Loan Products
Auto (Used and New)
Ray Federal Credit Union saves you money by offering the best rate around on auto loans. Our staff is committed to providing fast service to save time, as well as money. We have book values for used cars and invoice pricing on new vehicles. Click here for NADA book.
AUTO BUYING RESOURCES
Better Than Payday Loan
Traditional cash advance products can charge up to 400% APR, and leave you in a financial bind; often requiring you to take out another loan at another high interest rate.
Everyone has an occasional financial emergency. If you need money for a short period of time, a Ray FCU Better Than Payday Loan* may be right for you. Our loans are an affordable alternative to traditional high-rate payday lenders because we don’t charge excessive rates or fees. Click here to apply now or visit any branch.
- Borrow from $300.00 to $1,000.00
- No credit check
- Up front application fee of $45.00 (may not be deducted from loan amount)
- Terms up to 6 months
- Limit of 3 PALs per 6-month period
- No pre-payment penalties
- No collateral required
- Must be a Ray FCU member for at least 60 days
- Requires 2 most recent paystubs or current SSI Award Letter
- Requires Direct Deposit*
* May be eligible for waiver if employer does not offer direct deposit
Larger loans may be subject to credit approval and may change without notice. Restrictions may apply. Payment begins 30 days from contract date. Loan balance must be paid in full before another loan can be taken. No roll-overs available. See your loan agreement for full terms and disclosures.
Personal Loans
Get the money you need now. Quick, affordable, and flexible, a Ray FCU Personal Loan is the perfect solution for those expenses that just can't wait.
With rates as low as 7.00% APR,* Personal Loans can be used for:
- Auto or Home Repair
- Furniture or Appliances
- Medical or Dental Expenses
- Vacation or Travel
- Any good purpose
Emergency Loans
BORROW UP TO $1,000.00 WITH A LOW FIXED INTEREST RATE* FOR UP TO 18 MONTHS
Welcome and thank you for learning more about Ray FCU’s Emergency Loan Program.
A Helping Hand When You Need It Most!
An unexpected event or emergency expense can turn your budget upside down. The Emergency Loan Program from Ray Federal Credit Union offers a fast, affordable option to get the cash you need to help get back on your feet.
THE AFFORDABLE OPTION
A smart alternative to costly payday loans or more expensive credit card debt, our emergency loans allow you to borrow from $500.00 to $1,000.00, with no collateral, a fixed interest rate, and a low, $45.00 loan origination fee.
Rates start at just 12.00% when you open a Ray FCU Checking Account and set up direct deposit of your paycheck or SSI income.
IMPORTANT THINGS TO KNOW
Your actual rate will be determined based on your credit score, and can range from 12.00% to 18.00%. To qualify, you must also be continuously employed by the same employer for at least six months, working a minimum of 20 hours per week. Sufficient income is also required and you may be asked to provide a current paystub. Retirees on fixed income may be eligible based on income requirements and credit history.
GETTING STARTED
Click Apply Now to start your application and be sure to reference "Emergency Loan" in the Personal Loan Information section. If you have any questions, we're here to help at (520) 363-5681.
Skip A Pay
To help with your cash flow and budget, you may be able to skip your loan payment up to ONE (1) time during each calendar year. This offer is a great way to free up cash for vacations, back to school shopping, the holidays, or anytime you need some extra cash. You choose the month that work best for you.
Here’s how it works!
Submit a Skip A Pay Request Form no less than 15 days before the payment date of the loan you wish to skip. The Skip A Pay Request Form must be signed by all borrowers/co-signers on the loan. There is a $25.00 processing fee for each eligible loan payment that is skipped. Fees must be paid by cash, check or withdrawal from your account. Fees cannot be added to the loan. You may not skip more than one (1) payments within a 12 month period per loan. At least three (3) payments must be made within skips. Skipped payments cannot be for consecutive months.
The following qualifications shall apply:
All existing loans must be current and paid up to date with no delinquencies greater than 10 days in the past 6 months. All share and share draft accounts must be in good standing with no negative balances. You must have made at least 6 full monthly payments on the loan you wish to skip payment on. Offer is only good on vehicle loans, recreational loans and personal loans. May not be used on real estate loans, share secured loans, or Payday Alternative Loans. Offer is not available on newly disbursed loans. Loans currently being paid by CUNA disability insurance are not eligible. On qualifying loans, interest will continue to accrue during the waived payment period. The $25.00 processing fee DOES NOT reduce the principal balance of the loan.
Free Annual Credit Report
Get a free copy of your credit report every 12 months from each credit reporting company.
Ensure that the information on all of your credit reports is correct and up to date.