Do I need to be a Virginia Credit Union member to get a bicycle loan? Yes, you need to be a member of Virginia Credit Union. There are numerous ways that you can join. Check out here to see if you qualify for membership. Can I get a bicycle loan as a student? Yes, our bicycle loan amounts go as low as $100. We would be happy to help you with financing your bicycle. Can I include the bicycle lock, lights and helmet in the loan? Yes, Virginia Credit Union’s bicycle loan covers 100% of the bicycle and accessories. What is the amount I can borrow and length of term? Loan Terms: $100 - $499.99 = up to 12 Months $500 - $999.99 = up to 18 Months $1,000 - $1,499.99 = up to 24 Months $1,500 - $2,999.99 = up to 30 Months $3,000 - $4,999.99 = up to 36 Months $5,000 - $9,999.99 = up to 48 Months $10,000 & Higher = up to 60 Months How long do I have to pay it off? When applying for the bicycle loan, you will pick your loan’s term length. You can select anywhere between 12-60 months based on the amount borrowed. Can I pay it off early without penalty? Yes, you can pay it off whenever you want to as there is no penalty to pay a bicycle loan off early. What are the late payment fees? The late fee is 5% of your monthly payment. Can I purchase a used bicycle with this loan? Yes, you can purchase a used bicycle with this loan. If you wrote a check or paid with cash, just let us know and we’ll be happy to work with you. Why is there a difference between the rate on the website and the rate I received? There are factors that affect the rate: your credit history, your payment method and the amount you’re financing. Rates also may have changed in the time between your research and your application was submitted.