Power Co-op Employees Credit Union
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Loan Rates

INTEREST RATES IN EFFECT 10/02/2018 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 use our Loan Calculator to calculate car payments.

Please use our Loan Calculator to calculate your mortgage payments.

To learn more about purchasing a vehicle check out Drive Away Happy from Balance, a benefit of credit union membership.  Click here to view all Balance learning modules.

Car Loan Rates   (Motorcycles add .5%)

YEAR CARS
  100% Financing 90% Financing
2017 & 2018 & 2019 with 20,000 miles or less As low as 2.24% APR As low as 1.99% APR
  Retail Trade
2016, 17, 18, 19  used As low as 2.75% APR As low as 2.24% APR
2013, 2014, 2015 As low as 3.50% APR As low as 2.99% APR
2010, 11, 12 As low as 4.50% APR As low as 4.25% APR

 

For example, Pay $354.97 per month for $20,000.00 borrowed at 5.50%APR with a 5 year term.

*Not all borrowers will qualify; credit worthiness will affect rate and terms.

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

 

Consumer Loans-Seasonal Collateral

(fold down and pop-up campers, off road motorcycles, ATV's, mopeds, snowmobiles, garden tractors, fishing boats, personal watercraft)

CONSUMER LOAN-SEASONAL COLLATERAL
Signature, Consumer Goods
100% borrowed
Consumer Goods
20% Down
As low as 8.00% APR As low as 7.00% 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: 9.50% 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 montly 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. Currently this rate would be 2.75% APR.

 

Business Purpose Loans

3 Years    Prime plus margin    Floor of 6.00%

5 Years    Prime plus margin    Floor of 7.00%

For example, pay $213.77 per month for $10,000.00 borrowed at  10.25% APR with a 5 year term.
(Prime rate is currently 5.25%)

To learn more about purchasing a home check out The Road to Home Ownership from Balance, a benefit of credit union membership.  Click here to see view all Balance learning modules.

Home Equity

5 year Adjustable - as low as 6.00% 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 4.625% APR

3 Year ARM - As low as 5.125% APR

5 Year ARM - As low as 5.50% 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 5.25% 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.

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