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 Consumer Loans  |  Payment Examples  |  VISA® Rates  |  Mortgage Loans  |  Loan Calculator  |  Loan Application

 

Consumer Loans* (Current as of July 1, 2008) 

Type

Term (Months)

Fixed Rate (APR)

Variable Rate/Margin

Index Code**

20% Down

10% Down

0% Down

New/Used Car
(2000-2008)º  

Up to 48

4.50%

4.50%

4.50%

Suspended

9

Up to 60

5.70%

5.70%

5.70%

Suspended

9

Up to 72

6.20%

6.20%

6.20%

Suspended

9

 

Up to 84

6.70%

6.70%

6.70%

   

Older Used Cars²

Up to 60

7.75%

7.75%

Suspended

9

Type

Term (Months)

Minimum Down

Fixed Rate

Variable Rate

Index Code

Variable Margin

New Recreational Vehicle

240

10%

6.00%

 Suspended

 9

 Suspended

Used Recreational Vehicle

144

15%

6.00%

 Suspended

 9

 Suspended

Share Secured

120

N/A

 3.50%

 9

 0.00%

Miscellaneous Collateral

Up to 60

10%

6.00%

Suspended

9

Suspended

Mixed Collateral/Signature³

72

11.50%

9.00%

9

5.50%

Youth Loan

12

8.75%

6.50%

9

3.00%

Certificate Secured

Maturity

CD + 3%

N/A

N/A

N/A

Type

Term (Months)

Minimum Monthly Payment

Fixed Rate

Variable Rate

Index Code

Variable Margin

Visa®

Revolving

$15

14.95%

N/A

N/A

N/A

Platinum Visa®

Revolving

$15

8.95%

N/A

N/A

N/A

Signature

Up to 72

14.00%

10.00%

9

6.25%

*All loans are subject to Metro 1 Credit Union's Custom Loan Rate Policy.  The custom rate for each individual loan will be assigned at the time the loan is underwritten based on the member's credit-worthiness.  Loan rates, terms and policies are subject to change and all loan requests are subject to credit approval.

**The variable rate index currently used (9) is based on the 5-Year Treasury Note, rounded up to the nearest 0.250%.  The current rate is:  3.50%

Representative Examples

º Pay $19 per month per $1000 borrowed for 60 months at 5.20% fixed APR with a down-payment of 0% of the amount borrowed.  If your loan has a variable rate, the rate may increase after consummation.

¹ Pay $15 per month per $1000 borrowed for 84 months at 6.40% fixed APR with a down-payment of 0% of the amount borrowed.  If your loan has a variable rate, the rate may increase after consummation.

² Pay $21 per month per $1000 borrowed for 60 months at 7.75% fixed APR with a down-payment of 0% of the amount borrowed.  If your loan has a variable rate, the rate may increase after consummation.

³ Pay $23 per month per $1000 borrowed for 60 months at 13.75% fixed APR with a down-payment of 0% of the amount borrowed.  If your loan has a variable rate, the rate may increase after consummation.

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Classic Visa® Credit Card Rates and Disclosure 

Rates 

Annual Percentage Rate

11.95% — 19.95%

Disclosure 

Grace period for repayment of the balance for purchases

25 days to repay the balance before a finance charge on purchases will be imposed

Grace period for repayment of the balance for cash advances

None

Method of computing balance for purchases and cash advances

Average Daily Balance (including new purchases)

Annual fees

None

Minimum finance charge

None

Transaction fee for cash advances

2% of the cash advance amount

Late-payment fee

$10.00 when your Minimum Monthly Payment is ten (10) days late after the Payment Due Date

Over-the-credit-limit fee

$10.00

Platinum Visa® Credit Card Rates and Disclosure 

Rates