Loan Description: A Kasasa Loan is a fixed rate, fixed term loan that provides consumers with an opportunity to lower their overall interest expense or create an open-end, revolving line of credit, by making payments that are in excess of the loan's scheduled monthly payments. Unlike traditional personal loans, consumers who have met each of their required schedule payments, can borrow against these excess funds - at the same interest rate as their initial Kasasa Loan - to address unexpected needs (i.e. car repairs, health issues) or take advantage of opportunities (i.e. college acceptance) that may arise. The loan's current available credit limit will be specified in each periodic statement issued. Loan Rates & Term: Kasasa Loans are subject to credit approval by our institution. Many factors affect credit approval and the interest rate you may receive. Upon approval, your loan's Annual Percentage Rate (APR) will not change throughout the life of your loan. Should your application be approved, your Kasasa Loan will begin on the day you sign our loan agreements and will continue until the maturity date or until you have a zero balance in your account. Loan Interest Charges & Fees: Interest will begin to accrue, with no grace period, on the date advances are posted to your loan. We use the daily balance method to calculate the interest on your account. Your daily balance is determined by adding any new advances, charges or unpaid accrued interest to the day's beginning balance and then subtracting any payments or credits that are made. We determine your interest charges by applying a daily periodic rate (i.e. APR / 365) to each daily balance within a billing cycle. In addition to interest, you will also be charged a fee of 5% of your payment amount for each time you are late on a scheduled payment and a fee of $20 for every payment that is returned to you for insufficient funds. Application of Loan Payments: All payments are applied first to any accrued interest, then to the loan's principal, then to any outstanding fees and finally to any remaining principal. Additional Information: To qualify, a borrower must be at least 18 years old, a U.S. citizen or a permanent resident and must meet our institution's underwriting requirements. Not all borrowers receive the lowest rate. To qualify for the lowest rate, you must have a responsible financial history and meet other funding criteria. If approved, your actual rate will be within the range of rates listed above and will depend on a variety of factors including the term of the loan, your financial history, years of experience, income and other factors. Rates and terms are subject to change at any time without notice and are subject to state restrictions. Contact one of our credit unino loan representatives for additional information, details and loan application.