Diamond Credit Union Loan Promotions
Take Advantage of Diamond’s Loan Promotions Today
Auto - Easy as $123 Cash Back
Getting an auto loan with Diamond is as easy as 1-2-3. It’s only fitting that you get $123 Cash Back when you finance a new or used auto loan. Take advantage of this limited time offer to save money on your new or new-to-you vehicle.
*Valid on all new/used autos and motorcycles purchased directly financed by Diamond Credit Union or refinanced from another lender. Title secured loans, business vehicle loans, RV financing, and existing Diamond Credit Union loans are not eligible for this offer. An opening loan balance of at least $15,000 will qualify for the $123 rebate. The promotional amount will be transferred into the membership share savings account once the loan is funded. If the loan is then refinanced from Diamond to another financial institution within 90-days of the purchase/refinance, then the promotional amount will be added to the loan payoff amount. Must be 18 years of age to qualify. Promotional incentives may be subject to income reporting. Certain conditions and restrictions may apply and offer may end at any time. Weekly and/or Bi-Weekly internal or external transfers can be posted toward the monthly loan payment amount so long as the full monthly payment is satisfied by the monthly payment due date. Failing to have full payment submitted by the due date may result in fees and additional charges. Rate match: Not all who apply or refinance will qualify for the rate match. Rate matches on refinanced auto loans are subject to credit requirements. All offers are valid for a limited time, see a Diamond representative for details.
Auto - No Payments for 3 Months
Refinance your auto or motorcycle loan and go payment-free for 3 months* from the date of your loan signing.
*Offer valid on all new/used auto or motorcycle loans directly financed or refinanced by Diamond Credit Union. RV financing, existing Diamond Credit Union loans, and Diamond Credit Union loans obtained through third party partner auto dealerships are not eligible for this offer. *90-day Payment Break: Interest will continue to accrue during the 90-day payment break and may extend the term of the loan. Payment example: A 66-month auto loan at 3.99% fixed APR will have 66 monthly payments of $16.90 per $1,000 borrowed. Auto Express Loans are not eligible for the 90-day payment break.
Must be 18 years of age to qualify. Promotional incentives may be subject to income reporting. Certain conditions and restrictions may apply. All offers are valid for a limited time. Please see a Diamond representative for more details.
For assistance, contact a Diamond Representative by calling 610-326-5490.
Home Equity Loan/Line of Credit
Home Equity Line of Credit (HELOC)
A home equity line of credit allows you to borrow against the value of your home, using your property as collateral. The amount you can borrow is determined by the amount of equity you have in your home. Equity is the difference between your home’s current market value (determined by an appraisal conducted by a license professional) and your mortgage balance. With a Home Equity Line of Credit, the loan amount is revolving – much like a credit card, but with a great rate.
As you make payments, the funds are replenished and available for you to borrow, again and again, as needed, for the life of the loan. This type of loan is best for expenses that are reoccurring or expenses that fluctuate, such as college tuition, medical bills, and unexpected expenses.
- Withdraw funds as needed – funds can be used for any purpose.
- The interest rate can fluctuate.
- During the first 7 years, known as the draw phase, the minimum monthly payment will equal 1% of the principal outstanding balance or $75.00, whichever is greater.
- After the draw phase ends, the repayment phase will begin. The length of the repayment phase is 15 years.
- The minimum monthly payment will equal an amortized payment of the loan balance or $75.00, whichever is greater
- Borrow up to your available loan amount whenever you need money.
- Can be tax-deductible.**
New HELOCs Introductory Rate
- Intro rate of 2.99% for 6 billing cycles from the open date.
- After 6 billing periods, an ongoing variable rate will apply, currently as low as 7.50% APR
- After the promotional period, the rate will revert to the borrowers’ standard rate of prime + margin based on their qualifying credit score, floor rate listed below.
- The promotional rate is an introductory rate for applications beginning December 15, 2023.
- Although no specific end date has been determined, the offer could end at any time.
- The minimum line of credit to establish is $10,000. No minimum loan funding amount is required.
- All processing fees apply.
- The maximum loan-to-value is 90%.
APR = Annual Percentage Rate
*Home Equity Loan: An APR of 5.50% would require a monthly payment of $6.88 per $1,000 borrowed. The payment example does not include amounts for taxes and insurance premiums; the actual payment obligation will be greater. The rate may vary depending on each individual’s credit history and underwriting factors. All Credit Union loan programs, rates, terms, and conditions are subject to change at any time without notice.
**Consult your tax advisor regarding the deductibility of mortgage interest and charges.
***Home Equity Line of Credit: The Annual Percentage Rate is based on the value of an index. The index is the highest Prime Rate published in The Wall Street Journal on the last business day of the month. To determine your Annual Percentage Rate applied to your line, we will add a margin to the value of the index. The minimum Annual Percentage Rate is 4%. The maximum Annual Percentage Rate that can be charged is 18%. The line has a variable rate feature and the Annual Percentage Rate and the minimum monthly payment can change as a result. The rate can be adjusted monthly. You could pay certain fees to third parties to open a line. These fees generally total between $150 and $900. If you have an outstanding balance of $10,000, the minimum monthly payment at a rate of 1% would be $100.00 for 7 years (the “draw phase”) from the date of the agreement. After the draw phase ends, you must pay the outstanding balance on your line of credit (the “repayment phase”). The length of the repayment phase is 15 years. Your minimum monthly payment will equal an amortized payment of the loan account balance or $75.00, whichever is greater. This balance will be amortized over 180 months. The minimum payment will change whenever the annual percentage rate changes. Your loan payments will recalculate each month in order for your loan to be paid in full during the repayment phase. If you had an outstanding balance of $10,000 at the beginning of the repayment phase, the minimum monthly payment at the maximum ANNUAL PERCENTAGE RATE of 10% would be $107.46. Other terms and conditions apply based on the type of loan you establish.
Property insurance is required.
