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Rates & Calculators > Loan Rates 

Loan Rates

Vehicle Loans

Product Term APR Comments
New Vehicles  up to 36 months  as low as 4.50%1  up to 100% financing of MSRP 
New Vehicles  37 to 48 months  as low as 4.50%1  up to 100% financing of MSRP  
New Vehicles  49 to 60 months  as low as 4.75%1  up to 100% financing of MSRP  
New Vehicles  61-72 months  as low as 5.50%1  $30,000 minimum; up to 100% financing of MSRP 
Used Vehicles 2005 or newer  up to 36 months  as low as 5.00%1  up to 100% financing of NADA retail value 
Used Vehicles 2005 or newer  37 to 48 months  as low as 5.00%1  up to 100% financing of NADA retail value 
Used Vehicles 2005 or newer  49 to 60 months  as low as 5.25%1  up to 100% financing of NADA value 
New Motorcycle   Up to 60 months  as low as 6.99%   
Used Motorcycle  Up to 60 months  As low as 7.49%   
New Recreational Vehicles/Boats  up to 120 months  as low as 7.99%1  up to 90% financing 
Used Recreational Vehicles/Boats 1999 or newer  up to 60 months  as low as 9.24%1  up to 90% financing of NADA value 


Consumer Loans

Product Term APR
Signature Loan  up to 60 months  as low as 11.00%1 
Education/Computer Loan  up to 60 months  as low as 8.00%1 


Preferred Teacher Loans

Product Term APR
Preferred Teacher Loan  up to 12 months  as low as 8.00%3 
Preferred Teacher New Vehicle  up to 60 months  as low as 4.50%1,4 
Preferred Teacher New Vehicle  61-72 months  as low as 5.50%1,4 
Preferred Teacher Used Vehicle  up to 60 months 2 as low as 5.25%1,4 


Home Equity Loans

Product Term APR Comments
Home Improvement Loan  up to 60 months  as low as 9.00%  SPECIAL available for LIMITED TIME ONLY! 
Equity Flex Loan  up to 60 months  as low as 5.99%  up to 75% financing up to $200,000 
Equity Flex Loan  61 - 120 months  as low as 5.99%  up to 75% financing up to $200,000 
Equity Flex Loan  121- 180 months  as low as 6.99%  up to 75% financing up to $200,000 


Home Equity Line of Credit

Product APR Comments
Equity Option HELOC --- No Closing Cost Option†  As low as Prime -0.50%, 4.99%5  Up to 75% financing, up to $200,000 
Equity Option HELOC --- Intro Rate Option, 4.99% Intro Rate††  As low as Prime -0.50%, 4.99%5  Up to 75% financing, up to $200,000 , member pays closing cost 
Equity Preferred HELOC --- 4.99% Intro Rate††  As low as Prime -0.75%, 4.99%5  Up to 75% financing, member pays closing cost  


Line of Credit Loans

Product APR
Line of Credit  as low as Prime + 5.50%, 8.75%5 


Secured Loans

Product APR
Share Pledged Loans  3.00% above regular savings rate (variable) 
Certificate Pledged Loans  3.00% above certificate rate 


APR - Annual Percentage Rate
LTV - Loan to Value
 

1 Rates shown reflect a .25% Level 5 Scholar Series discount.

2 Other terms are available for the Preferred Teacher First Time Vehicle Loan. 

3 Only one loan per year, per member. Loan maximum of $2,500.

4 Must be in good standing with MCT and have no record of NSF activity. Proof of car insurance required at or prior to loan funding.

5 Consumer loan rates and HELOC rates are indexed to the Prime Rate as quoted by the Wall Street Journal as of two days prior to the beginning of the month. The Prime Rate was 3.25% as of December 29, 2008. Rates are based on applicant’s credit. Actual rate may vary. Minimum rate of 4.99%. Maximum rate of 18%. Homeowner’s insurance is required. 

 
†Accounts closed within the first two years will be required to reimburse the Credit Union the amount of closing cost paid.
 
††Introductory rate is good for the first six months of the HELOC. 
 
All rates are based on an evaluation of applicants' credit, and all rates and terms are subject to change. Other loan programs available.

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