NEW AUTO LOANS

USED AUTO LOANS

• Used auto financing available for current year and older, in excess of 48,000 miles.
• A buyer's agreement or a vehicle inspection is required.
• Insurance is required for the full term of the loan with a $1,000.00 maximum deductible.
• Terms are up to 72 months based on the mileage, age, and amount financed.
• We will finance up to 100% of purchase price plus tax, tag, title, warranty, and GAP insurance not to exceed 115% of retail value.

MASTERCARD CREDIT CARD

Discover the advantages of a MasterCard or Platinum MasterCard with Okaloosa County Teachers FCU.  We offer one of the most competitive card programs.  Once you carry our card you will not need any other credit card. 

• Low Annual Percentage Rates
• One rate for both purchases and cash advances
• No Annual Fee
• 25 day interest free grace period on purchases
• No transaction fee for cash advances
• No transaction fee for balance transfers 

LINE OF CREDIT 

• This Line of Credit is an open account 
• Monthly payments will vary with the minimum payment being $35.00.  
• Advances can be dispersed by the tellers or the loan department. 

FIRST MORTGAGE

We offer a full range of affordable first mortgage loans with low closing costs.  Refinance your mortgage or purchase that first home with a 100% first mortgage.

We will make the application process simple, and you can count on the personal service you've come to expect from Okaloosa County Teachers FCU.

To apply online, click here.

 In compliance with the Secure and Fair Enforcement of the Mortgage Licensing Act, also known as the SAFE ACT, Okaloosa County Teachers Federal Credit Union, upon request, will provide you with any of our mortgage originators NMLS identification number. The major purpose of the SAFE Act is to increase consumer protection and awareness by allowing consumers access to mortgage loan originator information with whom they wish to conduct business. You may access information at the nationwide mortgage licensing registry at www.nmlsconsumeraccess.org.

HOME EQUITY LOANS

We offer home equity lines of credit that allows you to keep money at your fingertips when you need it.  Access the equity you've built in your home for education expenses, home improvements, a vacation, or even a new car.

Advantages of an Okaloosa County Teachers FCU Home Equity Line of Credit:

• Variable Rate as low as Prime*
• Interest may be tax deductible**
• Borrow 75% Loan-To-Value with 5 year draw and 15 year term.
• Only pay interest on the money you use

* The APR is determined by the Prime Lending Rate posted in the Wall Street Journal.
** The interest may be tax deductible.  Check with your tax advisor. 

FIXED RATE SECOND MORTGAGE

We offer fixed rate second mortgages with 5 year and10 year terms. One time closing with no additional draws. You may borrow up to 75% Loan-To-Value.

CERTIFICATE OF DEPOSIT AND SHARE SECURED LOANS

A member can borrow against their certificate of deposit and/or share/savings account.

• All accounts that are pledged for the loan must have funds frozen in the amount of the loan account .
• We can not make a loan secured by money in an IRA account.

Share Certificates provide a safe way to save for the future whether you have short or long term needs.  Certificates are available for a minimum of $1000.00 with rates on various terms.  Terms are from 31 days out to 30 months.

INDIVIDUAL RETIREMENT ACCOUNT (IRA)

The Credit Union offers Traditional IRAs, ROTH IRAs and Education IRAs.  Contact the credit union's IRA department for more information.  Call a member service representative at 850-682-2225.

CHRISTMAS CLUB ACCOUNT

What would be the best present you could give yourself next Christmas?  How about the chance to do your shopping without worrying about how to pay the bills?  You can give yourself the gift of worry-free shopping by opening a Christmas Club account.

You can make regular deposits through payroll deduction, or you can deposit money at your convenience.  Our Christmas Club account allows you to keep your holiday funds separate from your other savings and earn dividends on every dollar.  Disbursements will be made at member's request.

VACATION CLUB ACCOUNT

You save for that dream vacation by opening a vacation club account.  Earn dividends on every dollar.  You can make regular deposits through payroll deduction, or you can deposit money at your convenience.  Disbursement is made at member's request. 

 You automatically open a share savings account when you become a member.  Your minimum opening deposit of $5.00 goes directly into this account and you will earn competitive dividends/interest paid quarterly.  You'll find saving is easy with payroll deduction, ACH, deposit by mail, or "In Person".

MONTHLY SERVICE CHARGES
None 

Minimal fees will apply for copies of drafts, stop payments, overdraft transfer fees, return items, etc. 

SHARE CERTIFICATES

EARLY WITHDRAWAL PENALTY: If the maturity of a share certificate is one year or less, the forfeiture is equal to 90 days dividends. If the maturity of a share certificate is more than one year, the forfeiture is equal to 180 days dividends.  Call a member service representative at 850-682-2225. 

MONEY  MARKET

• Minimum amount of $1000.00 to open account.
• $5.00 monthly service fee if the balance drops below $1000.00
• Obtain unlimited "in person" withdrawals
• Use 24 hour audio response and home banking for unlimited transactions.
• Dividend rate and annual percentage yield may change at any time as determined by the board of directors.
• Dividends are compounded and credited monthly.