*APR = Annual Percentage Rate. All loans are subject to credit approval and membership eligibility. Other terms and conditions may apply.
1 . Maximum loan amount may be lower than stated depending on the loan type and your credit score, income, debt-to-income, repayment term and total amount of unsecured debt with MECU.
2. ATM fees may apply. For additional information, please view our credit card disclosure
3. May be subject to closing costs. MECU will pay the initial closing costs on a “Standard” Home Equity. If the account is paid off and closed within 12 months of original note date, closing costs must be reimbursed to MECU by the borrower. Closings costs vary and generally range around $850 to $1,000 on a $20,000 loan.
4. “Your High-Interest Debt” Example: includes one major credit card, two store cards and a personal line of credit. Major credit card - $5,000 balance at 18.00% APR and a minimum monthly payment of $200. Store card #1 - $3,000 balance at 21.00% APR and a minimum monthly payment of $120. Store card #2 - $3,500 balance at 22.00% APR with a minimum monthly payment of $140. Personal line of credit - $8,500 balance at 9.40% APR with a minimum monthly payment of $340.
5. “MECU Personal Loan” Example: based on a $20,000 loan amount at 12.24% APR with a 60-month repayment term and a $446.91 monthly payment.
6. “MECU Home Equity Loan” Example: based on a $20,000 loan amount at 4.49% APR (maximum loan-to-value ratio of 80%) with a 60-month repayment term and a $372.86 monthly payment.