INTEREST RATES IN EFFECT 12/01/2019 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.
Car Loan Rates (Motorcycles add .5%)
|100% Financing||90% Financing|
|2018 & 2019 & 2020 with 20,000 miles or less||As low as 2.24% APR||As low as 1.99% APR|
|2017, 18, 19, 20 used||As low as 2.75% APR||As low as 2.24% APR|
|2014, 2015, 2016||As low as 3.50% APR||As low as 2.99% APR|
|2011, 12, 13||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.
|$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
|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%
6 Years Prime plus margin Floor of 8.00%
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 4.75%)
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.
5 year Adjustable - as low as 4.50% 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 3.625% APR
3 Year ARM - As low as 3.75% APR
5 Year ARM - As low as 4.00% 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 5.00% 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.