.
• You may be able to deduct the interest you pay on a qualified student loan.⁴

LOAN TERMS
Loan limits

• $1,000 minimum loan amount.
• Borrow as much as you need to pay for your education, up to the cost of attendance as certified by your school and confirmed by Sallie Mae, less other financial aid received.¹

Interest rate

• Applying with a creditworthy cosigner may help you qualify and/or receive a lower interest rate.
• The Sallie Mae Smart Option Student Loan has interest rates that reward good credit. Interest rates are variable and are reset monthly based on the one-month LIBOR Index.

Fees

• Disbursement fees range from 0% to 3%.
• No repayment fee.

Repayment

• Monthly interest-only payments are required during the in-school period and during the 6-month separation period; by doing so you’ll avoid capitalized interest and reduce your total loan cost.
• Consider making principal and interest payments while in school to lower the amount you must pay back.
• Principal and interest payments begin following the six-month separation period.
• Prepay your loan at any time without penalty.

Another way to help pay down your loan

Join Upromise ® from Sallie Mae where your everyday spending can help reduce your Sallie Mae student loan balance. With Upromise Loan Link ®, it's easy. Your Upromise savings balances of at least $25 can be automatically transferred to a Sallie Mae-serviced student loan account on a quarterly basis. Not all loans are eligible. To learn if your loan is eligible for Upromise Loan Link, or to register, visit Upromise.com.⁵

¹ Borrow as much as you need to pay for your education, up to the cost of attendance as certified by your school and confirmed by Sallie Mae, less other financial aid received. Sallie Mae reserves the right to approve a lower loan amount than what the school has certified.
² The release of a cosigner is at the sole discretion of Sallie Mae. The borrower must have a satisfactory history of making principal and interest payments, meet age of majority requirements and meet underwriting requirements when the request for cosigner release is processed. The borrower’s account must remain current until the request for release is processed and the borrower must be a U.S. citizen or permanent resident at the time the cosigner release is processed.
³ The automatic debit benefit is available for as long as the borrower’s monthly payment amount is successfully deducted from the designated bank account. Borrowers can elect to make payments via automatic debit through Sallie Mae’s online account management system. This benefit lowers the borrower’s interest rate but does not change the amount of the monthly payment. This benefit is suspended during periods of forbearance and certain deferments.
⁴ Consult your financial advisor for more information or visit http://www.irs.gov/pub/irs-pdf/p970.pdf.
⁵ To view whether or not a loan is eligible to participate in the Upromise Loan Link program, please visit Upromise.com/LoanLink. Access to Upromise is not limited to Sallie Mae loan customers.

Sallie Mae Smart Option Student Loans are made by Sallie Mae Bank®. Hudson River Teachers FCU is compensated for the referral of Smart Option Student Loan customers.

Borrower benefit information is valid as of October 26, 2009.

SALLIE MAE RESERVES THE RIGHT TO MODIFY OR DISCONTINUE PRODUCTS, SERVICES AND BORROWER BENEFITS (INCLUDING INTEREST RATE REDUCTIONS) AT ANY TIME WITHOUT NOTICE. APPLICANTS SHOULD CHECK THE SALLIE MAE WEBSITE (SALLIEMAE.COM) CLOSE TO THEIR LOAN APPLICATION DATE AND AGAIN PRIOR TO DISBURSEMENT TO OBTAIN THE MOST UP-TO-DATE INFORMATION REGARDING PRODUCTS, SERVICES AND BORROWER BENEFITS.

Sallie Mae, and Sallie Mae Bank are registered service marks and Sallie Mae Smart Option Student Loan is a service mark of Sallie Mae, Inc. Upromise and Upromise Loan Link are registered service marks of Upromise, Inc. SLM Corporation and its subsidiaries, including Sallie Mae, Inc., are not sponsored by or agencies of the United States of America. ©2009 Sallie Mae, Inc. All rights reserved. (10/09)

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