GAP Open Enrollment
We’re pleased to announce that open enrollment is again available for Guaranteed Asset Protection. Members can now add this important protection at any time during the life of the auto loan. This protection fills the critical gap between an auto insurance settlement and the loan balance, primarily during the first 48 months. For more information, please call the Loan Department at 504.862.8400.
Mortgage Rates are at Historic Lows for 15- and 30-Year Loans
Today's 30-year conventional rate is 5.25% annual percentage rate (APR) subject to adjustments. The FHA rate is even lower at 5.125% APR with no adjustments unless credit score is below 620 or loan amount is under $100,000. Refinancing a mortgage with a current rate of 6.125% would reduce principal and interest by $127 per month. With FHA, principal and interest would drop by $143. Consider financing your new home or refinancing your current mortgage with Tulane-Loyola Federal Credit Union, your financially stable, trusted advisor.