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Loan Rates

2020 - 1995 Automobiles (100% Financed)
Effective Date: 11/01/2019
Year FromYear ToTermAPR* as low as
2020 2016 Up to 60 Months 2.99%
2020 2016 72 Months** 3.24%
2020 2016 84 Months** 3.74%
2015 2013 Up to 60 Months 3.49%
2012 1995 Up to 48 Months 5.49%

** Minimum $25,000.00 for 84 month term, Minimum $10,000 for 72 month term

College Grad Discount - 2018 and 2019 graduates can save .25% off MECU's current 2019s/2018s auto loan rates.

Classic Cars (25 years and older)
As low as 7.50% - 36 months 7.50% - 48 months (minimum $10,000)

Payment example: $20,000 loan with a 72 month term at 3.74% APR would be $311/month.

*Rates includes a .25% discount for direct deposit and may vary based on credit history. Please call the Credit Union for the most current rates and more details. Rates are subject to change at any time without notice.

Home Mortgage & Mortgage Refinancing Rates
Effective Date: 11/13/2019
TermRateAPR*Points
30 year fixed as low as 3.375% 3.635% 2 pts
30 year fixed as low as 3.750% 3.849% 0 pts
20 year fixed as low as 3.375% 3.740% 2 pts
20 year fixed as low as 3.750% 3.889% 0 pts
15 year fixed as low as 3.000% 3.462% 2 pts
15 year fixed as low as 3.500% 3.674% 0 pts
10 year fixed as low as 3.000% 3.672% 2 pts
10 year fixed as low as 3.500% 3.752% 0 pts
3/1 ARM as low as 3.500% 4.743% 2 pts
5/1 ARM as low as 3.500% 4.581% 2 pts
7/1 ARM as low as 3.500% 4.440% 2 pts

Rates are based on credit score, Loan-to-Value, Loan term, and other factors that may affect rate. All rates are subject to change at any time and without notice.
APR assumption based on: 80% Loan To Value/Escrow Account.
*APR = Annual Percentage Rate
For more detailed information or to speak with a licensed Mortgage Loan Officer, please call any of our branch locations.

 

Variable Rate Home Equity Loans
Effective Date: 11/01/2019
Loan Payments Based On $9 or $12 Per Thousand Borrowed
Maximum Loan-to-Value of 90% - Minimum Line of Credit of $10,000*
$10,000 - $49,999.99 at a VARIABLE RATE of 5.00% APR**
$50,000.00 and greater at a VARIABLE RATE of 4.50% APR***
*Maximum Home Equity loan amount $150,000
**Minimum $30,000 for 180 months
*** APR = Annual Percentage Rate. Annual Percentage Rates on Variable Home Equity Loans are subject to change on a Quarterly basis.

Fixed Rate Home Equity Loans
Effective Date: 11/01/2019
Fixed Rate TermAPR* (90% Loan to Value)
60 Months 4.75%
120 Months 5.25%
180 Months*** 5.75%
Payment example: $20,000 loan with a 120 month term at 6.00% APR would be $222.04/month.
Maximum Home Equity loan amount $150,000

*APR = Annual Percentage Rate
***Minimum $30,000 for 180 months
Please call the Credit Union for the most current rates. Rates are subject to change at any time without notice.

Home Improvement
Effective Date: 11/01/2019
AmountMaximum TermAPR* as low as
$1,000 - $5,000 60 Months 8.75%
$5,000 - $10,000 84 Months 8.75%
$10,000 - $25,000 108 Months 8.75%
Payment example: $20,000 loan with a 108 month term at 8.75% APR would be $268.22/month.
*Apr = Annual Percentage Rate

*Rates includes a .25% discount for direct deposit and may vary based on credit history. Rates are subject to change at any time without notice.
Please call the Credit Union for the most current rates and more details. Rates are subject to change at any time without notice.

Personal Installment Loans
Effective Date: 11/01/2019
Minimum AmountTermAPR* as low as
$100 Up to 60 Months 9.95%
Payment example: $5,000 loan with a 60 month term at 9.95% APR would be $106.11/month.
*Rate includes a .25% discount for direct deposit and may vary based on credit history. Please call the Credit Union for the most current rates and more details. Rates are subject to change at any time without notice.

Visa & MasterCard
Effective Date: 11/01/2019
NameAPR*
Visa Classic & MasterCard Credit Cards 11.90%
Visa Gold Credit Card 10.90%
Visa Platinum Credit Card 9.90%
Visa Signature Rewards Credit Card 10.25% - 18.25%
Minimum payment of 3% of the unpaid balance or $10 whichever is greater. Late payments will result in a fee of $15. Please call the Credit Union for the most current rates. Rates are subject to change at any time without notice.

New & Used Motor Homes, Travel Trailers, Boats & RVs
Effective Date: 11/01/2019
TermAPR* as low as
Up to 84 months 4.49%
85 - 180 months** 4.74%
181 - 240 months*** 4.99%

Payment example: $50,000 loan with a 180 month term at 4.74% APR would be $388.66/month.
$200,000 maximum loan
**Minimum loan amount of $50,000 for 121-180 months
***Minimum loan amount of $75,000 for 181-240 months

*Rates include a .25% discount for direct deposit and may vary based on credit history. Please call the Credit Union for the most current rates and more details. Rates are subject to change at any time without notice.

New and Used Motorcycles, Snowmobiles, Personal Watercraft
Effective Date: 11/01/2019
TermAPR* as low as
Up to 60 months 3.99%
61 - 72 months** 4.29%
73 - 84 months*** 4.49%

*Rates include a .25% discount for direct deposit and may vary based on credit history. Please call the Credit Union for the most current rates and more details. Rates are subject to change at any time without notice.

Payment example: $10,000 loan with a 72 month term at 4.29% APR would be $157.78/month.
** Minimum loan amount $10,000.00
*** Minimum loan amount $25,000.00

Revolving Credit
Effective Date: 11/01/2019
Minimum AdvanceRepayment Minimum PaymentAPR*
$50.00 $30 per $1000 borrowed $30.00 9.95%
* Annual Percentage Rate. Please call the Credit Union for the most current rates. Rates are subject to change at any time without notice.

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Michigan Educational Credit Union,
9200 Haggerty Road Plymouth, MI 48170
Dedicated to serving the financial needs of our community since 1942.
National Credit Union Administration
This Credit Union is federally-insured by the National Credit Union Administration
We do business in accordance with the Fair Housing Law
Equal Housing Lender