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Checking

Type APY as high as
Priority 2.27%
Flagship   .50%
Rates subject to change
APY=Annual Percentage Yield
Rates Effective May 01, 2017
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Savings

Type APY as high as
Savings    1.25%
IRA Savings    1.25%
Share Certificates 2.07%
Rates subject to change
APY=Annual Percentage Yield
Rates Effective May 01, 2017
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Auto/Vehicle Loans

Type APR as low as
New Auto 1.49%
Used Auto 1.49%
RV 5.74%
Rates subject to change
APR=Annual Percentage Rate
Rates Effective May 01, 2017
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Apply for your Auto Loan Online

Home Loans

Type APR as low as
15 Year Fixed 3.340%
30 Year Fixed 4.000%
5/1 ARM (30 Year) 3.391%
Rates subject to change
APR=Annual Percentage Rate
Rates Effective April 05, 2017
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Visa® Credit Cards

Type APR
Platinum 7.75% - 12.99%
Rewards 9.25% - 14.99%
Secured 12.99%
Rates subject to change
APR=Annual Percentage Rate
Rates Effective April 01, 2017
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P.O. Box 619001 MD 2100, HDQ
DFW Airport, TX 75261-9001
(800) 533-0035
(817) 952-4500 | Outside USA, Canada, Puerto Rico, & U.S. Virgin Islands
ABA / Routing # 311992904

Auto Loans

Loan Qualification Guidelines

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American Airlines Credit Union Loan Qualification Guidelines

When buying your next new or used vehicle, it’s helpful to understand American Airlines Credit Union’s guidelines for approving you for the loan.

When reviewing auto loan requests, American Airlines Credit Union Loan Officers consider "the three Cs of Credit" - Character, Capacity, and Collateral.

Character: Good character is evaluated based on stability and good credit history.

  • Indicators of stability include:
    • Time with current employer
    • Length of time in a particular industry
  • Indicators of acceptable credit include:
    • All credit accounts generally being paid on time
    • All credit accounts being current
    • No accounts being in "collection" status
    • No accounts being "charged-off" as bad debt

Capacity is a measure of a borrower's ability to repay debt and American Airlines Credit Union Loan Officers consider two measures when evaluating loan applications.

  • "Debt-to-income ratios"

Those ratios are calculated by dividing applicants' monthly living expenses by their monthly incomes. For example: $800 in expenses divided by $2,000 in gross monthly income results in a debt-to-income ratio of 40%. Acceptable debt-to-income ratios generally range from 38% to 46% depending on applicants' income levels.

  • Amount of "unsecured debt"

This type of debt includes credit cards, lines of credit and personal loans. Any loan that doesn't have collateral.

Collateral is property pledged by borrowers to protect lenders' interests.

  • Collateralized loans generally offer much lower interest rates than non-collateralized loans.
    • Borrowers agree to allow liens to be filed against property that has been pledged as collateral.
    • Collateral can be seized and sold to satisfy debt in the event of default by borrowers.
  • American Airlines Credit Union accepts several types of property as collateral for loans.
    • New and used vehicles such as:
      • Autos
      • Boats
      • Airplanes
      • Recreational Vehicles (motorcycles, all-terrain vehicles, tractors, etc.)

       

The preceding explanations are intended to educate member-owners about American Airlines Credit Union's lending practices. Each request for credit is evaluated on its own unique merits.

Drive Your Savings Home Apply Online or speak with a Phone Loan representative at 800 533 0035 extension 36222. Apply Now Auto Lending Calculator

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