Share • Auto • RVs • Signature Loans • Visa • Home Equity
|
New Autos
(as low as)
4.50%APR* |
Auto Loan Special!
Come see the Financial Institution You Own!
Apply Online
Some restrictions may apply • Call 734-243-5700 ext. 16
for pre-approved financing.
*APR = Annual Percentage Rate. This is a limited time offer beginning November 12, 2008. Offer is made for new loans only and is not available to refinance loans from Monroe Area Federal Credit Union. Advertised rate is available for new vehicle model years 2008 and 2009 for terms up to 48 months, and for used vehicle model years 2004 through 2007 for terms up to 36 months. Other rates and terms are available. Special offer does not qualify for a rate reduction for MAFCU Service Rewards. Must meet membership eligibility requirements which includes persons who live, work, worship, or attend school in Monroe County. Rates are subject to change at anytime without notice. MAFCU is an Equal Opportunity Lender.
|
Used Autos
(as low as)4.50%APR*
|
SHARE RATES
Share Savings Rates as of October 1, 2008. Rates accurate at time of posting and are subject to change.
| Share Account |
Rate |
APY |
Minimum Balance |
Valid Thru |
| Regular Share |
.40% |
.40% |
$5.00 |
04/01/2008 |
| Christmas Share Club |
.15% |
.15% |
$5.00 |
04/01/2008 |
| Vacation Share Club |
.15% |
.15% |
$5.00 |
04/01/2008 |
| Organizational Share |
.15% |
.15% |
$5.00 |
04/01/2008 |
| Insurance Share Account |
.15% |
.15% |
$5.00 |
04/01/2008 |
| Checking ( Share Draft) |
0% |
0% |
$0.00 |
N/A |
Certificates of
Deposit |
6 Months |
|
1 Year |
|
2 Years |
|
|
Balance |
Rate |
APY |
Rate |
APY |
Rate |
APY |
| Youth CD $100.00 |
|
|
2.60% |
2.63% |
2.75% |
2.78% |
| $500.00 and up |
2.25% |
2.27% |
2.40% |
2.42% |
2.60% |
2.63% |
| $10,000.00 and up |
2.50% |
2.52% |
2.70% |
2.73% |
2.90% |
2.93% |
Fixed IRA Certificate
of Deposit |
1 Year |
|
2 Year |
|
| Balance |
Rate |
APY |
Rate |
APY |
| $1,000.00 - $24,999.00 |
2.75% |
2.78% |
3.00% |
3.03% |
| $25,000.00 and up |
2.75% |
2.78% |
3.00% |
3.03% |
Service Rewards add .15% to any CD with a Home Equity Loan.
Service Rewards add .15% to any CD with Diredt Deposit and a Share Draft Account.
YOUR SAVINGS ARE FEDERALLY INSURED UP TO $100,000 BY THE NATIONAL CREDIT UNION ADMINISTRATION.
LOAN RATES 
Loan Rates as of November 12, 2008. Rates accurate at time of posting and are subject to change.
We now base loan approval and interest rate on credit score. Rates can be adjusted per
applicant based on qualifying criteria. Please contact the credit union for more details.
| New Cars 2009-2008 |
Annual Percentage Rate |
Term |
| 0% Down |
4.5%-12.5% APR* |
60 Months* |
| Used Cars 2007 and Older |
|
|
| 0% Down |
4.5%-12.5% APR* |
48 Months* |
*Special offer does not qualify for a rate reduction for MAFCU Service Rewards.
Terms are dependent upon amount financed. FIXED RATES for *asterisked* loan categories represent the lowest rate available to qualified borrowers. Rates are based on the member's credit history. A range of all rates is listed.
Check your credit report online free!
 |
Service Usage Rewards
1.Members electing to have direct deposit or payroll deduction and make monthly payments will qualify for a .50% interest rate reduction.
2.Members using a MAFCU VISA Card in good standing will qualify for a .25% interest rate reduction.
3.Members using a MAFCU checking account will qualify for a .25% interest rate reduction.
4.Member with the credit union for more than 5 years will qualify for a loyalty discount of .25% interest rate reduction.
NOTE: The maximum Service Usage Reward discount for each individual loan will be 1.00%. Service Usage Rewards are not applicable on promotional rates, new or used auto loans.
RECREATIONAL VEHICLES 
| New, 48-84 MONTHS* |
7.75%-18.00% APR** |
| Used, 48-84 MONTHS* |
7.75%-18.00% APR** |
*Annual Percentage Rates and Terms are subject to credit approval*
**5.00% DOWN PAYMENT REQUIRED ON ALL RECREATIONAL VEHICLES**
Terms are dependent upon amount financed. FIXED RATES for *asterisked* loan categories represent the lowest rate available to qualified borrowers. Rates are based on the member's credit history. A range of all rates is listed.
SIGNATURE AND SHARED SECURED LOANS
|
Signature Loans |
9.00%-18.00% APR* 0-36 Months |
| |
10.00%-18.00% APR* 37-60 Months |
| Share Secured Loan |
5.00% APR* |
Terms are dependent upon amount financed. FIXED RATES for *asterisked* loan categories represent the lowest rate available to qualified borrowers. Rates are based on the member's credit history. A range of all rates is listed.
| VISA |
Classic |
Platinum |
|
Annual Percentage Rate for Purchases |
11.90%
based on debt ratio of under 49% |
8.90%
based on credit worthiness |
| Annual Percentage Rate for Purchases |
12.90%
based on debt ratio of 50-64% |
8.90%
based on credit worthiness |
| Annual Percentage Rate for Purchases |
13.90%
based on debt ratio of 60-65% |
8.90%
based on credit worthiness |
| Annual Percentage Rate for Cash Advances |
Same as APR* for Purchases |
8.90% |
| Annual Percentage Rate for Balance Transfers |
Same as APR* for Purchases |
8.90% |
| Minimum Finance Charge |
$0.00 |
$0.00 |
| Annual Membership Fee |
$0.00 |
$0.00 |
| Grace Period for Repayment of the Balance for Purchases |
25 Days |
25 Days |
| Late Payment Fee |
$10.00 |
$10.00 |
| Method of computing the balance for Purchases |
Average Daily Balance including New Purchases. |
Average Daily Balance including New Purchases. |
*APR: Annual Percentage Rate
VISA loan categories represent the lowest rate available to qualified borrowers. Rates are based on the member's credit history and debt ratio. A range of all rates is listed.
HOME EQUITY LOAN INFORMATION
| Home Equity Revolving Line of Credit |
6.00%** |
**Rate based on Prime Rate + 1.00%. The rate index is the highest Prime Rate in effect on the day that any Introductory Rate period expires and, subsequently on the last day of June and December of each year. The minimum APR at any time is 6.00% and the maximum APR at any time is 18.00%.
APR: Annual Percentage Rate
APY: Annual Percentage Yield
Monroe Area Federal Credit Union
1510 East Elm Avenue
Monroe, Michigan
48162
734.243.5700
Fax: 734.243.3432
info@monroeareafcu.com
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