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| Loan Type | Maximum Amount Financed | Term | *Auto-Pay APR | Monthly Payment Per $1,000 Borrowed |
| New Cars |
| 2013 - 2012 | 125% | up to 60 Months | 1.95% | $17.51 |
| 2013 - 2012 | 125% | 61-66 Months | 2.35% | $16.17 |
| 2013 - 2012 | 125% | 67-72 Months | 2.55% | $15.00 |
| Pre Owned |
| 2011 | 125% | up to 60 Months | 2.25% | $17.64 |
| 2011 | 125% | 61-66 Months | 2.65% | $16.31 |
| 2011 | 125% | 67-72 Months | 2.75% | $15.09 |
| 2010 | 125% | up to 60 Months | 2.45% | $17.73 |
| 2010 | 125% | 61-66 Months | 2.75% | $16.03 |
| 2010 | 125% | 67-72 Months | 2.95% | $15.18 |
| 2009 | 125% | up to 60 Months | 2.95% | $17.95 |
| 2009 | 125% | 61-66 Months | 3.25% | $16.57 |
| 2009 | 125% | 67-72 Months | 3.25% | $15.31 |
| 2008 | 125% | 48 to 60 Months | 3.15% | $18.04 |
| 2007 | 125% | 48 to 60 Months | 3.95% | $18.40 |
| **Auto Refinance |
| 2013 - 2009 | 125% | up to 60 Months | 1.95% | $17.51 |
| 2013 - 2012 | 125% | 61 to 72 Months | 2.35% | $16.17 |
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Rates may be higher based on applicant's credit worthiness. Rates and terms are subject to change without notice. Certain restrictions may apply.
MCU only finances vehicles purchased from a car dealer: We do not offer financing for private sales, individual sales or lease buyouts.
*Auto-Pay: When direct deposit or automatic payroll deduction is utilized as the method of loan repayment. Annual percentage rates for auto loans will increase by 1/2 % after consummation if automatic payroll deduction or direct deposit is cancelled. Annual percentage rates on unsecured loans will increase by 2% after consummation if automatic payroll deduction or direct deposit is cancelled. Late payment fee: $25.00.
** Rates range from 1.95% APR to 13.25% APR depending upon collateral, credit qualifications, and loan repayment. Auto loan must be refinanced from another financial institution.
APR = Annual Percentage Rate.
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| Annual Percentage Rate for Purchases | Grace Period for Repayment of the Balance for Purchases | Method of Computing the Balance for Purchases | Annual Fees | Minimum Finance Charge | Transaction Fee for Purchases |
| Platinum Card |
| 3.9% for the first 6 mos. Thereafter at the prevailing rate, currently 9.15%(Prime Rate+5.9%)* | Not less than 25 days | Average daily balance (including new purchase) | None | $.50 | None |
| Gold Card |
| 4.9% for the first 6 mos. Thereafter, at the prevailing rate, currently 10.15% (Prime Rate+6.9%)** | Not less than 25 days | Average daily balance (including new purchase) | None | $.50 | None |
| Classic Variable Rate |
| 5.9% for the first 6 mos. Thereafter, at the prevailing rate, currently 11.15% (Prime Rate +7.9%)*** | Not less than 25 days | Average daily balance (including new purchase) | None | $.50 | None |
| Secured Visa |
| 11.90% | Not less than 25 days | Average daily balance (including new purchase) | None | $.50 | None |
| Student Visa |
| 0.00% for the first 6 mos. Thereafter, at the prevailing rate, currently 10.15% (Prime Rate + 6.90%)**** | Not less than 25 days | Average daily balance (including new purchases) | None | $.50 | None |
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* 3.9% introductory APR for new cardholders on purchases and balance transfers for first six months. A low 9.15% variable APR after introductory period expires.The APR may vary.
** 4.9% introductory APR for new cardholders on purchases and balance transfers for first six months. A low 10.15% variable APR after introductory period expires. The APR may vary.
***5.9% introductory APR for new cardholders on purchases and balance transfers for first six months A low 11.15% variable APR after introductory period expires. The APR may vary.
****0.00% introductory APR for new cardholders on purchases and balance transfers for first six months. A low 10.15% variable APR after introductory period expires. The APR may vary.
The Annual Percentage Rate for Cash Advances for Platinum, Gold, Classic, Secured and Student Visa Cards is a fixed 17.9%.
Transaction fee for cash advances for Gold, Platinum and Student Visa is 3% of the amount advanced but not less than $2.00 or more than $30.00.
Foreign Transaction Fee for all Visa Cards is 1% of each transaction in U.S. Dollars.
Late Payment Fee for all Visa Cards: $25.00 |
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| Maximum Amount Financed | Term | *Auto-Pay APR | Monthly Payment Per $1,000 Borrowed |
| Unsecured Loan |
| $1,000 - $15,000 | up to 60 Months | 9.50% | $21.01 |
| $15,001 - $50,000 | up to 60 Months | 10.50% | $21.50 |
| $15,001 - $50,000 | up to 72 Months | 11.00% | $19.05 |
| $15,001 - $50,000 | up to 84 Months | 11.00% | $17.13 |
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| *Annual percentage rates on unsecured loans will increase by 2% after consummation if automatic payroll deduction or direct deposit is cancelled. Late payment fee: $25.00 |
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| Minimum Amount Financed | Term | Auto-Pay APR | Monthly Payment Per $1,000 Borrowed |
| Share Secured Loan |
| $500 | up to 84 Months | 4.50% | $13.90 |
| *CD Secured Loan |
| $500 | Equal to CD Maturity(up to 60 Months) | 3.00% | $8.99 |
| **Education Assistance Loan |
| $1,000 | 60 months | 8.95% | $20.75 |
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*APR for CD Secured Loan is Share Certificate rate plus 3%.
**Education Assistance Loans (EAL) - Private loans, like the MCU Education Assistance loan, can be used when federal loans, grants and other forms of financial aid are not sufficient to cover the full cost of education. MCU Education Assistance loans are subject to credit approval, receipt of a completed and signed loan application/promissory note and self-certification form, verification of application information, acceptance of loan terms, and school certification of loan amount and student's enrollment at an accredited school. This loan does not offer a deferred repayment option. Installments are due 30 days from the date of disbursement. MCU services its Education Assistance loans and does not sell them to another lender. Although a cosigner is not necessary or required to apply for a private student loan, a qualified cosigner may help you get approved for a private student loan and possibly help you qualify for a better interest rate. Borrowers and cosigners are equally responsible for repayment of the loan. Upon request by the student borrower, cosigners are eligible to be released from the loan after any 36 consecutive payments of principal and interest are paid on time. The borrower must meet MCU's established credit criteria at the time of cosigner release. Other terms and conditions apply. Benefit programs are subject to change. Maximum annual loans up to cost of attendance, less other aid, but no more than the amount certified by your school. Aggregate maximum loan limits apply. This information was current as of 1/28/2011 and is subject to change. Contact Municipal Credit Union for the most up-to-date product terms.
APR = Annual Percentage Rate. |
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| Annual Percentage Rate | Overdraft Increment | Method of Computing the Balance for Overdrafts | Annual Fees | Transaction Fee for Purchases |
| Overdraft Checking Line of Credit |
| 14.65% | $1.00 | Daily Balance (including new overdrafts) | None | None |
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| These rates are in effect as of Wednesday, May 22, 2013 |
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