2022 - 1997 Automobiles (100% Financed)
Effective Date: 08/01/2022
TermAPR* as low as
Up to 36 Months 2.49%
48 Months 2.74%
60 Months 2.99%
72 Months 3.24%
84 Months 3.74%

College/Trade School Grad or Active Military Discount - 2021 and 2022 graduates and active military service members can save .25% off MECU's current auto loan rates.

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

Payment example: $20,000 loan with a 72 month term at 3.24% APR would be $306.03/month.
*Annual Percentage Rate. 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 Rates
Effective Date: 08/10/2022
TermRateAPR*Points
30 year fixed as low as 4.500% 4.756% 2 pts
30 year fixed as low as 4.875% 4.726% 0 pts
20 year fixed as low as 4.375% 4.776% 2 pts
20 year fixed as low as 5.000% 4.445% 0 pts
15 year fixed as low as 4.000% 4.486% 2 pts
15 year fixed as low as 4.875% 5.180% .051 pts
10 year fixed as low as 4.000% 4.612% 2 pts
10 year fixed as low as 4.875% 5.311% .051 pts
3/1 ARM as low as n/a    
5/1 ARM as low as 4.500% 4.950% 2
7/1 ARM as low as 4.625% 4.988% 2
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: 08/01/2022
AmountVariable APR* as low as
$10,000 to $49,999 4.50%
$50,000 and greater 4.50%
Loan payments based on $9 or $12 per thousand . Example, $10,000 loan, $9 per $1,000 selected, $90 monthly payment
Minimum Line of Credit amount $10,000
Maximum Line of Credit amount $200,000

The annual percentage rate can change quarterly. The maximum ANNUAL PERCENTAGE RATE that can apply is 18.00%. The ANNUAL PERCENTAGE RATE will never increase more than two (2) percent points in one year. Under no circumstances will the rate ever be less than 4.50% per annum. Index based off of prime. Magins are -0.25% for loan amounts $49,999.99 or less and -0.75% for $50,000 to $200,000. Properties only located in the State of Michigan

Fixed Rate Home Equity Loans
Effective Date: 08/01/2022
Fixed Rate TermAPR* (90% Loan to Value)
60 Months 5.25%
120 Months 5.75%
180 Months** 6.25%
Payment example: A 60-month loan at a 5.25% APR will have 60 monthly payment of $18.99 per $1,000 borrowed
Maximum Home Equity loan amount $200,000

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

Home Improvement
Effective Date: 08/01/2022
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.

Personal Installment Loans
Effective Date: 08/01/2022
Minimum AmountTermAPR* as low as
$100 Up to 60 Months 6.95%
Payment example: $5,000 loan with a 60 month term at 6.95% APR would be $98.89/month.
*Annual Percentage Rate. 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: 08/01/2022
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 15.49% - 21.00%

Minimum payment of 3% of the unpaid balance or $10 whichever is greater. Late payments will result in a fee of up to $20. 
Please call the Credit Union for the most current rates. Rates are subject to change at any time without notice.

*Annual Percentage Rate

Revolving Credit
Effective Date: 08/01/2022
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.

New & Used Motor Homes, Travel Trailers, Boats & RVs
Effective Date: 08/01/2022
TermAPR* as low as
Up to 84 months 3.99%
85 - 180 months** 4.24%
181 - 240 months*** 4.49%

Payment example: $50,000 loan with a 180 month term at 4.24% APR would be $375.89/month.
Maximum loan amount $200,000.

*Annual Percentage Rate. Rates include a .25% discount for direct deposit and may vary based on credit history.
**Minimum loan amount of $50,000 for 121-180 months
***Minimum loan amount of $75,000 for 181-240 months

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: 08/01/2022
TermAPR* as low as
Up to 60 months 3.74%
61 - 72 months** 3.99%
73 - 84 months*** 4.24%

Payment example: $10,000 loan with a 72 month term at 3.99% APR would be $156.41/month.
*Annual Percentage Rate. Rates include a .25% discount for direct deposit and may vary based on credit history.

**Minimum loan amount $10,000.00
***Minimum loan amount $25,000.00

Please call the Credit Union for the most current rates and more details. Rates are subject to change at any time without notice.

 

 

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