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 | 125% | up to 60 Months | 3.50% | $18.21 |
| 2010-2009 | 125% | up to 66 Months | 3.80% | $16.83 |
| 2010-2009 | 125% | up to 72 Months | 3.95% | $15.64 |
| Pre-Owned | ||||
| 2008 | 125% | up to 60 Months | 3.80% | $18.34 |
| 2008 | 125% | up to 66 Months | 4.30% | $17.06 |
| 2008 | 125% | up to 72 Months | 4.40% | $15.85 |
| 2007-2006 | 125% | up to 60 Months | 3.95% | $18.41 |
| 2007-2006 | 125% | up to 66 Months | 4.45% | $17.13 |
| 2007-2006 | 125% | up to 72 Months | 4.60% | $15.94 |
| 2005 | 125% | up to 48 Months | 4.50% | $22.83 |
| 2005 | 125% | up to 60 Months | 4.50% | $18.67 |
| 2004 | 125% | up to 48 Months | 5.50% | $23.29 |
| 2004 | 125% | up to 60 Months | 5.80% | $19.27 |
| Auto Refinance | ||||
| 2010-2006 | 125% | up to 72 Months | **Minimum 1% Reduction, As low as 3.99% | |
|
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 **APR = Annual Percentage Rate. Auto refinance discount of 1.00% APR applies to current lender loan rate or receive the current qualifying rate from MCU, whichever is lower. Rates range from 3.99% APR to 12.49% APR depending upon collateral, credit qualifications, and loan repayment. Auto loan must be refinanced from another financial institution. |
| 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 | 5.9% for the first 6 mos. Thereafter, at the prevailing rate, currently 11.15% (Prime Rate +7.9%)*** | Not less than 25 days | Average daily balance (including new purchases) | None | $.50 | None |
| Secured Visa | 11.90% | Not less than 25 days | Average daily balance (including new purchases) | None | $.50 | None |
|
* 3.9% introductory APR for new cardholders on purchases and balance transfers for first
six months. A low 9.15% variable APR after introductory period expires. The APR may vary.
** 4.9% introductory APR for new cardholders on purchases and balance transfers for first six months. A low 10.15% variable APR after introductory period expires. The APR may vary. ***5.9% introductory APR for new cardholders on purchases and balance transfers for first six months A low 11.15% variable APR after introductory period expires. The APR may vary. The Annual Percentage Rate for Cash Advances for Platinum, Gold, Classic and Secured Visa Cards is a fixed 17.9%. 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. Late Payment Fee for all Visa Cards: $25.00 |
| 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 | 9.50% | $21.01 |
| Unsecured Loan | $15,001 - $50,000 | up to 60 Months | 10.50% | $21.50 |
| Unsecured Loan | $15,001 - $50,000 | up to 72 Months | 11.00% | $19.05 |
| Unsecured Loan | $15,001 - $50,000 | up to 84 Months | 11.00% | $17.13 |
| Share Secured Loan | $500 | up to 84 Months | 4.50% | $13.90 |
| CD Secured Loan | $500 | Equal to CD Maturity | 3% above CD Rate |
| 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 August 2, 2010 |