Loan Rates

Loan Rates effective as of 1/1/2022
Savings & Certificates Rates effective as of 4/1/2020

Loan applications with joint maker signing will constitute joint/cosigner responsibilities.

All loan rates are fixed unless noted as variable rate.

We are required to ask you for income verification to complete all loan requests.

100% financing is based on NADA Clean Retail + Options + / – mileage adjustment.

You can research a used vehicle value at www.nada.com.

Loan Type

Term

APR*

Auto and Truck Loan

100% financing of NADA Clean Retail Value or MSRP if New, Model years 2012-present

The older the vehicle, the shorter the term and higher the interest rate. Rate is FIXED. Stated rates for new to 2 years old.  An extra year’s term adds 1% to stated loan rate.

Up to 5 years**

FIXED RATE as low as 3.25%*** to 4.50%

Auto and Truck Loan

80% financing of NADA Clean Retail Value or MSRP if New, Model years 2012-present

The older the vehicle, the shorter the term and higher the interest rate. Rate is FIXED. Stated rates for new to 2 years old.  An extra year’s term adds 1% to stated loan rate.

Up to 5 years**

FIXED RATE as low as 2.75% to 4.00%

Motorcycle, RV, and Boat Loans

100% financing of NADA Retail Value or MSRP if New, Model years 2012-present

The older the vehicle, the shorter the term and higher the interest rate. Rate is FIXED. Stated rates for new to 2 years old.  An extra year’s term adds 1% to stated loan rate.

Up to 5 years**

FIXED RATE as low as 5.00% to 5.75%

Signature Loans and Signature Line-Of-Credit

Interest rate is a fixed and is based on credit score.
Line-Of-Credit has a minimum advance of $100.00 per transaction requirement. No additional fees or charges.

Up to approx. 3 years

FIXED RATE Line of Credit 10.9% to 17.9%

Closed End 9.9% to 16.9%

12 / 12 Loan

Rate is fixed.

1 year

FIXED RATE 10.99% to 16.99%

Home Improvement Loan

Contact us for details. Rate is fixed.

Up to 10 years

FIXED RATE 5.25% to 9.75%

Real Estate / Mortgage Loans

Contact Lucy (NMLS# 1140548) on phone extension 16 or email address:  realestate@kembaky.org

Credit Union NMLS #414341

Share (Savings) or CD Secured Loan

IRA CD not eligible. Rate is fixed.

3% above earning rate of pledged funds

*APR = Annual Percentage Rate
All loan rates mentioned above are Fixed Rates, meaning that the rates will not/ cannot fluctuate after consummation of the loan. The only exception is our Revolving Home Equity Line-Of-Credit, which has a variable rate that may change only twice a year – April 1st and October 1st.
Members who will qualify for the lowest rates will have a credit score of at least 680 when the credit union employee pulls the Transunion credit report using the FICO-Classic scoring.

 

 

** Up to 6 years available if financing over $20,000 and 80% financing at stated APR + 1%

 

 

*** Example: Vehicle’s NADA Clean Retail Value is $25K and you finance only $20K on a new to 2 year old vehicle, (and the best credit score) THEN 2.25% APR, 60 months = Rate per $1,000 borrowed monthly factor is $17.65. A loan financing $20,000 would be a monthly payment of $353.16 before any add-ons, such as Credit Insurance, GAP+ADR or Extended Warranty.
If the credit score is the lowest score, then on a new to 2 year old vehicle 10.00% APR, 60 months = Rate per $1,000 borrowed monthly factore is $21.26. A loan financing $20,000 would be a monthly payment of $425.47 before any add-ons, such as Credit Insurance, GAP+ADR or Extended Warranty. APR stands for ‘Annual Percentage Rate’.

 

 

NOTE : You must send income verification to the credit union to complete all loan requests. Please include ‘household’ income regardless of joint/cosigner signing or not.

 

Saving & Certificate Rates

Investment Rates as of April 1, 2022

Federally insured by NCUA.

Rates may change after account is opened.
Fees could change the earnings on the account.
Minimum deposit to open account is $5.00 (Five Dollars)

Savings Minimum Balance Dividend / Interest Rate%*
Regular Share / Savings $5.00 0.10
Share Draft / Checking n/a 0.10
Christmas Club (no minimum deposit) n/a 0.10

*APY = Annual Percentage Yield

Certificates* Term Dividend / Interest Rate% APY%*
Federally insured by NCUA 91 DAY 0.30 0.30
Federally insured by NCUA 6 MONTH 0.40 0.40
Federally insured by NCUA 12 MONTH 0.60 0.60
Federally insured by NCUA 18 MONTH 0.65 0.65
Federally insured by NCUA 24 MONTH 0.70 0.70
Federally insured by NCUA 30 MONTH 0.80 0.80
Federally insured by NCUA 36 MONTH 0.90 0.90
Federally insured by NCUA 48 MONTH 1.00 1.00
Federally insured by NCUA 60 MONTH 1.20 1.20
IRA - 1 st QUARTER PASSBOOK 0.25 0.25
IRA - 1 st QUARTER 18 MONTH 0.65 0.65
IRA - 1 st QUARTER 24 MONTH 0.70 0.70
IRA - 1 st QUARTER 30 MONTH 0.80 0.80

*All require a $500.00 minimum deposit