Rates

Loans

These rates are in effect as of Tuesday, March 28, 2023.

Best Loan Rates Available when using MCU Car Buying Service
Vehicle Age
(Auto Model Year)		Maximum Terms (Months)APR* as low asMonthly Payment per $1,000 Borrowed***
Based on longest term
 Auto Purchase **
2017 or NewerUp to 604.00%$18.42
(Y+0)-(Y-8)>60 to 724.40%$15.83
(Y+0)-(Y-8)>72 to 844.80%$14.04
Auto Refinance
2017 or NewerUp to 604.25%$18.53
(Y+0)-(Y-8)>60 to 724.65%$15.95
(Y+0)-(Y-8)>72 to 845.05%$14.16
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*APR - Annual Percentage Rate. .50% Automatic payment discount applied to all APRs shown. Rates will increase by .50% if automatic payment enrollment is cancelled. Rates may be higher based on applicant's creditworthiness, auto model year, loan term, loan amount and method of repayment. Rates and terms are subject to change without notice. Lien placed on vehicle. Certain restrictions apply.

Minimum loan amount of $8,000 for terms up to 72 months. Minimum loan amount of $30,000 for 84 month term.

Late payment fee: $25.00.

MCU membership is required.

**For Auto Purchases: APR shown reflects both the .50% Automatic Payment discount and the .25% APR discount for purchasing through the MCU Car Buying Service provided by TRUECar®.

***Payment Examples: Assume excellent borrower history, a maximum LTV of 125% of MSRP or JD Power Retail Value, and maximum Loan Amount of $100,000.

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®.

Current Introductory Interest Rate – APR* Minimum LineMaximum Line
Home Equity Line Of Credit
2.99%$25,000$500,000
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* APR = Annual Percentage Rate. The introductory rate is 2.99% APR for 12 months with a maximum 80% Combined Loan-to-Value (CLTV). The initial annual percentage rate is “discounted” - it is not based on the rate and margin used for later rate adjustments. The initial rate will be in effect for the first year your credit line is open.

* The current variable APRs as of March 2023 range from 8.00% - 12.00%. 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 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. Loan applicant has the option to have their mortgage recording fees and mortgage taxes waived at closing for an additional .50% on their introductory rate and fully indexed rate. The 2.99% introductory rate and closing costs waiver offer is available until June 30, 2023.

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 4%.

HELOCs are secured by a mortgage on your primary residence. Co-ops and investment properties 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 28, 2023 is 8.00%. 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
(Closed End)
10 Years7.125%7.125%$1,167.54
15 Year Term7.250%7.250%$912.86
20 Year Term7.375%7.375%$797.97
Product TermRates
As Low As		APR*Monthly Payment
Fixed Home Equity
(1st Lien)
10 Years5.500%5.500%$1,085.26
15 Years5.625%5.625%$823.73
20 Years5.750%5.750%$702.08
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*APR = Annual Percentage Rate.

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. For 10,15, and 20 year terms advertised rate, the maximum Loan-To-Value (LTV) is 80% with 1st Lien position required. For 10,15 and 20 year terms, the maximum Combined Loan-To-Value(CLTV) is 80% with 2nd Lien position.

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

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.

MCU will waive closing costs on loans up to $250k. 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. Loan applicant has the option to have their mortgage recording fees and mortgage taxes waived at closing for an additional .50% on their introductory rate and fully indexed rate. The waiver of closing costs offer expires on June 30, 2023. Other rates and terms available. Membership is required.
Product TermRates
As Low As		APR*Monthly Payment
Heroes Home Improvement Loan (Moderate)
2 Year5.25%5.25%$879.67
5 Year5.25%5.25%$379.72
10 Year5.25%5.25%$214.58
Product TermRates
As Low As		APR*Monthly Payment
Heroes Home Improvement Loan (Low)
2 Year5.00%5.00%$877.43
5 Year5.00%5.00%$377.42
10 Year5.00%5.00%$212.13
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View Disclosure
*APR = Annual Percentage Rate.

Above APRs are based on loan amounts of $20,000. The APR is fixed for the loan term. The minimum amount that can be borrowed is $5,000 and the maximum amount is $20,000. We are offering loans that range from 1-10 years based on your comfortability and preference. There is no maximum Loan-To-Value (LTV).

THE ABOVE PAYMENT EXAMPLES DO NOT REFLECT AMOUNTS DUE/ YOUR ACTUAL MONTHLY PAYMENT OBLIGATIONS MAY BE HIGHER. THERE ARE NO CLOSING COSTS FOR THIS LOAN AND ALL OUT OF POCKET EXPENSES FOR APPRAISALS WILL BE REIMBURSED AT CLOSING.

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. Membership is required.

Qualifications - This inclusive loan is only being offered to members who meet the following pre-qualifications:

(1) Own the property as their primary residence.
(2) Said primary residence falls within a low to moderate census tract zone as scaled by the FFIEC website. For directions on how to pull this information at home, please click here for directions.
(3) If your home falls within the low to moderate census tract zones, you pre-qualify for the loan.
(4) If your home does not fall within the low to moderate census tract zone mentioned in section 3, you can still pre-qualify by having a household income at or below the low to moderate scale. Incomes vary by County and can be found here.
(5) Must qualify for the loan through other standard eligibility such as credit score, debt to income ratio and lien position.

Maximum Amount FinancedMaximum Terms (Months)Auto-Pay APR*Monthly Payment* per $1,000 Borrowed
*based on longest term
Personal Loan
$1,000 - $15,000607.95%$20.26
$15,001 - $50,000608.95%$20.74
$15,001 - $50,000729.75%$18.41
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*APR = Annual Percentage Rate. With approved credit and requires automatic transfer as the method of repayment. The APR for Personal loans will increase by .50% after consummation if automatic transfer from your MCU primary share (savings)/share draft (checking) account is cancelled or the transfer is unsuccessful for 3 consecutive payments. For example, if you choose a 60 month Personal loan, your payments will consist of 60 monthly payments of $20.26 on each $1,000 borrowed at 7.95% APR. The total cost estimate of a $10,000 loan at 7.95% APR repaid over 60 months is $2,153.12. The APR of 7.95% 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 7.95% to 15.45%. 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 Months2.99%$13.21
Shared Certificate Secured Loan
$50060 Months**APR is Share Certificate rate plus 3%

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

Find a Branch
View Disclosure Calculator
*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 $17.96 on each $1,000 borrowed at 2.99% 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 Tuesday, March 28, 2023.
Rates and terms are subject to change without notice.

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