Loan Rates
INTEREST RATES IN EFFECT 12/05/2023 SUBJECT TO CHANGE WITHOUT NOTICE
Power Co-op Employees Credit Union uses a merit-based system for determining rates. The better your credit history, the lower the rate you will receive. The rates shown are the best we have to offer, individual rates may vary depending on credit score.
To apply for a loan now, click here to use our online application.
Please click here if you are wanting to use the loan calculator for your auto purchase
PCCU PREMIER SPECIAL*-- NEW VEHICLE FINANCING FOR 36 MONTHS AS LOW AS 1.99% *FOR QUALIFED MEMBERS WITH PREMIER CREDIT SCORE
Car Loan Rates (Motorcycles and Side by Sides add 1.00%) based on 5 year term
| YEAR | CARS | |
|---|---|---|
| 100% Financing | 90% Financing | |
| 2022 & 2023 & 2024 with 20,000 miles or less | As low as 3.49% APR | As low as 2.99% APR |
| Retail | Trade | |
| 2021, 22, 23, 24 USED | As low as 4.49% APR | As low as 3.99% APR |
| 2018, 2019, 2020 | As low as 5.49% APR | As low as 4.99% APR |
| 2017 and older | As low as 8.00% APR | As low as 7.75% APR |
*Not all borrowers will qualify; credit worthiness will affect rate and terms.
* All loans may be subject to a $30 loan cancellation fee if the loan is cancelled within 30 days.
New!!--- Effective 10/01/2023 there will be a $15 loan processing fee added to all loans that involve a title or registration. Due to increasing costs from the states on processing paperwork for titles and registrations we are forced to add this fee to all the loans.
Motor Homes and Travel Trailers
Financing is available for these types of collateral, please contact our loan officers for details.
Length of Terms
Applies to all customer loans except line of credit.
| Loan Amount | Term |
|---|---|
| $100-$1499 | 24 Months |
| $1500-$3999 | 36 Months |
| $4000-$9999 | 48 Months |
| $10,000-$14,999 | 60 Months |
| $15,000-$19,999 | 66 Months |
| $20,000 and up |
72 Months |
84 month financing is an option. Please contact our loan officers for details.
Consumer Loans-Seasonal Collateral
(off road motorcycles, ATV's, mopeds, snowmobiles, garden tractors, fishing boats, personal watercraft)
| CONSUMER LOAN-SEASONAL COLLATERAL | |
|---|---|
| Consumer Goods NEW 100% borrowed |
Consumer Goods NEW 20% Down |
| As low as 5.00% APR | As low as 4.00% APR |
For example, pay $122.09 per month for $5000.00 borrowed at 8.00% APR with a 4 year term.
(Requests for other terms considered on an individual basis.)
Open End Line of Credit and Signature Loans: 10.75% APR to 17.75% APR *
For example, pay $164.34 per month for $5000.00 borrowed at
11.25% APR for a 3 year term.
* Annual percentage rate may vary after account is opened.
Overdraft Protection Loans
Will have the same rates as line of credit loans with a maximum limit of $500 and a monthly payment of $50.00.
*Annual percentage rate may vary after account is opened.
Share Secured Loans
The rate will be equal to the previous quarter's dividend rate, plus 2.00% for terms up to 3 years. .
CURRENT PRIME RATE 8.50%
Business Purpose Loans
3 Years Prime plus margin Floor of 10.50%
5 Years Prime plus margin Floor of 11.50%
6 Years Prime plus margin Floor of 12.50%
Home Equity
5 year Adjustable - as low as 7.25% APR* Payment can be amortized up to 15 years. Estimated closing costs range from $400.00 to $1200.00 depending on location of property and if an appraisal is required. Call the credit union for details.
First Mortgage Rates
1 Year ARM - As low as 7.125% APR
3 Year ARM - As low as 6.75% APR
5 Year ARM - As low as 6.75% APR
Home Equity, Home Improvement and First Mortgage rates are tied to T-bills and change the first Tuesday of each month. Call for current rates.
We now offer additional mortgage loans in cooperation with Premier Lending Alliance. Call for information on a variety fixed rate loan products with terms up to 30 years.
Home Equity Line of Credit: as low as 8.50% APR
The annual percentage rate may vary based on the Prime Interest Rate. Maximum APR of 21%. Estimated closing costs range from $400.00 to $800.00 depending on location of property and if an appraisal is required. Call the credit union for details.
*APR means Annual Percentage Rate
You must be a member or eligible for membership at Power Co-op Employees Credit Union to take advantage of our loan programs.