MCT Federal Credit Union

Protect your good name by checking your credit report at least once a year.
> More Tips

Rates & Calculators > Loan Rates

Loan Rates

Text Size:

Hello Print Page:

Vehicle Loans

Product	Term	APR	Comments
New Green Auto	Up to 36 months	as low as 4.84% ^1,6	For vehicles rated at 30 MPG or better combined
New Green Auto	37-60 months	as low as 5.09% ^1,6	For vehicles rated at 30 MPG or better combined
New Green Auto	61-72 months	as low as 5.74% ^1,6	For vehicles rated at 30 MPG or better combined
Used Green Auto	Up to 36 months	as low as 4.99% ^1,6	For vehicles rated at 30 MPG or better combined
Used Green Auto	37-60 months	as low as 5.24%^1,6	For vehicles rated at 30 MPG or better combined
Used Green Auto	61-72 months	as low as 5.89%^1,6	For vehicles rated at 30 MPG or better combined
New Vehicles	up to 36 months	as low as 5.09%¹
New Vehicles	37 to 60 months	as low as 5.34%¹
New Vehicles	61 to 72 months	as low as 5.99%¹	$20,000 minimum
Used Vehicles 2003 or newer	up to 36 months	as low as 5.24%¹	120% financing of NADA retail value
Used Vehicles 2003 or newer	37 to 60 months	as low as 5.49%¹	120% financing of NADA retail value
Used Vehicles 2003 or newer	61 to 72 months	as low as 6.14%¹	120% financing of NADA value, $20,000 minimum
Used Vehicles 2002 or older	up to 60 months	as low as 9.19%¹	100% financing of NADA retail value
New Recreational Vehicles/Boats	up to 144 months	as low as 7.49%¹	up to 90% financing
Used Recreational Vehicles/Boats 1998 or newer	up to 144 months	as low as 8.74%¹	up to 90% financing of NADA value

Consumer Loans

Product	Term	APR
Signature Loan	up to 60 months	as low as 11.65%¹
Debt Consolidation Loan	up to 60 months	as low as 12.65%¹
Education/Computer Loan	up to 60 months	as low as 8.80%¹

Preferred Teacher Loans

Product	Term	APR
Preferred Teacher Secured Loan	up to 12 months	as low as 7.80%³
Preferred Teacher First Time Vehicle Loan	up to 36 months²	as low as 5.09%^1,4
Preferred Teacher First Time New Vehicle	37-60 months	as low as 5.34%^1,4
Preferred Teacher First Time New Vehicle	61-72 months	as low as 5.99%^1,4
Preferred Teacher First Time Used Vehicle	up to 36 months²	as low as 5.24%^1,4
Preferred Teacher First Time Used Vehicle	37-60 months	as low as 5.49%^1,4
Preferred Teacher First Time Used Vehicle	61-72 months	as low as 6.14%^1,4

Home Equity Loans

Product	Term	APR	Comments
Equity Flex Loan	up to 60 months	as low as 6.75%	up to 75% financing up to $200,000
Equity Flex Loan	61 - 120 months	as low as 7.00%	up to 75% financing up to $200,000
Equity Flex Loan	121- 180 months	as low as 7.25%	up to 75% financing up to $200,000
Equity Flex Loan	181 -240 months	as low as 7.75%	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%, 10.50%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

¹Rates shown reflect a .50% Level 5 Scholar Series discount.

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

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

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

⁵Consumer 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 5.00% as of August 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.

⁶Rates shown reflect a 0.25% Green Auto discount. In order to qualify for a green auto loan, the vehicle must be 5 years old or newer and get at least a combined 30 MPG (based on the average city and highway MPG) as stated by fueleconomy.gov. Rate also applies to hybrid/fuel cell cars.

†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.