CV Loans
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Farmers Insurance Federal Credit Union

Routing Number: 322077795

Contract Value (CV) Loans

Special Terms For Agents

Farmers Agents have a secret weapon: Contact Value (CV). Unlike banks, we understand your business model and let you borrow against your CV, at exceptional rates,  giving you more flexibility to grow your business faster while managing cash flow.   

You’ll get rates and terms banks can only dream about offering (if they qualify you at all).  You’ll also enjoy no prepayment penalty, no application fee, and no annual fee.

Borrow against your established Contract Value:
•    Rates as low as 8.24% APR†
•    Up to a 7-year term
•    Folio deduction required

How much can you borrow:
•    For general purposes—Borrow up to 60% of your Contract Value*
•    As down payment on Commercial Real Estate (CRE) Property—Borrow up to 75% of your Contract Value*
•    For an Agency Acquisition—Borrow up to 75% of your Contract Value*

Easy application process so you get your money quickly!
Apply Now
 

†APR=Annual Percentage Rate. Rate shown is FIGFCU’s preferred rate, based on credit worthiness and minimum FICO Score. Other Rates and terms may be available and may change at any time, without notice, and are subject to credit approval. The quoted preferred rate reflects a 2.00% Discount: In order to qualify for the 2.00% discount, agent/borrower must maintain Direct Deposit/Net Check going into their FIGFCU Checking Account (either High Yield or CashBack) in the amount of $1,000.00 or more monthly and Automatic Payment/Folio Deduction for the entirety of the Loan, if either feature is discontinued, the 2.00% discount will be forfeited. 

*Agents and DMs: Borrow up to 75% of contract value for an agency acquisition loan or down payment on commercial real estate. Borrow up to 60% of estimated contract value. Agents and DMs: Should a UCC not be on file for an account holder/borrower and their respective agency on another account, one will need to be filed upon the funding/opening of this Credit Line. At such time the prevailing rate/cost for filing a UCC will be assessed against the account holder/borrower.
 

DIRECT DEPOSIT / 2% LOAN DISCOUNT PROMOTION: Up to 2.00% APR (Annual Percentage Rate) discount on qualifying loan is for a current or newly established minimum of $1,000 monthly Direct Deposit or Agent Net Check into a Farmers Insurance Federal Credit Union Checking Account and Automatic Payment/Folio Deduction as a repayment method to qualify. Offer subject to change or cancellation at any time. Direct Deposit loan rate discount available if at a time prior to loan funding (a) Member has a current or newly established recurring monthly Direct Deposit of at least $1,000 from net pay, pension, or government benefits, and (b) Member is obtaining a FIGFCU loan. Maximum available loan rate discount of 2.00% if Member is eligible to combine Direct Deposit discount with other available discount a maximum of 2.00% shall be applied. If Direct Deposit stops before loan is paid off, loan interest rate will increase by 2.00%. Other restrictions may apply. All loans are subject to credit approval. Rate and terms are subject to change without notice. 

Promotion Offering applies only to Consumer accounts, which must be in good standing. Guardian, rep payee or executor, collections charge-off, business, and/or organizational accounts are ineligible. Must be 18 years of age or older. FIGFCU reserves the right to end or modify this promotion without notice. Member cannot take advantage of this promotion more than once. Promotion cannot be combined with any other account promotion for a discount over 2.00%. Visit figfcu.org for account details, minimums, and fees. Federally insured by NCUA. Subject to employer and/or payer terms and conditions. FIGFCU will generally post payroll Direct Deposits on the day they are received, other exceptions may apply. Promo Period: September 3, 2024, until December 31, 2024. (Terms updated 11/14/24). Signature Loans, Business Signature Loans and Agency Acquisition Loans not eligible for refinancing. 

Available to new and existing Members who apply for eligible loans during the promotional period. Direct Deposit in the amount of $1,000.00 or more monthly or Agent Net Check into a FIGFCU Checking account (either High Yield or CashBack) and Automatic Payment/Folio Deduction to the loan is required. Signature Loans, Business Signature Loans and Agency Acquisition Loans not eligible for refinancing. Refinance Fees are as follows: Vehicle Loans - $200 refinance fee unless $4,000 in new money is added to the loan. Agency/Business Secured Loans - $400 refinance fee unless $10,000 in new money is added to the loan. Home Equity Loans/HELOC's - $500 refinance fee for loans booked within the last 12 months unless $20,000 new money is added to the loan. Interest rate shown on final loan disclosures will be the higher rate prior to the discount. Loan will be booked with the lower discounted rate. Direct Deposit Addendum will be signed with closing loan disclosures.