State Department Federal Credit Union

Overview

In 1935, originally named U.S. Department of State Employees Federal Credit Union, State Department Federal Credit Union was chartered by the efforts of eight employees of the United States Department of State. Now, over 77 years later, our membership has increased to more than 67,000 members worldwide. Not only has our membership grown, but our services have expanded as well, to include a wide range of financial products. Though our membership has increased, we have remained committed to providing our members with premier financial services.

Loan Features

Home Equity Loans
Fixed Rate:
Up to a maximum loan amount of $500,000
125 percent LTV for qualified members for up to $100,000 (primary residence only) (1) The interest on the portion of the credit extension that is greater than the fair market value of the dwelling is not tax deductible for Federal income tax purposes; and (2) The consumer should consult a tax adviser for further information regarding the deductibility of interest and charges
70 percent LTV of up to $50,000 for investment properties
Rates available depending on an applicant’s creditworthiness

Variable Rate:
Up to a maximum loan amount of $300,000
Low variable interest rates up to 95% Loan-to-Value (LTV)
Rates available depending on an applicant’s creditworthiness

Mortgage
Fixed:
Consistent rate and predictable mortgage payment that remains the same for the life of the loan
Low interest rates
No application fee
FREE 60-day rate lock
No prepayment penalty
Lifetime loan services by an SDFCU agent

Adjustable:
Low down payment
Very low interest rate in the beginning that changes after a pre-determined number of years
Low interest rates
No application fee
No prepayment penalty
Lifetime loan services by an SDFCU agent

1st Time Homebuyer Mortgage Option
As intimidating as it can be, buying your first home is a wonderful and exciting experience – especially if you educate yourself about the process beforehand. Owning a home that best fits your needs helps you establish credit, receive tax benefits, and build home equity. SDFCU will be with you every step of the way with great loan products created just for you.

A low three percent down payment (97 percent Loan-to-Value)
A consistent and predictable fixed rate mortgage payment that remains the same for the life of the loan
Low interest rates
No application fee
FREE 60-day rate lock
No prepayment penalty
Lifetime loan services by an SDFCU agent
Available in all 50 states

5/5 Product Loans
A good loan option for the first-time home buyer
No application fee
Free 60-day rate lock
No prepayment penalty
Lifetime loan services by an SDFCU agent
No private mortgage insurance required

Super Conforming and Jumbo Loans
No application fee
No prepayment penalty
Lifetime loan services by an SDFCU agent
Covers loan amounts greater than $424,100

Home financing while overseas
No application fee
No prepayment penalty
Lifetime loan services by an SDFCU agent

Second Homes/Vacation Homes Loans
No application fee
No prepayment penalty
Lifetime loan services by an SDFCU agent
Choose from terms up to 30 years, fixed or Adjustable Rate Mortgages (ARMs)

Personal Loans
Flexible terms
One easy monthly payment
No prepayment penalty
Pay for unexpected emergencies
Payments can be automatically deducted from your account
New money only – cannot be used to refinance an existing SDFCU loan.
Loan amount minimum is $500.

Share Secured Loan
Loan is fully secured by the funds in your Regular Savings Account or CD
Because you are borrowing from yourself, the loan is provided at a much lower rate than other loans
Continue to earn dividends, while getting the money you need
Establish or rebuild credit
No prepayment penalty
Low rate with terms up to 60 months
Flat rate
Credit check required for new members

Lines of Credit
Works much like a credit card as a revolving line of credit
No application fee
No prepayment penalty
No fees
Automatic overdraft protection for your Checking Account
Credit limits of $500 to $30,000
Funds will be available continuously, up to your credit limit, as long as you continue to pay your minimum monthly payment amount
Overdraft protection for Checking Accounts up to your approved credit limit
APR rates are subject to evaluation of applicant’s credit

Share Secured Loan
Loan is fully secured by the funds in your Regular Savings Account or CD
Because you are borrowing from yourself, the loan is provided at a much lower rate than other loans
Continue to earn dividends, while getting the money you need
Establish or rebuild credit
No prepayment penalty
Low rate with terms up to 60 months
Flat rate
Credit check required for new members

Auto Loans
Extended fixed terms of up to 84 months
Auto Express Loan Check available for well-qualified applicants
Up to 125 percent financing for well-qualified buyers, vehicles over 100 percent will include a bump in rate
Financing for members located overseas

Other Vehicle Boats and Other Recreational Vehicles Loans
New and used financing
No down payment required (100 percent financing option includes taxes, title and tags)
No boat length restrictions
No application fee
Terms tailored to fit your needs
Financing for up to 144 months on boats used as primary residence valuing $25,000 or more
Financing for members stationed overseas

Application Process

We have several ways for you to join our credit union and begin receiving the benefits of membership:
1. U.S. Department of State Employees
You may join our credit union if you are an employee of The U.S. Department of State.

2. Organization Affiliations
If you are employed by or affiliated with any of the following organizations, you may join our credit union.

3. Immediate Family Member
Members may also sponsor immediate family members who are U.S. citizens or permanent residents for Membership. This includes spouses, parents, children, siblings, grandparents, grandchildren, stepparents, stepchildren, stepsiblings and adoptive relationships. It also includes household members (persons living in the same residence maintaining a single economic unit).

4. American Consumer Council (ACC)
If you are unable to join through any of the other methods, as a consumer, you may be eligible to join our credit union through the American Consumer Council (ACC, a nonprofit advocacy group. When opening your SDFCU account you will need to choose ACC on your application.

Documents Needed for your

Car Loans (new and used)
• Loan application
• Purchase order {bill of sale} signed by
an authorized dealer rep and member
• 2 most recent pay stubs (if self employed
last two years tax returns
• Car insurance information (name of insurance
company, policy # and expiration date)
• Vehicle power of attorney
• Closed end (Form must be signed and dated
day of disbursement).

Visa Shared Secured Credit Card
• Loan application
• Truth in Lending
• Money must
• Car insurance information (name of insurance
company, policy # and expiration date)
• Vehicle power of attorney
• Closed end (Form must be signed and dated
day of disbursement).

Moneyline
• Loan application
• Revolving Line of Credi Agreement
• Truth in lending
• Two most recent pay stubs (if self employed
last two years tax returns)
• Other info/docs requested by Loan Specialist

Visa Unsecured Credit Card
• Loan application
• Truth in Lending
• 2 most recent pay stubs (if self employed
last two years tax returns
• Other info/docs requested by Loan
Specialist

Personal Loans
• Loan application
• 2 most recent pay stubs (if self employed
last two years tax returns
• Closed end (Form must be signed and dated
day of disbursement)
• Other info/docs requested by Loan Specialist

Share Secured Loan
• Loan application
• 2 most recent pay stubs (if self employed
last two years tax returns
• Closed end (Form must be signed and dated
day of disbursement)
• Other info/docs requested by Loan Specialist

Home Equity Loan
• Most recent mortgage statement ( if home
is paid in full, proof of property taxes is
needed)
• Homeowner’s insurance declaration page
(if home is a Condo, a Certificate of Insurance
is also required-if the member does not have
a copy of this, their Homeowner’s Association
should be able to provide them a copy)
• Income verfification (last two recent pay stubs
and last two years W2’s for non gov’t employees,
last two most recent pay stubs for gov’t employees
& last two years full tax returns for self-employed
applicants).
• A written statement for the purpose of the loan

Repayment Terms

Personal Loans
Up to 24 Mos 8.49%-14.83% APR
25 to 60 Mos 9.15%-17.50% APR

Moneyline Line-of-Credit
All 11.75%-16.75% APR

Share Secured Loan
All 3.10% APR

Home Equity Single Advance (Owner Occupied)
5 Year APR 4.49%-5.74%
7 Year APR 4.74%-5.99%
10 Year APR 5.49%-6.74%
15 and 20 Year APR 5.74%-6.99%

Home Equity Single Advance (Investment Property)
5 Year APR 6.75%-8.75%
7 Year APR 7.00%-9.00%
10 Year APR 7.75%-9.75%
15 Year APR 8.00%-10.00%

Home Equity 125% LTV (Owner Occupied)
5 Year APR 7.09%-7.09%
7 Year APR 7.09%-7.09%
10 Year APR 7.09%-7.09%

Home Equity Line-of-Credit (HELOC)
3.99%-5.50%

Vehicle Loans
Loan Term Up to 84 months
New Auto/Boat APR 1.74%-18.00%
Used Auto/Boat APR 2.89%-18.00%

Mortgage
Conforming Fixed to $453,100
Loan Term 15-30 years 3.125%-4.375%

JUMBO FRM
15-30 year 3.250%-4.5%

Customer Support

Department of State
Room B-641
2201 C St. N.W
Washington, D.C. 20520

703.706.5000 or 800.296.8882 in the US
Hours: 8:30AM – 4:00PM ET M-F

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