You can overcome credit challenges and get help repairing your credit with our NewPoint loan programs. With the recent economic climate making money matters harder for just about everyone, KeyPoint Credit Union's NewPoint loan program makes it easier to take out a partially secured loan or line of credit — even with past financial challenges. If you've been turned down elsewhere or are new in the country, KeyPoint Credit Union's NewPoint program may be able to help you get on track to establish, repair or rebuild your credit. Give us a call at (888) 255-3637 and find out if KeyPoint Credit Union can help you.
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NewPoint Partial Secured Loans |
NewPoint Partial Secured Lines of Credit |
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Apply Now |
Apply Now |
| Amount You Can Borrow |
For a Loan, borrow from $1,500 up to $10,000. You have pre-determined monthly payments.
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For the Line of Credit, borrow from $1,500 up to $10,000. You pay the money back only when you use it. |
| Collateral |
*Collateral Requirement 50% to 75% of the loan amount secured in a KeyPoint Share Account
Your loan can even be secured by a third party's share account.
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*Collateral Requirement 50% to 75% of the loan amount secured in a KeyPoint Share Account
Line of credit is subject to a $25.00 annual fee.
Your loan can even be secured by a third party's share account.
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| Access to Funds |
Use the money to pay for whatever comes your way – emergencies, a special purchase, or planned expenses.
Extra money offers you peace of mind for health expenses, school tuition, and other unexpected needs. |
Use the money to pay for whatever comes your way – emergencies, a special purchase, or planned expenses.
Extra money offers you peace of mind for health expenses, school tuition, and other unexpected needs. |
| Minimum Monthly Payment |
Based on final loan amount, rate and term. |
Personal Line of Credit minimum payment is $25.00 or 2% of outstanding balance.
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| Annual Percentage Rates |
Rates as low as 11.74% APR* and terms up to 36 months**. |
Personal Line of Credit is a variable Rate line based on the Wall Street Journal rate plus a margin.
Rates as low as 11.74% APR*** |
| Additional Features |
You may be eligible for a rate reduction when you arrange to make your loan repayments through Direct Pay from a KeyPoint Checking or Savings account. |
The Line of Credit makes excellent overdraft protection for your KeyPoint Checking Account.
You may be eligible for a rate reduction when you arrange to make your loan repayments through Direct Pay from a KeyPoint Checking or Savings account.
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Get Started and Apply Today
- Apply online for your NewPoint Loan to help establish, rebuild or repair your credit or call (888) 255-3637 to submit an application over the phone.
- If approved, a loan representative will contact you to review rates, discounts, documents needed and schedule an appointment.
- Sign loan documents.
- Receive loan funds.
*Funds held as collateral in the KeyPoint Share account will be placed on hold and will not be available until the NewPoint Loan or Line is paid in full and closed. Third party required to sign pledging their KeyPoint shared account for collateral
** The fixed Annual Percentage Rate (APR) is a sample APR. Rates Range from 11.74% to 15.74% and terms from 24 months to 36 months based on actual credit.
***The Annual Percentage Rate (APR) is variable and is based on the Prime Rate as published in The Wall Street Journal Money Rates Table (the \"Index\") plus a margin. Rates range from prime plus 8.49% to prime plus 12.49%. The minimum monthly payment is the greater of $25.00 or 2% of the outstanding principal balance of the credit line plus accrued interest and other fees and charges billed to the account during the monthly billing period.
New Point Line or Loan rates may be reduced by a maximum total discount of .25% if you have Automatic Loan Payment from a KeyPoint Credit Union Checking or Savings account.
Rates are subject to change. Certain restrictions apply.
Payment Examples:
Pay $46.97 per month per $1,000 borrowed at 11.74% APR for 24 months
Ask a KeyPoint Credit Union representative for a payment example on the loan type, amount and term you want.