Loan Rates
Lending is what ICCU does best for more than half a century! ICCU is a member-owned financial cooperative which means rates are consistently competitive and terms are comfortable.
The loan interest rates listed below are expressed as an Annual Percentage Rate (APR). Rates are subject to change without notice. Where a rate range is indicated, the rate received is based on the applicant's credit score. A higher APR or shorter term may apply if an applicant does not qualify.
Save Money: Invest in a 10 minute conversation with an ICCU Financial Service Representative before you buy or finance any big ticket item. In most cases, ICCU can help save you money. Call 989-773-5927 with your question. No question is too silly, and your credit union is here to help.
| Automobiles, Cars and Light Trucks | ||
| Effective Date: May 10, 2013 | ||
| Loan Type/Details | Term | Annual Percentage Rate |
2004 Vehicles and newer |
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| New to 2004 vehicles | Up to 60 months | 2.75% to 12.85% |
| New to 2004 vehicles | Up to 66 months | 2.75% to 12.85% |
| Loan amounts over $23,000 | Up to 72 months | 2.99% to 13.10% |
Brand new and program cars, auto and light trucks. 100% financing available to qualified applicants. 90% financing for credit scores under 599 and 80% financing for scores of 549 or less. Down payment waived with co-signer. Up to 75% financing on salvage titles. Rates based on credit score. A higher APR or shorter term may apply if applicant does not qualify. | ||
All Other SECURED Loans |
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| 90% financing to qualified applicants | Up to 60 months | 6.00% to 15.75% |
Includes 2004 and older vehicles, jet skis, four wheelers and snowmobiles. 90% financing to qualified applicants. 80% financing for credit scores under 549. Terms over 60 months with Credit Committee approval. Interest rates are based on the applican'ts credit score. A higher rate or shorter term may apply if applicant does not qualify. | ||
| Recreational Vehicles (RVs) | |
| Effective Date: May 10, 2013 | |
| Loan Type/Details | Annual Percentage Rate |
New to 2005 RVs, Campers, Travel Trailers, Boats and Motorhomes | |
Up to $7,000 | 36 months |
6.00% - 15.75% |
$7,000 to $15,000 | 60 months |
6.00% - 15.75% |
$15,000 and up | 84 months |
6.00% - 15.75% |
$15,000 and up | 120 months | 7 year balloon |
6.00% - 15.75% |
$75,000 and up | 180 months | 7 year balloon |
6.00% - 15.75% |
90% financing to qualified applicants. Interest rates based on applicants credit score. A higher rate or shorter term may apply if applicant does not qualify. Terms over 60 months with Credit Committee approval. | |
| Street Motorcycles | |
| Effective Date: May 10, 2013 | |
| Loan Type/Details | Annual Percentage Rate |
| Up to $20,000 - 60 months | 4.70% to 16.70% |
| $20,000 and up - 72 months | 4.70% to 16.70% |
2005 and newer motorcycles. 90% financing to qualified applicants. Rate based on credit score. A higher APR or shorter term may apply if applicant does not qualify. Terms over 60 months with Credit Committee approval. | |
| Mortgage Rates | |
| Effective Date: Thursday, May 23rd, 2013 | |
| Loan Type/Details | Note Rate | Rate After Prepaids* |
15 Year Fixed |
as low as 2.875% | 3.007% |
20 Year Fixed |
as low as 3.500% | 3.604% |
30 Year Fixed |
as low as 3.750% | 3.825% |
5 Year Balloon | 30 Year Amortization |
as low as 2.750% | 2.780% |
7 Year Balloon | 30 Year Amortization |
as low as 2.750% | 2.780% |
10 Year Balloon | 30 Year Amortization |
as low as 2.750% | 2.780% |
Vacant Land Loans: 5 Year Balloon |
as low as 6.250% |
Vacant Land Loan: 7 Year Balloon |
as low as 7.250% |
ICCU's mortgage rates are subject to change daily, typically around 12:00 noon. ICCU offers some of the area's LOWEST mortgage closing costs with closings typically in 2 to 4 weeks! Rates are subject to change without notice and are based on LTV ratios, credit scores and other factors. *APR is based on a mortgage loan amount of $175,000, no cash out refinance or purchase with 80% financing for credit scores of 740 or higher. No origination fees or points. | |
| Home Equity Loans | |
| Effective Date: May 10, 2013 | |
| Loan Type/Details | Annual Percentage Rate |
| 5 Year Fixed | 4.25% |
| 7 Year Fixed | 4.50% |
| 10 Year Fixed | 4.50% |
| 15 Year Fixed | 5.00% |
Variable Rate - Home Equity Line of Credit (HELOC) | |
| PRIME + 0% - reviewed monthly | 5.00% |
Variable Rate - Home Equity Advantage VISA Gold | |
| Variable Rate, PRIME + 0% Reviewed quarterly; with a floor of 5% |
5.00% |
| Miscellaneous & Savings Secured Loans | |
| Effective Date: May 10, 2013 | |
| Loan Type/Details | Annual Percentage Rate |
Easy Access Line of Credit |
11.50% |
| Savings Secured Loan | Share/Money Market Secured Loans: Prime Rate (5.00% minimum) CD Secured Loans: 1% above CD Rate (5.00% minimum) - 60 month max. term |
| Signature Loans | |
| Effective Date: May 10, 2013 | |
| Loan Type/Details | Annual Percentage Rate |
12 to 60 months |
10.25% to 22.25% |
Minimum payment is based on loan term: 12 months = $50 min. payment; 24 months = $75 min. payment; 36 months = $100 min. payment; 48 months = $125 min. payment; 60 months = $150 min. payment. Rate based on credit score. Minimum loan amount $1,000. | |
| VISA Credit Cards | |
| Effective Date: May 10, 2013 | |
| Loan Type/Details | Annual Percentage Rate |
VISA Classic |
11.50% non-variable for purchases |
| 11.50% non-variable for cash advances and balance transfers | |
VISA Platinum |
8.90% non-variable for purchases and balance transfers |
| 11.50% for cash advances | |
Home Equity Advantage VISA Gold |
5.00% Variable Rate (Prime+0%) |
No Annual Fee • Competitive Rates • No Hoops or Hidden Fees!
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