Loan Rates
Loan Rates
| Loan Rates | ||||
| Effective Date: Thursday, July 29th, 2010 | ||||
| Type | APR* | Maximum Term | Estimated Monthly Payment (per $1000) | Maximum Loan Amount |
| Signature | 10.99% | 36 Months | 36 payments of $32.90 |
$20,000 |
| 12.99% | 48 Months | 48 payments of $26.98 |
$20,000 | |
| 13.99% | 60 Months | 60 payments of $23.41 |
$20,000 | |
| Share or CD Secured | 2.5% over rate paid | Match to Maturity | Varies | $100,000 |
| Personal Computer | 10.00% | 36 months | 36 payments of $32.41 |
$5,000 |
| *Proof of Purchase is required | ||||
| Personal Line of Credit | 13.90% | Revolving | 3.5% of outstanding balance; minimum $15 | $10,000 outstanding balance; minimum $40 |
| Overdraft Plus, Overdraft Protection | 15.00% | Revolving | 3.5% of outstanding balance; minimum $15 | $2,000 outstanding balance; minimum $40 |
| Visa ® Credit Cards | 12.99% | Revolving | 2.25% of outstanding balance; minimum $15 | $20,000 |
Visa Platinum Rewards |
9.90% | Revolving | 2.25% of outstanding balance; minimum $15 |
$20,000 |
| New and Used Vehicles | ||
| Effective Date: Thursday, July 29th, 2010 | ||
| Autos, Trucks, SUVS & "Demos" for current year and up to 6 model years. Maximum Loan Amount up to 100% of the M.S.R.P plus taxes, tags, extended warranty & gap insurance. | ||
| Maximum Term | APR* | Estimated Monthly Payment (per $1000) |
| 36 Months | 5.25% | 36 payments of $30.16 |
| 48 Months | 5.25% | 48 payments of $23.20 |
| 60 Months | 5.25% | 60 payments of $19.03 |
| 72 Months | 5.50% | 72 payments of $16.38 |
| 84 Months | 5.75% | 84 payments of $14.53 |
| *Minimum Loan is $25,000 for72 months & $30,000 for 84 months | ||
| Recreational Vehicles | |||
| Effective Date: Thursday, July 29th, 2010 | |||
| Type | APR* | Maximum Term | Estimated Monthly Payment (per $1000) |
| New Motorcycle (Current model year) |
6.50% | 60 months |
60 payments of $19.63 |
| Used Motorcycle | 6.50% | 36 months | 36 payments of $30.74 |
| Up to 100% of the NADA suggested retail value | |||
| NEW Leisure Vehicles & Boats | 8.00% | 120 months | 120 payments of $12.19 |
| Used Leisure Vehicles & Boats (up to 6 model years old) |
9.00% | 120 months | 120 payments of $12.73 |
| Up to 80% of the M.S.R.P. Up to 80% of the suggested retail value | |||
| New Boats & Personal Watercraft (current model year and 'demos') | 8.00% | 120 months | 120 payments of $12.19 |
| Used Boats and Personal Watercraft (up to 6 model years old) | 9.00% | 120 months | 120 payments of $12.73 |
| Up to 90% of the M.S.R.P. Up to 80% of N.A.D.A. Average Retail Value or certified appraisal. | |||
| Real Estate Loans | ||||
| Effective Date: Thursday, July 29th, 2010 | ||||
| Type | APR* | Maximum Term | Estimated Monthly Payment (per $1000) | Maximum Loan Amount |
| Home Equity Closed End Equity Loan | 5.75% - Fixed Rate | 120 months | 120 payments of $10.99 |
Up to 80% of appraised value |
| Home Equity Lines of Credit | 6.0% | Revolving Draw Term 5 years Repayment 10 years | 1.5% of the outstanding balance or $50; whichever is greater. | $100,000 or 80% loan to value. $5,000 minimum |
| 7.00% | Revolving Draw Term 5 Years Repayment 10 years | 1.5% of the outstanding balance of $50; whichever is greater. | Minimum: $5,000 Max: $100,000 or 90% loan to value. |
|
| 7.00% | Draw Term 10 Years | Interest only of the outstanding balance or $50; whichever is greater. | Minimum:$5,000 Max: $100,000 or 100% loan to value |
|
| Home Equity LOC - Up to 100% LTV. Eligible properties are owner-occupied primary residences within Michigan.Call our Loan Department at 989-224-9511 for rates, terms, an application, and disclosures; or visit or website & apply on line. Prime Rate as disclosed quarterly in the Wall Street Journal. | ||||
Stated APR is the lowest rate available, for qualified members. APR assumes auto-debit of loan payments.Rate 1/4% higher with no auto debit. An applicant's actual final rate may be higher, based upon creditworthiness. Estimated monthly payment per $1000 borrowed Figures shown are intended to give you approximate information, actual payments may vary slightly. Plus taxes, tags, extended warranty and for most vehicles, gap insurance. Total unsecured credit lines and unsecured loan balances (including education loans) per member is limited to 30% of gross income; this total may not exceed $20,000 . Debt consolidation loans in excess of $10,000 may require additional collateral. To apply, please submit the following: a completed loan application, current payroll statement, proof of all "other income," and a stated purpose. Rates effective May 1, 2008; subject to change.
*APR = Annual Percentage Rate. Rate will be adjusted based on credit score and relationship with credit union service