- APR = Annual Percentage Rate. APR is your cost over the loan term expressed as a rate. Rates are subject to change prior to the completion of the loan. Your actual APR will be determined at the time of disbursement and may vary based on credit score and loan terms. If you qualify, we can give you a quote for the current rate and most loan documents can be signed electronically.
- To be eligible for this discount, members must be a current full-time or retired employee of the state of North Carolina (including public school employees) and members’ state payroll or retirement benefits from a plan administered by the North Carolina Retirement Systems division of the Department of State Treasurer must be on direct deposit with SECU (if on partial direct deposit, total monthly direct deposit amount must be $500 or greater). Additional terms and conditions apply.
- The variable APR is calculated by adding the index rate to a loan margin between 4.50% and 7.50% based on credit worthiness at account opening. The index is the U.S. Prime Rate as published in The Wall Street Journal and is subject to change quarterly. The APR cannot increase by more than 1% each quarter over the previous quarter and cannot exceed 18%. The APR will not exceed the maximum permitted by applicable law.
- Open-End Signature Loans originated after 10/31/2023 have a 10-year draw period. The length of the repayment period is indefinite.
- To advance funds, you must have agreed to the terms of our Online Services Agreement. Your loan must be accessible through your online services and authorized to perform online loan advances.
- Overdraft transfers made from an Open-End Signature Loan are considered loan advances. Transfers can be made up to 100% of the unused line of credit plus $200. Fees may apply. See the Overdraft Transfer Services page for more details.