Other Loans

Come to Atlantic City Electric Company Employees Federal Credit Union before you make that final loan decision. We have many loan options and can offer good advice on how best to manage your loan needs.

• Personal Signature Loans
  
• Share Secured Loan
  
• Student Loans
  
• Refinancing

Personal/Signature Loan
This loan is one of the most popular member loans because it can be used to solve a variety of money problems.

With our Signature/Personal Loan, you never have to wrestle over where you're going on your next vacation, or whether or not you can fit a new computer into your budget. You can borrow the funds you need for 2, 3,or 4 years, at our great, low rate. Take a vacation, buy a computer, fix the car, you name it!

Guidelines for Eligibility

• Proof of Stable Income
  
• Credit History Analysis
  
• Employment History Verification
  
• Income to Debt analysis
  
• Ability of Repayment
  
• Meaningful Purpose
  
• Member in Good Standing

With the accumulated funds in your share accounts, you can apply for a loan. No need to take the money out.

By pledging your Shares in the credit union for the full period of the loan, you may borrow up to the amount you have pledged for up to 5 years. The following guidelines apply:

• Dividends continue to be paid as usual on pledged funds.
  
• The amount frozen is amortized as the loan is repaid.
  
• Total amount of the loan must be secured by shares in account.
  

Call for details.

Student Loans
We know that student loan information starts to look like alphabet soup with all those different types of loans. But your credit union can unscramble the letters so they all spell "money" for your student.

Atlantic City Electric Company Employees Federal Credit Union works with CUNA Great Lakes Higher Education Servicing Corporation to provide the college funding you need. Come to us for a:

• Stafford Loan - The Stafford Loan program makes low-interest loans available to students to help pay their education costs. All Stafford Loans carry a variable rate of interest, subject to change every July.
  
  
• PLUS Loan - Stafford Loans don't always cover college expenses, so some parents take out a PLUS loan to cover the rest. Both PLUS and Stafford loans carry variable interest rates and charge an origination fee (usually equal to 3% of the loan) and a guarantee fee (up to 1% of the loan). Unlike the Stafford Loan, PLUS loans don't have an aggregate limit; parents can borrow the full amount of their children's college expenses, minus any financial aid received. Parents start making payment within 60 days of disbursement.
  
  
• Home Equity Loan - Home Equity Loans offer parents interest rates comparable to the PLUS Loan but with tax advantages. Home Equity Loans are usually 100% tax-deductible (confirm with your tax advisor).
  

Call our loan department today. You and your student will be glad you did.

Refinancing Loans
If you have already have a home equity, personal, or new or used vehicle, RV, or van loan at another financial institution, you can still take advantage of the great interest rates and flexible terms that Atlantic City Electric Company Employees Federal Credit Union offers its members. Refinance with us, today. Our great low rates and terms on refinancing can immediately reduce your monthly payments.

So don’t stay stuck with their rates and payment terms. Refinance with us and save. Consider Direct Deposit and Payroll Deduction and make that saving even easier.

Apply For A Loan

• Whenever Loan
  
• Online Loan Application