In 2013, Shambhala Credit Union established a risk-based lending program for all lending products.
Loan Officers rely on the carefully developed risk-based tiered interest rate matrix to guide loan decisions and determine the loan rate for each application. Our desire is to acknowledge our most credit worthy members while maintaining the willingness to assist members who may have weaker qualifications.
Historically we have had excellent success approving high-risk applications where other institutions may have hesitated to lend a helping hand. In this way Shambhala Credit Union has consistently worked with the underserved, usually low-income members.
2016 Risk-Based Lending Base Rates
Due to the visual complexity of showing all permutations, only Base Rates are shown.
| Loan Type | Grade | FICO Score | Base Rate |
|---|---|---|---|
| Deposit Secured | n/a | n/a | 3.00% |
| Personal Unsecured | A | 720 - 739 | 10.00% |
| Credit Card | All | All | 12.00% |
| New Vehicle - Auto / Other | A | 720 - 739 | 3.00% |
| Used Vehicle - Auto / Other | A | 720 - 739 | 3.50% |
| Business Purpose Loan | A | 720 - 739 | 9.00% |
| Partially Secured | A | 720 - 739 | 6.00% |
| Real Estate / HELOC | A | 720 - 739 | 5.75% |
| Mobile Home | A | 720 - 739 | 7.25% |
| RBL Matrix approved by the Shambhala Credit Union Board of Directors on 12/11/15. | |||
