Need a little extra money for Christmas this year? The St. Thomas Employee Federal Credit Union is offering a Santa Special loan for eligible members, but the offer expires on Wednesday, Dec. 22.
The loan can be for up to $1,000, up to one year in term, at an annual interest rate of 10 percent. To be eligible, a credit union member must have a Beacon (an Equifax credit score) of at least 600 (no exceptions).
Not sure of your credit score? The credit union will run reports for members. Permission is required before a report can be run; for a report call (651) 962-6660 or e-mail email@example.com.
Payments on a $1,000 Santa Special loan will be approximately $40.50 per paycheck for 26 biweekly payments. This loan, which is essentially a signature loan, can be had in addition to a regular signature loan, which has a limit of $3,000. The loan also can be had in addition to the credit union's Signature Loan Special, which is being offered to members with Beacon scores of 750 or better. The Signature Loan Special, which is ongoing, offers up to $5,000 for up to five years at 8 percent annual percentage rate.
"This is also a good time to think about joining the credit union's Christmas Club for 2011," said Adrienne Sturm, credit union manager. "Save a little each paycheck and receive a Christmas check next Nov. 1, including all deposits plus the annual dividend, and maybe you will have no need to borrow."
To view other offerings, both savings and loans, see the credit union website.