Rates

Effective: 10/01/2024

We also offer loans for boats and motorcycles, and loans secured with your savings or certificate. Call us for the most current interest rates.

Important Terms & Conditions

*APR = Annual Percentage Rate.

Ko`olau FCU membership is required. Rates are based on an evaluation of credit history and other factors specific to your loan (such as loan term, age of collateral, occupancy of the collateral property, combined loan-to-value, lien status, and loan amount).

Rates were effective as of the date of this notice and are subject to change without notice.

Auto Loan:

Lowest rates advertised are based on a term of 36 months or less and LTV of 120% or less. Rates are higher for terms greater than 36 months. LTV is based on Kelley Blue Book (KBB) valuation, terms up to 84 months. Monthly payments on a $25,000 loan for 36 months could be as low as $757.34.

Motorcycle Loan:

Loan amounts up to $25,000; terms up to 84 months. LTV based on KBB retail or dealer invoice.  Monthly payments on a $25,000 loan for 36 months could be as low as $738.16.

Signature Loan:

Loan amounts up to $30,000, terms up to 84 months. Monthly payments on a $10,000 loan for 36 months could be as low as $318.00.

Personal Line of Credit:

Loan amounts up to $15,000.

Share Secured Loan:

APR is fixed for the life of the loan. Pledged shares will be held in a non-dividend-bearing account until the loan is paid off. Loan amounts up to secured amount, terms up to 120 months.

Credit Card:

All terms, including fees and the APRs for new transactions, may change after account opening in accordance with the Agreement and applicable law. Cash advance fee and foreign transaction fees of 1% of the US dollar amount of the foreign transaction apply. Go to www.koolaufcu.org to see important details about the KFCU VISA Platinum Rewards Program.

Home Equity Lines of Credit:

You may have to pay certain third parties closing costs that range between $0 to $1,200, depending on the amount of the loan and other factors. Property and hurricane insurance and, if applicable, flood insurance is required. Owner-occupied loan amounts up to $375,000 and 80% loan to value for single-family homes and 75% loan to value for condos or townhomes. Non- owner-occupied property up to 70% loan to value for single-family homes, condos, or townhomes, less outstanding liens. APRs do not include costs and rates may vary quarterly (maximum 18% APR). Monthly payments are required and applied as principal and interest payments. At the end of the draw period, your monthly payment may increase equal to the principal and interest amount necessary to pay the loan balance over the remainder of the repayment period.

Home Equity 95% Line of Credit:

Owner-occupied property. You may have to pay certain third parties closing costs that range between $0 to $1,200, depending on the amount of the loan and other factors. A property valuation performed by a certified and approved Appraiser is required at the expense of the borrower. Property and hurricane insurance and, if applicable, flood insurance is required. Owner-occupied loan amounts up to $250,000 and 95% loan to value for single-family homes, condo or town homes, less outstanding liens. Fee simple properties only. APRs do not include costs and rates may vary quarterly (maximum 18% APR). Monthly payments are required and applied as principal and interest payments. At the end of the draw period, your monthly payment may increase equal to the principal and interest amount necessary to pay the loan balance over the remainder of the repayment period.

“Rates” explains current terms and rates applicable to the savings (share), checking (share draft) and share certificate accounts we offer. We may offer other rates or amend the rates from time to time. Each owner on an account agrees to the terms described in the Member Service Agreement (MSA).

Effective: 10/01/2024

Explanation of Rates

As explained in the MSA, “Rates” applies to all the accounts we offer. Except as specifically described, the following terms apply to all of the accounts you have with us. 

1. Rate Information 

The Dividend Rate and Annual Percentage Yield on the accounts are set forth above. For all accounts except certificates, the Dividend Rate and Annual Percentage Yield may change at any time as determined by the Board of Directors. Checking and Money Market accounts are Tiered Rate Accounts. The Dividend Rate for a particular tier will apply to the entire account balance if the account balance is within the balance range for that tier. The Dividend Rates and Annual Percentage Yields are the prospective rates as of the effective date shown above. For certificate accounts the Annual Percentage Yield is based on the assumption that dividends will remain in the account until maturity. A withdrawal of dividends will reduce earnings. 

2. Nature of Dividends 

Dividends are paid from current income and available earnings after required transfers to reserves at the end of a dividend period. 

3. Compounding and Crediting 

Dividends will be compounded and credited as set forth above. For dividend-bearing accounts, the Dividend Period begins on the first calendar day of the period and ends on the last calendar day of the period. 

4. Accrual of Dividends 

Dividends will begin to accrue on noncash deposits (e.g., checks) on the business day you make the deposit to an account you have with us. If you terminate the account before accrued dividends are credited, accrued dividends will not be paid. 

5. Balance Information 

The minimum balance required to open each account and earn the stated Annual Percentage Yield is set forth above. If you do not maintain the minimum balance, you will not earn the stated Annual Percentage Yield. For all dividend-bearing accounts, dividends are calculated by using the Average Daily Balance method, which applies an average daily periodic rate to the balance in the account for the period. Please see the Service Charges on page 4 regarding the minimum balance information to avoid monthly service charges. 

6. Account Limitations 

For a Christmas account, the entire balance will be transferred to another account with us on or after October 1 and the account will remain open. The account is nontransferable and nonnegotiable. The funds in the account may not be pledged to secure any obligation of an owner, except obligations with the Credit Union. 

7. Certificate Account Features 

a. Account Limitations 
After you start the account, you may not make additional deposits to a Certificate Account.

b. Maturity
The Certificate Account you have with us will mature on the maturity date identified on your Account Receipt or Renewal Notice. 

c. Early Withdrawal Penalty 
We may impose a penalty if you withdraw any of the principal of the Certificate account before the maturity date. For Super Certificates, you may withdraw up to 50% of the original principal balance after the first six days the account is open without an early withdrawal penalty. Withdrawals in excess of that amount will be subject to early withdrawal penalties as set forth below. All other certificates are subject to early withdrawal penalties as set forth below. 

1. Amount of Penalty. The amount of the penalty depends on the term of the certificate. For certificates with terms of less than 12 months, the penalty is equal to all dividends earned on the amount withdrawn, with a minimum of seven (7) days dividends and a maximum of 30 days dividends. For certificates with terms of 12 to 18 months, the penalty is equal to all dividends earned on the amount withdrawn, with a minimum of seven (7) days dividends and a maximum of 90 days dividends. For certificates with terms of over 18 months, the penalty is equal to all dividends earned on the amount withdrawn, with a minimum of seven (7) days dividends and a maximum of 180 days dividends

2. How the Penalty Works. The penalty is calculated as a forfeiture of all or part of the dividends earned on the amount of early withdrawal. If earned dividends have previously been withdrawn or the account has not yet earned enough dividends, the penalty will be deducted from the principal balance

3. Exceptions to Early Withdrawal Penalties. At our option, we may pay the account before maturity without imposing an early withdrawal penalty under the following circumstances: when an ac- count owner dies or is determined legally incompetent by a court or other body of competent jurisdiction. Where the account is an Individual Retirement Account (IRA) and any portion is paid within seven (7) days after establishment or where the account is an IRA and the owner attains age 59 1⁄2 or becomes disabled and begins making periodic withdrawals

d. Super Certificate Rate Bump 
For Super Certificate accounts, once during any term of the ac- count, you may elect to increase or “bump” the rate on the account to the rate currently in effect for super certificate accounts of the same term. You must contact the credit union to request a rate increase. 

e. Renewal Policy 
Certificate accounts are automatically renewable accounts. Automatically renewable accounts will renew for another term upon maturity. You have a grace period of five (5) days after maturity in which to withdraw funds in the account without being charged an early withdrawal penalty. 

f. Nontransferable/Nonnegotiable 
The account(s) you have with us is/are nontransferable and nonnegotiable. This means that an account and the funds in the account may not be pledged to secure any obligation of an owner, except obligations with the credit union.