Loan Rates
Lending is what ICCU does best, and has 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.
Save Money: Invest in a 10 minute conversation with an ICCU Loan Officer before you buy or finance any big ticket item. In most cases, ICCU will help you save money. Call 989-773-5927 with your question. No question is too silly, and your credit union is here to help.
Automobile Rates • RV Rates • Street Motorcycle Rates
Mortgage Rates • HELOC Rates • Lifestyle Loan Rates • Signature Loans • VISA Rates
| Automobiles, Cars and Light Trucks | ||
| Effective Date: Thursday, February 23rd, 2012 | ||
| Loan Type/Details | Term | Annual Percentage Rate |
2011 to 2008 Vehicles |
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| Up to 36 months | 2.95% to 9.05% | |
| Up to 60 months | 3.35% to 9.45% | |
| Up to 66 months | 3.45% to 9.55% | |
| Loan amounts over $23,000 | Up to 72 months | 3.55% to 9.65% |
Brand new and program cars, auto and light trucks. 100% financing available to qualified applicants. Up to 75% financing on salvage titles. Rates based on credit score. | ||
2007 to 2004 Vehicles |
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| Up to 60 months | 3.45% to 9.80% | |
| Up to 66 months | 3.55% to 9.90% | |
| Loan amounts over $23,000 | Up to 72 months | 3.65% to 10.00% |
Autos and light trucks. 100% financing to qualified applicants. Up to 75% financing on salvage titles. Rates based on credit score. Credit Committee approval may be required for 66 to 72 month terms. | ||
All Other SECURED Loans |
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| 90% financing to qualified applicants | Up to 60 months | 6.39% to 12.89% |
Includes jet skis, four wheelers, snowmobiles, and older vehicles. Rates based on credit score. | ||
| Recreational Vehicles (RVs) | |
| Effective Date: Thursday, February 23rd, 2012 | |
| Loan Type/Details | Annual Percentage Rate |
2011 to 2009 Campers, Travel Trailers, Boats and Motorhomes | |
| Up to $7,000 - 36 months | 6.14% - 14.69% |
| $7,000 to $15,000 - 60 months | 6.24% - 14.69% |
| $15,000 and up - 84 months | 6.34% - 14.69% |
| $15,000 and up - 120 months/7 yr. Balloon | 6.24% - 14.69% |
| $75,000 and up - 180 months/7 yr. Balloon | 6.24% - 14.69% |
90% financing to qualified applicants. Rate based on credit score. | |
| Street Motorcycles | |
| Effective Date: Thursday, February 23rd, 2012 | |
| Loan Type/Details | Annual Percentage Rate |
| Up to $20,000 - 60 months | 3.89% to 9.99% |
| $20,000 and up - 72 months | 4.39% to 10.49% |
90% financing to qualified applicants. Rate based on credit score. | |
| Mortgage Rates | |
| Effective Date: Thursday, February 23rd, 2012 | |
| Loan Type/Details | Annual Percentage Rate |
| 15 Year Fixed (as low as) | 3.125% |
| 20 Year Fixed (as low as) | 3.750% |
| 30 Year Fixed (as low as) | 3.875% |
| 5 Year Balloon/30 year amortization | 3.250% |
| 7 Year Balloon/30 year amortization | 3.500% |
| USDA Rural Development: 30 Year Fixed (as low as) | 4.250% |
| MSHDA - 30 year fixed; max. 80% LTV | 4.750% |
| Vacant Land Loans: 5 Year Balloon | 6.250% |
| Vacant Land Loan: 7 Year Balloon | 7.250% |
ICCU's mortgage rates are subject to change daily, typically around 12:00 noon. | |
| Home Equity Loans | |
| Effective Date: Thursday, February 23rd, 2012 | |
| Loan Type/Details | Annual Percentage Rate |
| 5 Year Fixed | 5.50% |
| 7 Year Fixed | 5.75% |
| 10 Year Fixed | 5.95% |
| 15 Year Fixed | 6.45% |
Variable Rate - Home Equity Line of Credit (HELOC) | |
| PRIME + 0% - reviewed monthly | 5.00% |
| Home Equity Advantage VISA Gold | |
| Variable Rate, PRIME + 0% Reviewed quarterly; with a floor of 5% |
5.00% |
| Miscellaneous & Savings Secured Loans | |
| Effective Date: Thursday, February 23rd, 2012 | |
| Loan Type/Details | Annual Percentage Rate |
| Easy Access Line of Credit (LOC) Can be used for overdraft protection |
11.50% |
| Savings Secured Loan | Share/Money Market Secured Loans: Prime Rate (5.00% minimum) CD Secured Loans: 2% above CD Rate (5.00% minimum) - 60 month max. term |
| Signature Loans | |
| Effective Date: Thursday, February 23rd, 2012 | |
| Loan Type/Details | Annual Percentage Rate |
| 12 to 60 months | 10.50% to 15.50% |
12 months = $50 min. payment; 24 months = $75 min. payment; 36 months = $100 min. payment; | |
| VISA Credit Cards | |
| Effective Date: Thursday, February 23rd, 2012 | |
| Loan Type/Details | Annual Percentage Rate |
| VISA Classic Line of Credit: $300 to $5,000 |
11.50% non-variable for purchases |
| 11.50% non-variable for cash advances and balance transfers | |
| VISA Platinum Line 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 Line of Credit: $5,000 - $50,000 |
5.00% Variable Rate (Prime+0%) |
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