Rates

Loans

These rates are in effect as of Friday, October 30, 2020.

Loan Types (Auto Model Year).Maximum Terms (Months)Auto-Pay APR*Monthly Payment per $1,000 Borrowed
Model Year  (Best loan rates available when using the MCU Car Buying Service)
2020 - 2016482.29%$21.82
2020 - 2016722.69%$15.06
2020 - 2016602.29%$21.82
2015482.29%$21.82
2015602.29%$21.82
2014482.29%$21.82
2014602.29%$21.82
Auto Refinance **
2020 - 2016482.79%$22.04
2020 - 2016602.79%$22.04
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* APR = Annual Percentage Rate. With approved credit and requires direct deposit or automatic payroll deduction as the method of repayment. Best rates available when using MCU Car Buying Service (.50% APR discount) and Auto-Pay (.50% APR discount) when direct deposit or automatic payroll deduction is utilized as the method of repayment. Discounts are reflected in the rates. The APR for auto loans will increase by .50% after consummation if automatic payroll deduction or direct deposit is cancelled. Rates may be higher based on applicant's creditworthiness, auto model year, loan term and method of repayment. Rates and terms are subject to change without notice. Certain restrictions may apply.

MCU only finances vehicles purchased from a car dealer. MCU will only finance vehicles purchased from franchise car dealers or the following independent dealers; TRUECar® Certified Dealers, Enterprise Car Sales, Carvana®, CarMax® or Hertz Car Sales®. Franchise dealers sell new and used cars for auto manufacturers such as Ford®, General Motors®, Chrysler®, Honda® and others. Automobile financing is only available to MCU members residing in NY, NJ, CT or PA.

For example, if you choose a 48 month auto loan for model year 2020-2016, your payments will consist of 48 monthly payments of $21.82 on each $1,000 borrowed at 2.29% APR.

Late payment fee: $25.00. Membership is required.

** APR = Annual Percentage Rate. With approved credit and requires direct deposit or automatic payroll deduction as the method of repayment. The APR for auto refinances will increase by .50% after consummation if automatic payroll deduction or direct deposit is cancelled. Rates may be higher based on applicant's creditworthiness, auto model year, loan term and method of repayment. Auto loan must be refinanced from another financial institution. Rates and terms are subject to change without notice. Certain restrictions may apply.

For example, if you choose a 48 month auto refinance for a car from model year 2016, your payments will consist of 48 monthly payments of $22.04 on each $1,000 borrowed at 2.79% APR.

Late payment fee: $25.00. Membership is required.
Current APR* Based on Index and Margin, As Low As Minimum LineMaximum Line
Home Equity Line Of Credit
1.99%$25,000$500,000
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* APR = Annual Percentage Rate. The introductory rate is 1.99% APR for 6 months with a maximum 80% Combined Loan-to-Value (CLTV). The floor APR is 3.00%. HELOC closing costs are waived if, at closing, you take a minimum advance of $25,000 on line amounts below $250,000 and you keep your line of credit open for at least three years, otherwise you will be required to reimburse MCU for certain fees paid to third parties. These fees can be as low as $135 for a $25,000 HELOC and as high as $1,000 for a $250,000 HELOC. This does not include the Recording Tax for New York residents. This 1.99% rate and closing costs offer is available until December 31, 2020.

THE ANNUAL PERCENTAGE RATE MAY VARY AND IS EQUAL TO THE HIGHEST PRIME RATE PUBLISHED IN THE WALL STREET JOURNAL ON OR BEFORE THE LAST DAY OF THE PRECEDING MONTHLY BILLING PERIOD PLUS A MARGIN BETWEEN 0% AND 1%.

HELOCs are secured by a mortgage on your primary residence. Co-ops are not accepted. Property insurance is required. Flood insurance may be required if the property is in a flood zone. Certain restrictions may apply. Membership is required.

The Prime Rate as of March 15, 2020 is 3.25%. Rates may be higher based on applicant’s creditworthiness. The maximum Annual Percentage Rate that may be imposed is 6% above the initial interest rate at closing. Rates and terms are subject to change without notice. Other terms and conditions apply. View full disclosure.
Product TermRates
As Low As
APR*Monthly Payment
Fixed Home Equity Loans
10 Years2.25%2.252%$931.47
15 Years2.25%2.252%$655.18
20 Years3.99%3.997%$605.79
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*APR = Annual Percentage Rate.

Home Equity accounts are secured by a mortgage on your primary residence. Property insurance is required. Flood insurance may be required if the property is in a flood zone. Rates may be higher based on applicant’s creditworthiness. Rates and terms are subject to change without notice. Certain restrictions may apply.

THE ABOVE PAYMENT EXAMPLES DO NOT REFLECT AMOUNTS DUE FOR TAXES AND INSURANCE. THEREFORE, YOUR ACTUAL PAYMENT OBLIGATIONS WILL BE HIGHER.

Above APRs are based on loan amounts of $100,000. The APR is fixed for the loan term. The minimum amount that can be borrowed is $25,000 and the maximum amount is $500,000.

10 and 15 year terms: For the advertised rate, the maximum Loan-To-Value (LTV) is 65% with a 1st Lien position required. Other rates and terms available to a maximum Combined Loan-To-Value (CLTV) 80%.

Closing costs are waived if you keep your loan open for at least three years, otherwise you will be required to reimburse MCU for certain fees paid to third parties. These fees can be as low as $135 for a $25,000 loan and as high as $1,000 for a $250,000 loan. The closing costs offer expires on December 31, 2020. Other rates and terms available. Membership is required.
Maximum Amount FinancedMaximum Terms (Months)Auto-Pay APR*Monthly Payment per $1,000 Borrowed
Personal Loan
$1,000 - $15,000607.95%$18.85
$15,001 - $50,000605.95%$19.31
$15,001 - $50,000726.55%$17.00
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*APR = Annual Percentage Rate. With approved credit and requires direct deposit or automatic payroll deduction as the method of repayment. The APR for Personal loans will increase by .50% after consummation if automatic payroll deduction or direct deposit is cancelled. For example, if you choose a 60 month Personal loan, your payments will consist of 60 monthly payments of $18.85 on each $1,000 borrowed at 4.95% APR. The total cost estimate of a $10,000 loan at 4.95% APR repaid over 60 months is $1,309.00. The APR of 4.95% is available for loan amounts up to $15,000 – higher rates apply for loan amounts over $15,000. Rates may be higher based on your creditworthiness. Repayment terms range from 12 months to 72 months. APRs range from 4.95% to 12.95%. Late payment fee of $25.00. Certain restrictions apply. Rates and terms are subject to change without notice. Membership is required.
Minimum Amount FinancedMaximum Terms (Months)APR*Monthly Payment per $1,000 Borrowed
Share Secured Loan
$50084 Months3.50%$13.90
Shared Certificate Secured Loan
$50060 Months**APR is Share Certificate rate plus 3%$18.27

To Apply for an MCU Share Secured or Share Certificate Secured Loan, visit your nearest MCU Branch.

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*APR = Annual Percentage Rate. With approved credit.

For example, if you choose a 60 month share secured loan, your payments will consist of 60 monthly payments of $18.20 on each $1,000 borrowed at 3.50% APR.

If you choose a 60 month share certificate secured loan, your payments will consist of 60 monthly payments of $18.27 on each $1,000 borrowed at 3.65% APR.

Rates may be higher based on your creditworthiness and loan term. Late payment fee of $25.00. Certain restrictions apply. Rates and terms are subject to change without notice. Membership is required.

** The term for share certificate secured loans is equal to the share certificate maturity.
APR *Method of Computing the Balance for OverdraftsAnnual Fees
Overdraft Checking Line of Credit
17.90%Daily Balance (including new transactions)None

* APR = Annual Percentage Rate

These rates are in effect as of Friday, October 30, 2020.
Rates and terms are subject to change without notice.

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Routing Number: 226078036

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