| Loan Rates – Effective Wednesday, February 8, 2012 | ||
|---|---|---|
| Loan Type | Rates as low as | Terms/Information |
| New Auto 24 month term | 2.500% | We make getting the new car easy. 52 bi-weekly payments |
| New Auto 48 month term | 2.500% | Convenience is our motto. 104 bi-weekly payments |
| New auto 60 month term | 2.500% | 130 bi-weekly payments |
| Used Auto 24 month term | 3.500% | No credit crunch here. 52 bi-weekly payments |
| Used Auto 36 month term | 3.500% | We have plenty of money to lend. 78 bi-weekly payments |
| Used Auto 48 month term | 3.500% | We make getting your next loan easy. 104 bi-weekly payments |
| Used Auto 2004 and Older | 3.500% | Up to 26 bi-weekly payments |
| New Boat 60 month term | 6.500% | Let us get you on the water fast. 130 bi-weekly payments |
| New Boat 120 month term | 6.750% | We specialize in boat loans. 260 bi-weekly payments |
| New Boat 180 month term | 7.000% | Need a great term try this one on for size |
| Used Boat 60 month term | 7.000% | |
| Used Boat 120 month term | 7.250% | |
| Used Boat 180 month term | 7.500% | 390 bi-weekly payments |
| Holiday Loan | 8.500% | |
| Vacation loan | 8.500% | Let us get you on your way on your dream trip |
| Personal loan 12 month term | 8.500% | This loan is for any reason. 26 bi-weekly payments |
| Personal loan 24 month term | 8.500% | This loan is for any reason. 52 bi-weekly payments |
| Personal loan 36 month term | 8.500% | This loan is for any reason. 78 bi-weekly payments. |
| Personal loan 48 month term | 8.500% | 104 bi-weekly payments |
| New recreational vehicle-60 mo | 6.500% | Includes campers, four wheelers, and personal water craft |
| Used RVs 60 months | 7.000% | Let us help you have some fun. 130 bi-weekly payments |
| New motorcycle 12 months | 3.500% | Fun on two wheels, let us help you that special bike |
| Used motorcycle 12 months | 4.500% | 26 bi-weekly payments |
| New Auto 36 month term | 3.500% | We make getting a new car easy. 78 Bi-Weekly payments |
| Share Secured Loan | 3.000% | |
| New RVs 120 months | 6.750% | Includes campers, four wheelers, and personal water craft |
| New RVs 180 months | 7.000% | Includes campers, four wheelers, and personal water craft |
| Used RVs 120 months | 7.250% | Let us help you have some fun. 260 bi-weekly payments |
| Used RVs 180 months | 7.500% | Let us help you have some fun. 390 bi-weekly payments |
| New motorcycle 24 months | 3.500% | Fun on two wheels, let us help you that special bike |
| New motorcycle 36 months | 3.500% | Fun on two wheels, let us help you that special bike |
| New motorcycle 48 months | 3.500% | Fun on two wheels, let us help you that special bike |
| Used motorcycle 24 months | 4.500% | 52 bi-weekly payments |
| Used motorcycle 36 months | 4.500% | 78 bi-weekly payments |
| Used motorcycle 48 months | 4.500% | 104 bi-weekly payments |
| Used Auto 2005 and Older- 24mo | 3.500% | Up to 52 bi-weekly payments |
* New/Recent Auto/Motorcycle (2010-2011)
** Used Auto/Motorcycle (2004-2009)
*** The aggregate of all unsecured debts to MSECU are limited to $7,500.00
*Actual Rate is Determined by Creditworthiness
**APR: Annual Percentage Rate
***APY: Annual Percentage Yield
FICO Credit Score Rating Guide
MSECU’s rate advantage lending program is designed to help all our members with very competitive rates. For those members with excellent credit; rate advantage lending gives you a lower interest rate the better your credit. For our member with some credit issues; rate advantage lending allows the credit union to approve more loans, although at a slightly higher rate.
The chart below displays our FICO credit credit score rating guide.
FICO Score Rate Table
FICO table based on Credit Score for loans| Product: | Rate Structure: | % of Financing | Dollar Limits |
|---|---|---|---|
| All Unsecured Loans | A+ = Base Rate A = .50 B = 2.00 | Not Applicable Not Applicable Not Applicable | $7,500.00 Unsecured aggregate |
| New Boat, Used Rec. Vehicle & New Rec. Vehicle | A+ = Base Rate A = .25 B = 1.00 | 100% 100% 90% | Boat & New / Used Rec. $50,000.00/ $40,000.00 $50,000.00/ $40,000.00 $40,000.00/ $20,000.00 |
| New Auto | A+ = Base Rate A = .25 B = 1.50 | 100% 100% 90% | $50,000.00 $50,000.00 $40,000.00 |
| Used Auto (2005-2009) | A+ = Base Rate A = .25 B = 2.75 | 100% 100% 90% | $40,000.00 $40,000.00 $20,000.00 |
| New Motorcycles, Used Motorcycles & Used Boats | A+ = Base Rate A = .25 B = 1.25 | 100% 100% 90% | New Cycle / Used cycle & Boat. $50,000.00/ $40,000.00 $50,000.00/ $40,000.00 $20,000.00/ $20,000.00 |
| Used Autos (2004 & Older) | A+ = Base Rate A = .50 B = 1.75 | 80% 75% 70% | $25,000.00 $20,000.00 $15,000.00 |
For more information on our rates call us! We love to make loans and we would love to earn your business! Start enjoying the benefits of membership today! Contact our lending department!
We Make it Easy!
Deciding on which new vehicle can be tough so our aim is to help you make it easy to finance it. Our competitive automotive rates and the ability to apply online makes it quicker and easier to help you get into your new vehicle. In addition to an online application you can stop by the branch or call a loan specalist if you have any further questions. Also, be sure to check out Enterprise Car Sales for special Member Only deals that can save you thousands on a used car!
Additional disclosures triggered by our open-ended lending program:
Late Charge: If your monthly payment is not received within 15 days of the due date, you will be charged 10% of your outstanding loan balance or $10.00, whichever is less.
Collection Cost: You agree to pay all costs of collecting the amount you own under this agreement including court costs and reasonable attorney fees not in excess of 15% of the unpaid debt.
Share Secured: The Annual Percentage Rate (APR) will be the dividend rate being paid on the regular shares (index) on the date of the advance plus 3%. If there is an existing balance on the date of the new advance, the existing balance will be added to the new advance and the entire balance will be at the new APR. The rates are subject to change when the regular share rate changes to reflect any change in the index. Any increase in the APR will take the form of more payments of the same amount until what you owe has been repaid.
Certificate Secured: The Annual Percentage Rate (APR) will be the dividend rate being paid on the Certificate offered as security (index) plus 3%. The advance will be made for the length of the certificate only. The APR and Daily Periodic Rate will be disclosed at the time of the advance.
Vendors Single Interest: As a condition of receiving an automobile advance, you must obtain single interest automobile coverage. You may obtain the single interest auto insurance from anyone you want that is acceptable to the credit union. If you get the insurance from the credit union, you will pay $25.00. This rate is subject to change. All subrogation rights are waived by the insurer.
Payroll Deduction: A term and condition of the loan is the credit Union shall receive the monthly payment due for the loan through the Commonwealth of Massachusetts payroll deduction program for the full duration of the loan. The termination by the Borrower of the payroll deduction shall be considered a condition of default.
Your savings federally insured to at least $250,000 and backed by the full faith and credit of the United States Government.
Massachusetts Share Insurance Corporation
Equal Housing Lender