Current Loan Rates
Effective June 1, 2011
 |
Shown below are the various credit score categories that will be used to determine the rate a borrower will be charged for a new loan. The credit score is the main factor used by the Credit Union to determine the actual rate the member will pay. Rates shown in the first column (850 - 750) are the Credit Union's advertised rates. These rates may not include information on any special loans or programs being offered from time to time. Be sure to read our "special note" at the bottom of this page. |
| CREDIT (BEACON) SCORE EFFECT ON INTEREST RATES (Payment amount based on a $1,000 loan) |
| LOAN TYPE | Credit Score: | 850 - 750 | 749 - 700 | 699 - 650 | 649 - 600 | 599 - 550 | 549 - 500 |
| UNSECURED LOANS |
| Visa & MasterCard Credit Cards * Initial Monthly Payment Amount: |
12.00% $60.20 |
12.00% $60.20 |
12.00% $60.20 |
12.00% $60.20 |
12.00% $60.20 |
12.00% $60.20 |
| Signature Loan (36 months) Monthly Payment Amount: |
8.00% $31.34 |
8.50% $31.57 |
9.00% $31.80 |
10.00% $32.27 |
11.00% $32.74 |
12.00% $33.21 |
| Signature Loan (48 months, $5000 &+) Monthly Payment Amount: |
9.00% $24.89 |
9.50% $25.12 |
10.00% $25.36 |
11.00% $25.85 |
12.00% $26.33 |
13.00% $26.83 |
NEW VEHICLES (Includes Cars, Trucks, Boats and RV's) |
| (60 months, up to 15,000 miles) Monthly Payment Amount: |
2.75% $17.86 |
3.25% $18.08 |
4.25% $18.53 |
5.50% $19.10 |
6.75% $19.68 |
7.75% $20.16 |
| (72 months, up to 15000 miles) Monthly Payment Amount: |
3.25% $15.31 |
3.75% $15.53 |
4.75% $15.99 |
6.00% $16.57 |
7.25% $17.17 |
8.25% $17.66 |
USED VEHICLES (Includes Cars, Trucks, Boats and RV's) |
| ('11 - '07, 72 mo., up to 15000 miles) Monthly Payment Amount: |
4.25% $15.76 |
4.75% $15.99 |
5.25% $16.22 |
6.25% $16.69 |
7.25% $17.17 |
8.25% $17.66 |
| ('11 - '07, 60 mo., 15000 miles or more) Monthly Payment Amount: |
4.00% $18.42 |
4.50% $18.64 |
5.00% $18.87 |
6.00% $19.33 |
7.00% $19.80 |
8.00% $20.28 |
| ('06 - '03, 60 mo.) Monthly Payment Amount: |
4.25% $18.53 |
4.75% $18.76 |
5.25% $18.99 |
6.25% $19.45 |
7.25% $19.92 |
8.25% $20.40 |
| ('02 - '99, 36 mo.) Monthly Payment Amount: |
5.25% $30.08 |
5.75% $30.31 |
6.25% $30.54 |
7.25% $30.99 |
8.25% $31.45 |
9.25% $31.92 |
| ('98 - older, 36 mo.) Monthly Payment Amount: |
5.75% $30.31 |
6.25% $30.54 |
6.75% $30.76 |
7.75% $31.22 |
8.75% $31.68 |
9.75% $32.15 |
MORTGAGE LOANS (First Mortgage ***, Owner Occupied) |
| (Fixed Rate - 8 years) Monthly Payment Amount: |
5.50% $12.90 |
6.00% $13.14 |
6.50% $13.39 |
7.50% $13.88 |
|
|
| (Fixed Rate - 15 years) Monthly Payment Amount: |
6.00% $8.44 |
6.50% $8.71 |
7.00% $8.99 |
8.00% $9.56 |
|
|
| (Fixed Rate - 30 years) Monthly Payment Amount: |
6.50% $6.32 |
7.00% $6.65 |
7.50% $6.99 |
8.50% $7.69 |
|
|
| Home Equity** (Variable Rate - 10 years) Monthly Payment Amount: |
5.25% $10.73 |
5.25% $10.73 |
5.25% $10.73 |
5.25% $10.73 |
5.25% $10.73 |
5.25% $10.73 |
DEPOSIT ACCOUNT "SHARE" SECURED LOANS |
| Share Secured | 2.0%, term and payment set at time of loan |
| Certificate Secured | 2.0% above the certificate rate, term and payment set at time of loan |
From time to time, we may offer a "special" loan that will have its own terms, features and requirements. Usually this loan type will be available for a limited time only, and offered at set times of the year. Please check with us to from time to time to see what is currently available.
Please note that additional underwriting quidelines must be met before the borrower can be approved for a loan. Also, the above score numbers are based on the Fair Isaac Beacon Score the EPB Employees Credit Union obtains from ChoiceDATA/Equifax.
* Credit Card loans require a monthly payment that will pay the interest due AND reduce the principal balance by 5%. The payments shown above reflect the first full monthly payment only. The term usually calculates to be approximately an 18-month amortization (as long as payments are made and no additional charges are added to the balance).
** Home Equity loans are variable rate loans. The payment is subject to change beginning each January 1st. The rate and payment amount shown here are based on the initial year only.
*** The credit score for First Mortgage Loans cannot be 624 or less.
SPECIAL NOTE: On New and Used Vehicle Loans and Mortgage Loans (except Home Equity), if your loan-to-collateral value is 80% or less, then the above rates will be lowered by 0.50%. Collateral value is usually determined from invoice, appraisal report, NADA or New Car Cost Guide publications. |