Home About Us Savings & Checking Mortgage Program Tuition Program News & Notes Morgan's Memos Privacy Policies Rewards Signature Loans Contact Us Auto Loan Rewards Program The Auto Loan Rewards Program is extended to all members applying for used or new cars. This is just another way DOY rewards their members who use DOY for their financial needs. **Mortgage > $20,000 to $75,000 25 pts **Mortgage >$75,000 50 pts Savings (yr avg.) over $20,000 50 pts Savings (yr avg.) > $10,000 but < $20,000 25 pts Checking Account 25 pts Club Member yr avg. > $500 (e.g. Xmas) 20 pts *Auto Loan (current or previous) > $10,000 25 pts *Auto Loan (current or previous) > $25,000 35 pts With this program you could reduce your car loan rate significantly by being a loyal DOY borrower or saver. Currently a new car loan is 2.99%. With the Rewards Program, your rate could be as low as 2.49%!!! ***DOY Signature Loan Rewards Program Suspended*** The DOY Rewards Program is currently suspended as the rates on Signature Loans have been decreased to record low rates. Points are assigned to the program or programs used (0.10% is equal to 10 points). This determines the amount to deduct from the Big Borrower Signature loan rate. **Mortgage > $10,000 but < $20,000 25 pts **Mortgage > $20,000 but < $75,000 50 pts **Mortgage > $75,000 75 pts Checking Account 50 pts Savings (yr avg.) > $20,000 50 pts Savings (yr avg.) > $10,000 but < $20,000 25 pts Club Member yr avg. > $500 (e.g. Xmas) 20 pts *Auto Loan (current or previous) > $10,000 25 pts *Auto Loan (current or previous) > $25,000 35 pts As an example, you have a checking account (50 pts) and have a mortgage loan that originally had a balance over $75,000 (75 pts). Your savings account average over the past year is over $20,000 (50 pts), and you have a car loan that the initial amount borrowed was over $10,000 (25 pts). This gives you a total of 200 pts. That's a 2.00% interest reduction off the "Big Borrower Signature Loan"! Currently, the Big Borrower rate is 5.99%. Using the example above, you would qualify for 3.99% rate. How about paying off a credit card balance with that rate! *If you have had more than one car loan over the past 10 years, the two highest loans would be used. **If you have had more than two mortgages from two different houses over the past 10 years, both loans would be used. 1st and 2nd mortgages can be added to obtain the higher reward. Mortgages paid off early by 60 or more months can not be used in the Reward's Program. *** The lowest reward rate you can attain is 3.50%. Rewards are not transferrable to another account even if you are a joint owner on another family member's account. Big Borrower/Loyalty Rewards are currently suspended. By participating in DOY's secured borrowing programs, you can save big on getting a very low signature loan rate on DOY's Big Borrower or Loyalty Signature Loans. To qualify for a Big Borrower/Loyalty Signature Loan, you must have or had a qualifying mortgage or secured loan that had an initial loan amount of $5,000 or more. All mortgage loans and most auto loans would qualify for the Big Borrower or Loyalty Loan. The more you use DOY, the lower the interest rate on this loan. Big Borrowers and Loyalty Members currently receive a special lower rate but depending on how many other programs you use, the rate can go even lower. DOY has suspended its BIGBorrower/Loyalty Rewards Program as the current rates on Signature Loans are at an all time low. DOY Federal Credit Union 1500 Gypsy Lane, Youngstown, OH 44505 Phone: 330-744-5680 | Email: info@doyfcu.com