We have money to lend! Both personal (unsecured)
and secured loans are available for any provident and productive
purpose. From vehicles to Visa, we have a loan for you. Our lending
policy is to offer preferred rates to members with excellent credit
while still offering competitive rates to members trying to improve
their credit records. Check your credit
Benefits of Borrowing from Your Credit Union
Rates are always stated in annual terms as annual percentage rates.
Interest is charged only on the declining balance.
There's no prepayment penalty.
You can make automatic repayments through direct deposit or payroll
Loan protection and disability insurance are available. (Disability
insurance is offered through the Family Security Plan®, along
with life insurance and cancer insurance. While D.C. Teachers Federal
Credit Union has established a relationship with the Family Security
Plan to provide services to DCTFCU members, we are not responsible
for their services. If any problems arise with their services, you
will need to address your concerns directly to them.)
Types of Loans Available
Personal (Signature) Loan
New and Used Car and Truck
Motorcycle, RV, Travel Trailer and Camper
Line of Credit (Secured or Unsecured)
Share Pledged Loan
VISA Credit Card
Home Equity Line of Credit
To qualify for a loan, you must:
be a member in good standing
maintain a share balance of at least $100
maintain any other Credit Union loans current (no delinquency)
be legally qualified to enter into a binding agreement
demonstrate an ability to save
submit a complete application and current payroll statement
have a favorable employment and credit history
In some cases, there may be additional requirements
depending upon the type and amount of loan requested. Membership
alone is a not sufficient basis for granting a loan; there is no
unqualified right to a DCTFCU loan.
If you've filed for bankruptcy in the past, we cannot
grant you a loan unless you've had a good credit rating for the
past two years. If our credit union suffered a loss as a result
of your bankruptcy, you're no longer eligible for credit and no
longer eligible to be a co-maker for other members' loans.
Our Skip-A-Payment program
lets members choose one month to skip their monthly loan payment.
Keep the cash for some other purpose! Apply
Extra Protection for Your Car. and Your Pocketbook!
Protect your budget and your vehicle with an
Extended Warranty from DC Teachers FCU. Get peace of mind
and protection against expensive, unexpected automotive repair
costs when you purchase and Extended Warranty from DC Teachers
Buy and Extended Warranty for less that the cost at most
dealerships and enjoy:
- Coverage of most major components in the event of a breakdown.
- No-hassle Direct Payment- no reimbursement forms
- A one-time premium that may be financed along with your vehicle
When financing your next new or used vehicle, be sure to
consider purchasing an Extended Warranty through your Credit
Union. If you’ve already purchased your vehicle you
may still be eligible if you have at least one month or 1000
miles on your manufacturer’s warranty. To find out more,
please call us at 202.547.4800 or stop by your nearest location.
Your Credit Record Clean
See our current service charges
Account Terms, Disclosures