Loan Rates
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Home Equity Loans *
(Prime rate) as listed in the Wall Street Journal on the last day of the previous monthLoan Type Term APR* Home Equity Line of Credit Please note that Home Equity Loans are Temporarily Suspended5 year draw period interest only, 15 year payback Prime Rate 8.50%, currently 7.50% Variable ^^
^^HELOC 4% floor applies.
$250 application fee. Interest may be tax deductible. Consult your tax advisor. -
2nd Mortgages
*Independence mortgage replaces a first mortgage and must be in first position on your deed. $500 closing fee applies for Independence and 2nd Mortgages.Loan Type Term APR* Independence Mortgage* 5 years 4.74% Independence Mortgage* 10 years 4.99% Independence Mortgage* 15 years 5.49% Independence Mortgage* 20 years 5.74% Second Mortgage 5 years 5.49% Second Mortgage 7 years 6.00% Second Mortgage 10 years 6.00% Second Mortgage 15 years 6.25% Second Mortgage 20 years 6.50% -
Traditional Vehicle Loans
*** NADA used auto values can be found at NADA.com ****Recreational vehicles, including motorcycles, boats, ATVs, snowmobiles and jet skis - rate is 2% higher than new auto loan. ***** Used vehicles model year 2016-2017 will pay an additional 1% interest. Model years 1014-2015 will pay an additional 2% Model years older than 2012 will pay personal loan ratesLoan Type Term APR* New Auto, 100% financing up to 24 months 4.74% New Auto, 100% financing up to 36 months 5.24% New Auto, 100% financing up to 48 months 5.49% New Auto, 100% financing up to 60 months 5.49% New Auto, 100% financing up to 72 months 6.24% New Auto, 100% financing up to 84 months 7.24% Used Auto, 100% NADA *** up to 36 months 5.24% Used Auto, 100% NADA *** up to 48 months 5.49% Used Auto, 100% NADA *** up to 60 months 5.49% Recreational Vehicles **** up to 72 months Auto loan rate
+ 2.00% -
Personal Loans
includes Signature and Overdraft Protection
*Debt consolidation loans are personal loan rate +3%Loan Type Term APR* Student / Computer up to 24 months 9.99% Personal Loan* up to 36 months 9.99% Personal Loan / Overdraft up to 60 months 12.99% Student Loan up to 96 months 8.00% Home Improvement up to 120 months 9.00% Credit Builder Loan up to 12 months 18.00% VISA® Classic 14.99% VISA® Platinum 9.99% -
Share Secured Loans
Share secured loans are based on the security of your savings, and you will receive the quoted rate regardless of your credit score.Loan Type Term APR* Share Secured up to 36 months 5.20% Share Secured Credit Builder Loan up to 12 months 5.20%
*all loan rates are quoted “as low as”. Your actual rate will be based on your credit score obtained by Members Credit Union. Rates and requirements may change at any time without notice. Full disclosures on Home Equity and Second Mortgages here.