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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: March 18, 2014
Loan Type/DetailsTermAnnual Percentage Rate

2004 Vehicles and newer

   
New to 2004 vehicles Up to 60 months 2.49% to 13.10%
New to 2004 vehicles Up to 66 months 2.49% to 13.10%
Loan amounts over $23,000 Up to 72 months 2.79% to 13.35%

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

   
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: March 18, 2014
Loan Type/DetailsAnnual Percentage Rate

New to 2005 RVs, Campers, Travel Trailers, Boats and Motorhomes

Up to $7,000 | 36 months

3.70% - 15.70%

$7,000 to $15,000 | 60 months

3.70% - 15.70%

$15,000 and up | 84 months

4.70% - 16.70%

$15,000 and up | 120 months | 7 year balloon

4.70% - 16.70%

$75,000 and up | 180 months | 7 year balloon

4.95% - 16.95%

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: March 18, 2014
Loan Type/DetailsAnnual Percentage Rate
Up to $20,000 - 60 months 3.70% to 15.70%
$20,000 and up - 72 months 3.95% to 15.95%

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: Monday, April 21st, 2014
Loan Type/DetailsNote Rate | Rate After Prepaids*

15 Year Fixed

as low as 3.500% | 3.634%

20 Year Fixed

as low as 4.125% l 4.231%

30 Year Fixed

as low as 4.500% I 4.578%

5 Year Balloon | 30 Year Amortization

as low as 3.375% | 3.406%

7 Year Balloon | 30 Year Amortization

as low as 3.375% | 3.406%

10 Year Balloon | 30 Year Amortization

as low as 3.375% | 3.406%

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: March 18, 2014
Loan Type/DetailsAnnual Percentage Rate
5 Year Fixed 4.49%
7 Year Fixed 4.75%
10 Year Fixed 4.75%
15 Year Fixed 5.99%

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: March 18, 2014
Loan Type/DetailsAnnual 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: March 18, 2014
Loan Type/DetailsAnnual 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: March 18, 2014
Loan Type/DetailsAnnual Percentage Rate

VISA Classic
Lines of Credit: $500 to $5,000

11.50% non-variable for purchases
  11.50% non-variable for cash advances and balance transfers

VISA Platinum
Lines of Credit: $5,000 to $20,000

8.90% non-variable for purchases and balance transfers
  11.50% for cash advances

Home Equity Advantage VISA Gold
Lines of Credit: $5,000 to $50,000

5.00% Variable Rate (Prime+0%)


VISA Classic and VISA Platinum minimum payments are calculated at 3% of the outstanding balance or $10. Home Equity VISA Advantage Gold minimum payments are at 1.5% of the outstanding balance or $10. No  automatic interest rate increases except in cases of severe delinquency (60 days past due). 

No Annual Fee • Competitive Rates • No Hoops or Hidden Fees!

 

Building lifetime member relationships as a trusted financial partner
Equal Housing LenderNational Credit Union Administration
NCUA - Your savings federally insured to at least $250,000 and backed by the full faith and credit of the United States Government. National Credit Union Administration, a U.S. Government agency. Equal Housing Lender - We do business in accordance with the Fair Housing Law and Equal Opportunity Credit Act