Terms & Conditions
Effective: The offer period begins on January 24, 2025, at 12:01 a.m. Eastern Time and ends on March 31, 2025, at 11:59 p.m. Eastern Time (the “Offer Period”).
This document highlights the details by which Owners of Libro Credit Union may accept a pre-approved loan offering.
Offer Description:
- The Pre-approved Loan Offering, referred hereon as “the offering,” begins on January 24, 2025, at 12:01 a.m. Eastern Time and ends on March 31, 2025, at 11:59 p.m. Eastern Time (the “Offer Period”).
- The offering exclusively applies to pre-approved unsecured personal loans extended to eligible Owners who have received communication indicating their qualification for the pre-approved offering.
- The offering pertains exclusively to unsecured personal loans, based on the financing amount specified in the personalized offering received via email or direct mail.
- An unsecured personal loan is defined as a loan lacking collateral security for repayment.
- The final loan amount may exceed the preapproved offering amount solely by the single premium insurance amount.
- The loan amount may be adjusted to less than the preapproved offering amount, but more than a minimum $5,000 loan amount.
- All loan funds must be deposited into a Libro Credit Union account of the Borrower. Funds to be invested within 2 business days.
- Loans included in this offering are unsecured for a term up to 7 years.
Offering Requirements:
- No additional credit assessments are necessary to qualify for the offering, additional suitability assessments may be needed if invested into an Aviso Wealth registered investment.
- Eligible Owners will receive customized offerings outlining options for interest rates related to
- Special lending rates: This option is applied to Libro Owners who use the offering to fund a Libro registered investment, or registered investments through Aviso Wealth.*
- Libro Owners that choose to use the offering to fund investments elsewhere will receive Libro standard lending rates.
- Eligible Owners who choose to invest with Aviso Wealth will need to meet with an Aviso Wealth advisor and complete an additional investment suitability assessment to determine if this strategy is suitable.
- Insured promotional lending rates: This option provides an unsecured personal loan with a reduced interest rate, contingent upon enrolling in creditor insurance through CUMIS.
- To secure the insured promotional lending rate, Owners must enroll in CUMIS creditor Life and Disability insurance products.
- Applicants must meet CUMIS underwriting qualifications to qualify for CUMIS creditor insurance.
- If an Owner opts out or is unable to enroll or qualify for the insurances, they will receive the insured promotional lending rate or Libro standard rate.
- The promotional lending rate and Libro standard rate, offer an unsecured personal loan with a competitive interest rate, unaffected by creditor insurance requirements.
- Special lending rates: This option is applied to Libro Owners who use the offering to fund a Libro registered investment, or registered investments through Aviso Wealth.*
- If Libro becomes aware of funds being removed from the investment account before the loan is paid in full, the special lending rates will be removed, and the loan will be subject to standard lending rates.
- The Offering is not accessible to Owners who have not received targeted communications via email or direct mail.
- Libro Credit Union retains the right for its employees to initiate contact with eligible Owners to discuss this offering.
- This Offering cannot be combined with any other lending promotional offering.
- The Offering applies solely to new loan funds and cannot be combined with other credit products or offerings.
- An unsecured personal loan is defined as a loan lacking collateral security for repayment.
- To retain the insured promotional lending rate outlined, borrowers must maintain all eligible CUMIS insurance products throughout the loan’s duration. Failure to do so may result in loan repricing at Libro Credit Union’s discretion.
- Owners must accept the Offering before March 31, 2025 by email, secure message, appointment or phone. Libro Credit Union bears no responsibility for Owners missing this deadline under any circumstances.
- Libro Credit Union reserves the right to modify the terms and conditions or withdraw the Offering at its discretion without prior notice.
* Mutual funds and other securities are offered through Aviso Wealth, a division of Aviso Financial Inc. Using borrowed money to finance the purchase of securities involves greater risk than purchasing using cash resources only. If you borrow money to purchase securities, your responsibility to repay the loan and pay interest as required by its terms remains the same even if the value of the securities purchased declines.