Featured Rates

New Horizons Credit Union offers a wide array of loan products at affordable rates and terms for every phase of our member's lives and offer "solutions for the real world."  Any member, in good standing, may apply for a loan.  We offer an Online Loan Application to make applying for a loan - quick, easy and hassle-free. Plus, we offer convenient branch appointments for those who prefer to apply in person.  Branch appointment can be made by clicking here.   All rates and terms are based on an evaluation of applicant's credit and may vary.  All loans are subject to credit approval. New Horizons Credit Union does not refinance it's own loans.

Our Credit Union has a loan to fit most any need with:
* No payment for 90 day option on most consumer loans excluding our Credit Rebuilder Loan,         Fresh Start Loan, Start Me Up Loan, Visa® Credit Cards, and Mortgage/Home Equity Loans.
*Competitive Rates
* Flexible Terms
* Credit Life & Credit Disability Insurance
* Extended Warranty & Gap Coverage
* No hidden charges or pre-payment penalties
* Interest calculated on unpaid balance daily
& Now, for a limited time - enjoy a loan rate discount when you apply ONLINE*

Limited Time .25% APR* Online Loan Rate Discount Special

Apply ONLINE only to qualify for a .25% APR* loan rate discount.  New Horizons Credit Union offers a convenient way to apply for loans online with the convenience of Electronic Loan Signatures.

  • Quick.  With our Online Loan Application and Electronic Signature capability, there's no need to wait.  You can complete the loan documents instantly.
  • Safe.  Our Electronic Signature capability provides a safe and secure signing option with no need to print out, mail, fax, or visit a branch.
  • Convenient.  You can even use our Electronic Signature capability on your mobile device.

*APR - Annual Percentage Rate.  This .25% APR* loan rate discount is a limited time offer thru September 30, 2021 for qualifying members who apply for a consumer loan using NHCU's Online Loan Application available thru the website at NewHCU.org.  All loans are subject to credit approval.  Rates are based on an evaluation of applicant's credit and may vary.  Offer cannot go below NHCU loan floor rate for any loan product or be applied to existing NHCU loans.  This offer may be extended, cancelled, or withdrawn at any time.  Existing NHCU loans do not qualify for refinancing.  Horizons Heroes Accounts do not qualify.  This offer does not apply to Mortgage/HELOC products, Credit Cards, or Share/Certificate Secured Loans.  Contact the Credit Union at 251-316-3240 for specific questions or details.



BELOW IS A LIST OF OUR CONSUMER AND UNSECURED LOANS, RATES & TERMS.  
(For Mortgage & Home Equity Products - click here.)

 

Horizons Heroes Account (Loan rate discount)* 


Here's how our Horizons Heroes Account works:

Active first responders*, military personnel, physicians, nurses, and  current educators (teachers/professors) may qualify for a "Horizons Heroes" account. To receive the following perks, members must have the following with New Horizons:
  • Savings Account
  • Checking Account 
  • Direct Deposit, or Automatic Payment, or E-Statements 
Horizons Heroes will receive:
  • .25% APR* discount on Consumer & Personal Loans**
  • .25% APY increase on our Certificate Account Rates***
  • Free 24/7 Online & Mobile Banking 
  • Free access to over 55,000 ATMs through Allpoint ATM Network 
  • Free 24/7 Voice 24 Telephone Account Access
  • Free Notary Services
*The online loan application discount does not apply to this account type. For full details on our Horizons Heroes Accounts, click here.
 
 

Coronavirus Assistance Loan

New Horizons Credit Union is helping to serve our members that have been impacted by the Coronavirus.   We've developed an emergency loan product with special terms and created additional services to support our members. 

* Must be a New Horizons Credit Union member in good standing to qualify for assistance.
* Proof of Hardship may be required, and loans will be subject to credit approval.
*  A Coronavirus Assistance Loan will be funded to Members who have been approved.
* Other conditions and restrictions may apply.

Please contact any Branch Lender at 251-316-3240 for further details, or click here to apply.


New & Used Auto Loans  - No Payment for 90 days option.

Up to 100% financing with approved credit up to MSRP for New Autos and up to 100% NADA Retail on Used Autos. Other conditions and restrictions may apply. Existing New Horizons Credit Unions loans do not qualify for refinancing. Terms and rates are based on an evaluation of applicant's credit and may vary.  All loans are subject to credit approval. Other rates and terms are available for new and used auto loans.

Loan Type Term Rate As Low As
New/Used Auto (2017 & Newer) up to 48 Months 1.99% APR*
**(Conditions & Restrictions
may apply.)
(Other terms available)
(Other Rates Available)


Pre-Approved Auto Loan (PAL) & PAL Check

A pre-approved loan (valid for 60-days) puts you in the best bargaining position with the dealer because it's like shopping with cash, allowing you to negotiate the best price without financing involved in the discussion.  There is no fee to get pre-approved, and we'll work with you to determine a price range to fit your monthly budget.  For added assistance, once approved - we can provide you with a PAL Check for a nominal fee.  The benefit of the PAL Check happens when you've found the car of your choice, then, simply endorse your PAL Check, give it to the dealer, and drive home in your new car.  Ask any NHCU Loan Officer for more information.

Buying a Pre-owned Car?

Check its vehicle record first to protect yourself from potential problems down the road. New Horizons members can request a CARFAX® report directly from us for just $16.99 (retail value is $34.99).  If you can finance with New Horizons, this fee will be refunded following the loan disbursement.  This is not valid on existing New Horizons loans.

 

*Qualifying members may elect to have "No Payment for 90 Days" on most consumer loans excluding Credit Cards, Mortgage & Home Equity Products, Credit Rebuilder Loan, and Fresh Start Loan. Existing NHCU auto loans do not qualify for this offer or rate. All loans subject to credit approval. Credit Union reserves the right to terminate offer at any time. All rates subject to change. Maximum annual percentate rate shall not exceed 18.00% APR. Existing New Horizons CU loans do not qualify. At 1.99% APR* a loan amount of $20,000 and a term of 48 months, the monthly payment would be $433.82. Taxes and insurance may cause your payment to be higher.  This offer includes new and used cars and trucks. With the no payment for 90 days, interest will accrue from the date of contract. Call 251-316-3240 for details on the no payment for 90 day option.  APR - Annual Percentage Rate.


Start Me Up Auto Loan (First Time Car Buyer)


This loan program is designed to help qualified members, such as college graduates, first time car buyers, and those wishing to establish or re-establish credit and start their financial journey with the opportunity to purchase a vehicle and borrow at an affordable interest rate.  A New Horizons Credit Union Checking Account is required for this auto loan type. Maximum loan amount is up to $25,000 for a maximum term of 72 months. For details on the Start Me Up Program, contact the Credit Union at 251-316-3240 or visit any New Horizons Credit Union branch. This program is subject to change. Please contact the Credit Union directly for the most current  rate and term information. Rates and terms based on an evaluation of applicant's credit and may vary.  All loans subject to credit approval.





Credit Rebuilder - Auto Loan


We understand some members may have past credit issues and may want an opportunity to rebuild their credit.  This loan type may be perfect for those situations because the Credit Union may grant an auto loan to members who have filed Chapter 7 or Chapter 13 bankruptcy (must be discharged for six months and is not in active chapter 13).  For details on this Credit Rebuilder - Auto Loan, contact the Credit Union at 251-316-3240 or visit any New Horizons Credit Union branch. This program is subject to change. Please contact the Credit Union directly for most current  rate and term information. Rates and terms based on an evaluation of applicant's credit and may vary.  All loans subject to credit approval.




Motorcycle Loans 

Up to 100% financing with approved credit.  No Payment for 90 day option available. Rates and terms based on an evaluation of applicant's credit and may vary.  All loans subject to credit approval.  Other rates and terms are available on motorcycle loans.

Loan Type Term Rate As Low As
New/Used Motorcycle up to 48 Months 3.49% APR*



Apply for a motorcycle loan!

Recreational Vehicles (RVs, Campers, & Enclosed Trailers)

No payment for 90 day option available. Rates and terms based on an evaluation of applicant's credit and may vary.  All loans subject to credit approval. Other rates and terms are available on both new and used. 
Loan Type Term Rate As Low As
New/Used RV up to 66 Months 3.74% APR*




All Terrain Vehicle (ATVs) & Golf Cart Loans

No Payment for 90 day option available. Rates and terms based on an evaluation of applicant's credit and may vary.  All loans subject to credit approval. Other rates and terms are available on both new and used.
Loan Type Term Rate As Low As
New/Used ATVs & Golf Carts up to 36 Months 2.99% APR*




Boat, Motor and Trailer Loans

New: Up to 100% financing of the Purchase Price.
Used: Up to 100% financing of the Retail Price.
No payment for 90 day option available. Rates and terms based on an evaluation of applicant's credit and may vary.  All loans subject to credit approval. Existing New Horizons CU loans do not qualify for refinancing. Other rates and terms are available on both new and used.
Loan Type Term Rate As Low As
New/Used up to 66 Months 2.89% APR*




Farm Equipment Loans

Up to 100% of Purchase Price.
No payment for 90 day option available. Rates and terms based on an evaluation of applicant's credit and may vary.  All loans subject to credit approval. Existing New Horizons CU loans do not qualify for refinancing. Other rates and terms are available on both new and used.
Loan Type Term Rate As Low As
New/Used up to 66 Months 2.89% APR*



Apply for farm equipment loan! 


Personal/Signature Consumer Loans

No Payment for 90 day option available. This loan type can be used for a variety of purposes such as debt consolidation, emergency funds, college tuition, building credit, vacation and holiday needs, and more! Rates and terms based on an evaluation of applicant's credit and may vary.  All loans subject to credit approval. Other rates and terms are available and may vary depending on amount financed.

Loan Type Term Rate As Low As

Personal/Signature Loans

up to 24 Months

6.49% APR*






Fresh Start Loans

This type of personal loan is ideal for members who have experienced unexpected life changes which  have impacted their ability to borrow money.  We know the effects of a credit setback can last for several years.  Through our partnership with GreenPath Financial Wellness, we have created this Fresh Start Loan that may offer members an opportunity to re-establish credit with a small, short-term loan.  Minimum loan amount is $500; Maximum loan amount is $1,500; Maximum term is up to 18 months.  Must make contact with GreenPath Financial Wellness; application fee is $35 for this loan type and must show at least 6 months of non-seasonal employment.  Rate and term based on an evaluation of applicant's credit.  All loans subject to credit approval. Other conditions and restrictions apply and are available by speaking with any NHCU Loan Officer at any branch. Contact the Credit Union directly for current posted rate.



Visa® Credit Card Rates

No Annual Fee & No Balance Transfer Fee, plus earn CU Reward points on qualifying purchases.  We also offer a New Wave Youth Visa Classic Card to help our members 19-24 years of age gain experience and establish credit with lower credit limit.  Visit our Visa Credit Card page for further details and disclosure. ^


Loan Type Term Rate As Low As
Visa ® Classic
Revolving
10.50% APR*
Visa ® Gold
Revolving
8.90% APR*



Secured Loans


This program allows you to use your own funds to secure a loan. These are loans with a Share (savings) or Certificate Account used as collateral. Interest rate is as low as 4.00% Annual Percentage Rate above the posted Dividend Rate earned on the Shares or Certificate Account. A nominal one-time documentation fee may apply. This program offers a great way to establish and build credit history. Call 251-316-3240 or visit the Credit Union directly to apply for this loan type.



Mortgage Products & Home Equity Loans

For more information regarding mortgages, home equity, and home equity lines of credit (HELOC)***, please click here.



Note:  If you need the assistance of a financial coach due to credit issues - whether past or present, or just need to talk to a credit expert, our partnership with GreenPath Financial Wellness offers our members access to a confidential Virtual Financial Coach.  These experts can help you pave the way to improve credit scores and borrowing potential.



For Loan Disputes & Inquiries, please write to:
New Horizons Credit Union - Disputes & Inquiries
P.O. Box 1785, Mobile, AL 36633
or Call  Local (251) 316-3240 or Toll-Free at 1-800-824-3610 for assistance.




*APR = Annual Percentage Rate. NMLS# 410405. All rates and terms posted are effective 10/1/2020 but are subject to change. Rates and terms are based on an evaluation of applicant's credit and may vary. Other conditions and restrictions may apply. All loans subject to credit approval. Existing loans do not qualify for refinancing. Other rates and terms available based on credit history, equity in home, and length of loan. Maximum annual percentage rate shall not exceed 18.00% APR. All rates are subject to change. Maximum loan term may depend on amount of the loan. Credit Union reserves the right to terminate any loan rate or special offer at any time. Consumer loans applications will require a one-time documentation fee. Contact a New Horizons CU Loan Officer for details.
 
For comparison purposes, a 2020 model year auto for $20,000 at a term of 48 months and at a 1.99% APR* would have 48 recurring payments of $433.82; and a 2020 model year boat for $10,000 at a term of 66 months and at a 2.89% APR* would have 66 recurring payments of $164.06.  For comparison purposes, (Limited time Personal Loan Special from June 1, 2021 -August 30, 2021) a $3,000 Personal/Signature Loan for a term of 12 months at a 5.99% APR* would have 12 recurring payments of $258.00; and For comparison purposes, a $3,000 Personal/Signature Loan for a term of 24 months at a 6.49% APR* would have 24 recurring payments of $134.00.
 
^ Click here to review Credit Card Schumer box disclosure. Depending on loan type, taxes and insurance may cause your payment to be higher. New Horizons Credit Union is an Equal Housing Lender.  Contact the Credit Union directly for the most current rates and terms at 251-316-3240. 
 
The APR is the Credit Union's Standard Rate.  The rate is fixed.  The rate you may qualify to receive may vary depending on individual credit history and underwriting factors.  All Credit Union loan programs, rates, terms, and conditions are subject to change at any time without notice. Taxes and insurance will vary which may cause your payment to be higher.  Consumer loan applications will require a one-time documentation fee. Call 251-316-3240 for complete details on any of our loan products.
 
***For variable HELOC, the maximum annual percentage rate shall not exceed 18.00% APR*. Click here for more information about our Home Equity & Mortgage Products.
 
Note: APY stands for Annual Percentage Yield and is associated with deposit type accounts that earn a dividend rate.
 
Consumer Loan Payments can be mailed to P.O. Box 2966, Mobile, AL 36652