Your years of loyalty to your employer can help you back
Now, the Development Bank of Latin America and the Caribbean-CAF not only rewards your loyalty and performance with a fund in recognition of years of service. After reaching an institutional agreement with OAS FCU, you can use 100% of the accumulated funds as a guarantee to request a line of credit with quick and easy access whenever you need it. And because the loan is guaranteed, you receive a particularly low rate.
We will lend you up to 100% of the available accumulated balance for your years of service.
We offer very convenient repayment terms of up to 15 years. *
Pay off the loan at any time without any prepayment penalties.
As this loan is a line of credit: you will only pay interest on the balance you use.
To set up the deposit of your monthly salary into an account at OAS FCU.
Complete your application and attach a letter issued by your Human Resources department’s main office that includes the available balance of your benefits.
Sign the Irrevocable Collateral Guarantee document for the amount approved on your loan.
Rates
OAS, IICA & Other SEGs
Type
APR*
Terms
Loan Amount
OAS Retirement & Pension Plan
8%
Up to 15 years
Up to $65,000
IICA Recognition of Years of Service
8%
Up to 15 years
Up to 100% of accrued benefit
OAS Benefits
10.50%
Uo to 10 years
Up to $10,000
* APR means annual percentage rate. This is a variable indexed rate based on the Prime Rate published by The Wall Street Journal. Using that rate as reference and, as it fluctuates, your loan rate may change on any of the following dates: the last day of March, June or September or December. An increase in rate might affect your payment amount. OAS FCU lists rate ranges that are applied during loan evaluation. Based on the results of your credit evaluation and the analysis of your repayment ability, you might be approved for a smaller loan than you requested; your loan might also be denied.
Fixed Rate Personal Loans
Type of Loan
APR**
Term
Loan Amount
Green Loan
8.44%*
Up to 42 months
Up to $15,000
* This is a fixed rate and will remain the same during the entire life of the loan. Loan approval is based on a credit and repayment ability evaluation, and it is possible that you may not qualify for this loan. Loan disbursement subject to proof of purchase or invoice of the green product. Available only for members and improvements in the United States.
** APR means annual percentage rate. This is a variable indexed rate based on the Prime Rate published by The Wall Street Journal. Using that rate as reference and, as it fluctuates, your loan rate may change on any of the following dates: the last day of March, June or September or December. An increase in rate might affect your payment amount. OAS FCU lists rate ranges that are applied during loan evaluation. Based on the results of your credit evaluation and the analysis of your repayment ability, you might be approved for a smaller loan than you requested; your loan might also be denied. Sample payment: the monthly payment for a $15,000 loan would be $451.25 in 36 installments.
***Fixed rate limited time offer loans.
Personal Loans
Type of Loan
APR*
Term
Loan amount
Green Loan
8.44%**
Up to 42 months
Up to $15,000
Signature
11.50% - 18.00%
Up to 6 years
Up to $35,000
Deposit Secured (Shares and Share Certificates)
2.5% above the rate paid on deposit pledge
Up to 10 years
Available balance on deposit pledge
Post-Secondary
Education Loan
9.50% - 11.50%
Up to 4 years
Up to $15,000
International Personal Loan
18%***
Up to 3 years
Up to $5,000
* APR means annual percentage rate. This is a variable indexed rate based on the Prime Rate published by The Wall Street Journal. Using that rate as reference and, as it fluctuates, your loan rate may change on any of the following dates: the last day of March, June or September or December. An increase in rate might affect your payment amount. OAS FCU lists rate ranges that are applied during loan evaluation. Based on the results of your credit evaluation and the analysis of your repayment ability, you might be approved for a smaller loan than you requested; your loan might also be denied.
** This is a fixed rate and will remain the same during the entire life of the loan. Loan approval is based on a credit and repayment ability evaluation, and it is possible that you may not qualify for this loan. Loan disbursement subject to proof of purchase or invoice of the green product. Available only for members and improvements in the United States.
****This is a variable rate loan. The rate is determined by adding a margin to an existing published rate (the Prime Rate published on the Wall Street Journal), and the rate may change without previous notice on the last day of March, June, September or December each year; however, your rate will never exceed 18% APR. Based on the results of your credit evaluation, and the analysis of your repayment ability, you might be approved for a smaller loan than you requested; your loan might also be denied. This loan is offered exclusively to members of OAS FCU who do not otherwise qualify for any loans via their employers as part of their employers’ relationships with the Credit Union. We offer this loan to those who have been members of OAS FCU longer than one year, and who can provide proof of employment with income exceeding 24 months. Sample repayment schedule: the monthly payment for a 3-year loan with the current rate would be $35.65 for every $1,000 borrowed.
Credit Cards
Type
APR*
Credit Limit
VISA Platinum
13.25% - 16.25%
Up to $30,000
VISA Classic
11.25% - 17.99%
Up to $10,000
Balance Transfer(1)
2.25%
Up to available credit
* APR means annual percentage rate. This is a variable indexed rate based on the Prime Rate published by The Wall Street Journal. Using that rate as reference and, as it fluctuates, your loan rate may change on any of the following dates: the last day of March, June or September or December. An increase in rate might affect your payment amount. OAS FCU lists rate ranges that are applied during loan evaluation. Based on the results of your credit evaluation and the analysis of your repayment ability, you might be approved for a smaller loan than you requested; your loan might also be denied.
(1) The promotional APR is available for the first 12 months after the balance transfer. Any remaining balance remaining after that time will incur the standard rate of your card at that time.
Fees
Loan Fees
Processing vehicle titles
$50 + DMV cost
Skip-a-Payment
$5 each loan
Single debit origination to pay for a loan
No charge
Recurrent monthly debit origination to pay for loan
No charge
Late fee for consumer loans
4% of the monthly payment after 30 days past due
Late fee for HELOCs
4% of the monthly payment after 10 days past due
Late fee for mortgages
5% of the monthly payment after 15 days past due
FAQs
Yes, it is a line of credit from which you may request advances as you need them.
OAS FCU members who are employed by CAF and have accrued funds available may request a loan of up to 100% of the available funds in recognition of their years of service.
If you are not a member of OASFCU, you must establish your membership and open an account with the Credit Union to have your payroll deposited there. After that, you will need to request a letter stating the current available accumulated balance in your name at the time of your application from the Human Resources department’s head office. Then, you will need to fill out and signtheIrrevocable Loan Guarantee document and the loan application. Our Loan Department will process your application and inform you of their decision.
Yes, this loan is included in our Skip-a-Pay program. On this program, you may request to defer two non-consecutive loan payments per year, whenever it is most convenient to you. To request it, fill out the request form to let us know for which month(s) you would wish to skip loan payment(s), and send it to us at least five days before the next deferred payment is due.
If you pay off the loan completely before your work at CAF ends, you will receive 100% of the available accumulated funds. If you have a balance on this OAS FCU loan, the amount due will be paid off by CAF as part of your liquidation, and we will close the line of credit. This is what has been agreed between CAF and OAS FCU, and something to which you agreed via the Irrevocable Loan Guarantee that you signed when applying for the loan.
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