MCU: New York's Credit Union Since 1916
Rates
Loans & Visa Card Rates
| Loan Type | Maximum Amount Financed | Term | *Auto-Pay APR | Monthly Payment Per $1,000 Borrowed |
|---|---|---|---|---|
| New Cars | ||||
| 2010-2009 | 115% | up to 60 Months | 4.25% | $18.54 |
| 2010-2009 | 115% | up to 66 Months | 4.50% | $17.14 |
| 2010-2009 | 115% | up to 72 Months | 4.95% | $16.09 |
| Pre-Owned | ||||
| 2008 | 115% | up to 60 Months | 4.40% | $18.60 |
| 2008 | 115% | up to 66 Months | 4.65% | $17.21 |
| 2008 | 115% | up to 72 Months | 5.10% | $16.16 |
| 2007-2006 | 115% | up to 60 Months | 4.75% | $18.76 |
| 2007-2006 | 115% | up to 66 Months | 5.15% | $17.44 |
| 2007-2006 | 115% | up to 72 Months | 5.40% | $16.30 |
| 2005 | 115% | up to 48 Months | 4.95% | $23.01 |
| 2005 | 115% | up to 60 Months | 5.25% | $18.99 |
| 2004 | 115% | up to 48 Months | 5.25% | $23.15 |
| 2004 | 115% | up to 60 Months | 5.75% | $19.22 |
| Auto Refinance | ||||
| 2010-2006 | 125% | up to 72 Months | **2.00% Less Than Existing Rate | |
| Loan Type | Minimum Amount Financed | Term | *Auto-Pay APR | Monthly Payment Per $1,000 Borrowed |
|---|---|---|---|---|
| Unsecured Loan | $1,000 - $15,000 | up to 60 Months | 9.95% | $21.23 |
| Unsecured Loan | $15,001 - $50,000 | up to 60 Months | 11.45% | $21.98 |
| Unsecured Loan | $15,001 - $50,000 | up to 72 Months | 12.95% | $20.06 |
| Unsecured Loan | $15,001 - $50,000 | up to 84 Months | 13.95% | $18.72 |
| Share Secured Loan | $500 | up to 84 Months | 4.50% | $13.90 |
| CD Secured Loan | $500 | Equal to CD Maturity | 3% above CD Rate |
|
Rates may be higher based on applicant's credit worthiness. Rates and terms are subject to change
without notice. Certain restrictions may apply. MCU only finances vehicles purchased from a car dealer: We do not offer financing for private sales, individual sales or lease buyouts. *Auto-Pay: When direct deposit or automatic payroll deduction is utilized as the method of loan repayment. Annual percentage rates for 2010-2009 auto loans will increase by 1/2 % after consummation if automatic payroll deduction or direct deposit is cancelled. Annual percentage rates for 2008 and lower auto loans will increase by 1% after consummation if automatic payroll deduction or direct deposit is cancelled. Annual percentage rates on unsecured loans will increase by 2% after consummation if automatic payroll deduction or direct deposit is cancelled. Late payment fee: $15.00 **Lowest rate available is 4.95% APR. |
| Visa Cards | Annual Percentage Rate for Purchases | Grace Period for Repayment of the Balance for Purchases | Method of Computing the Balance for Purchases | Annual Fees | Minimum Finance Charge | Transaction Fee for Purchases |
|---|---|---|---|---|---|---|
| Platinum Card | 3.9% for the first 6 mos. Thereafter at the prevailing rate, currently 9.15%(Prime Rate+5.9%)* | Not less than 25 days | Average daily balance (including new purchase) | None | $.50 | None |
| Gold Card | 4.9% for the first 6 mos. Thereafter, at the prevailing rate, currently 10.15% (Prime Rate+6.9%)** | Not less than 25 days | Average daily balance (including new purchases) | None | $.50 | None |
| Classic Variable Rate | 11.15% (Prime Rate +7.9%)*** | Not less than 25 days | Average daily balance (including new purchases) | None | $.50 | None |
| Classic Fixed Rate | 14.90% | Not less than 25 days | Average daily balance (including new purchases) | None | $.50 | None |
| Secured Visa | 10.90% | Not less than 25 days | Average daily balance (including new purchases) | None | $.50 | None |
|
* The promotional rate of 3.9% is available with a qualifying balance transfer of
$3,000 or more at time of application; without a qualifying balance transfer
the rate is currently 9.15%. The APR may vary.
** The promotional rate of 4.9% is available with a qualifying balance transfer of $3,000 or more at time of application; without a qualifying balance transfer the rate is currently 10.15%. The APR may vary. *** The APR may vary. The Annual Percentage Rate for Cash Advances for Platinum, Gold and Classic Visa Cards is a fixed 17.9%. The Annual Percentage Rate for Cash Advances for Secured Visa Cards is a fixed 16.9%.Transaction fee for cash advances for Classic, Variable Rate and Secured Visa is 3% of the amount advanced but not less than $1.00 or more than $30.00. Transaction fee for cash advances for Gold and Platinum Visa is 3% of the amount advanced but not less than $2.00 or more than $30.00. Over the credit limit fee for Classic,Variable,Gold,Platinum and Secured : $20.00; Late Payment Fee for all Visa Cards: $25.00 |
| Overdraft | Annual Percentage Rate | Overdraft Increment | Method of Computing the Balance for Overdrafts | Annual Fees | Transaction Fee for Overdrafts |
|---|---|---|---|---|---|
| Overdraft Checking Line of Credit | 12.65% | $1.00 | Daily Balance (including new overdrafts) | None | None |
| These rates are in effect as of October 27, 2009 |