Thank you for inquiring about Connex Credit Union’s Undergrad Student Loan program. Due to recent unforeseen changes impacting our Student Lending Program, Connex is no longer accepting new student loan applications. If you have any questions regarding a current or pending student loan application, please contact us at 1-800-CR-UNION (203)-603-5700.
If you already have a line-of-credit and need to request additional funds, please click here.
Additional Loan Options
While we’re sorry for the inconvenience this may cause, we’ve found that many members have selected our other funding options for education expenses. We are pleased to provide you with two special offers:
Home Equity Line of Credit - 2.99% APR* for six months
Similar to a student loan, a Connex Home Equity Line of Credit lets you borrow only what you need when you need it. And your rate starts at a low fixed 2.99% APR* for the first six months and a variable rate thereafter. Payments are interest only during the 10-year draw period.
If you prefer a fixed rate, our Home Equity Loans offers rates as low as 3.99% APR* with 7 and 10-year terms.
Personal Loan - 7.99% APR** for up to five years
This could be the perfect solution to help cover a college semester or any other need.
Both options offer no application fee, no annual fee and no closing costs. These offers are good through August 31, 2018.
Our Financial Advocates are always available to help find the right loan for you! Call or stop by a branch today.
* HOME EQUITY LINE OF CREDIT: APR = Annual Percentage Rate. The Promotional Annual Percentage Rate (APR) of 2.99% is fixed for the first 6 full billing cycles from origination. After the fixed rate promotional period, the APR is a variable rate based on the Wall Street Journal’s Prime Rate minus 0.25%. As of 6/13/2018, Prime Rate is 5.00% with an APR of 4.75%. After the first 6 full billing cycles, the APR will never go below 3% and the maximum is 18%. The maximum combined (existing mortgage loan balances plus Home Equity Credit Line limit) loan-to-value ratio (LTV) is 80% of market value. The minimum line of credit amount is $10,000. The maximum line of credit is $300,000 with LTVs up to 80%. The minimum credit advance that you can receive is $500. Third party fees may need to be reimbursed if the loan is closed within the first 24 months. HOME EQUITY LOAN: A loan amount of $100,000 and greater has a 3.99% APR and is representative of a 7 and 10-year term home equity loan in first lien position with no points, and up to 80% loan-to-value (LTV). A loan amount of less than $100,000 has a 4.24% APR and is representative of a 7 and 10-year term home equity loan in first lien position with no points, and up to 80% LTV. PAYMENT EXAMPLE: A loan at an APR of 3.99% would have 120 months principal and interest payments of $10.11 per $1,000 borrowed. A loan at an APR of 4.24%, would have 120 months principal and interest payments of $10.24 per $1,000 borrowed. There is no application fee, no closing costs, no annual fee. Proof of homeowners insurance required. CT owner-occupied properties only. Programs, rates, terms, and conditions are subject to change and may be withdrawn without notice. Other terms and conditions may apply. A $25 balance in your Connex share savings account required. Up to 100% loan-to value financing available, higher rates apply. Interest may be tax deductible, please consult your tax advisor. All loans are subject to credit and underwriting approval. Refinancing existing
Connex home equities not eligible.
**PERSONAL LOAN: APR = Annual Percentage Rate. 7.99% is for personal loan term up to 60 months. At a 60 month term loan the monthly payment would be $20.27 for each $1,000 borrowed. Other rates and terms are available. Maximum loan amount is $20,000. Programs, rates, terms, and conditions are subject to change and may be withdrawn without notice. The rate you pay will be determined by the term of the loan, your credit history, and other factors. Rates available on approved credit. A $25 balance in your share savings account is required.
Other terms and conditions may apply. Refinancing existing Connex loans not eligible. Offer good through August 31, 2018.