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MUSKEGON GOVERNMENTAL EMPLOYEES
FEDERAL CU
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Loan Rates
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Rates as of December 01, 2008
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CREDIT SCORES OF 780 OR ABOVE WILL RECEIVE A DEDUCTION OF .25%
FROM THE "A" CREDIT SCORE RATE, ON SECURED LOANS.
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Credit
Score
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*New Money Loan Rate APR
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** Refinanced Loan Rate APR
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Rates subject to change at any time, by direction of Board of Directors.
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Share Secured
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A,B,C,D,E
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4.50%
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5.00%
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New Vehicles-(Untitled)
With Vehicle as Collateral - CAR, TRUCK, MOTORCYCLE, MOTORHOME.
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A
B
C
D
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5.00%
5.50%
8.00%
13.75%
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8.00%
8.75%
10.75%
15.75%
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(2004 - 2008) With Vehicle as Collateral - CAR, TRUCK, MOTORCYCLE, MOTORHOME.
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A
B
C
D
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5.75%
6.50%.
9.00%
14.00%
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9.25%
10.00%
11.00%
16.00%
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(2001 - 2003)With Vehicle as Collateral - CAR, TRUCK, MOTORCYCLE, MOTORHOME.
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A
B
C
D
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6.50%
7.25%
10.00%
14.75%
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10.00%
10.75%
11.75%
16.75%
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(1998 - 2000) With Vehicle as Collateral - CAR, TRUCK, MOTORCYCLE, MOTORHOME.
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A
B
C
D
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8.25%
9.00%
10.75%
15.50%
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10.75%
11.50%
11.75%
17.50%
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New Recreation Vehicle
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A
B
C
D
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6.75%
7.50%
8.75%
15.50%
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11.75%
10.75%
10.75%
17.50%
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Used Recreation Vehicle
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A
B
C
D
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8.75%
9.50%
11.75%
16.50%
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10.75%
11.50%
13.50%
18.00%
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Closed End Signature Loan
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A
B
C
D
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12.50%
13.25%
14.50%
18.00%
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17.00%
17.00%
17.00%
18.00%
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Revolving Credit
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A,B,C
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12.00%
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N/A
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Overdraft Line of Credit Loan
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A,B,C
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15.00%
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N/A
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* If collateral covers 75% to 100% of the loan, this will be the rate.
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** A refinanced loan means adding money onto an existing loan at the Credit Union with additional collateral. If no new collateral is added, the rate will be 15% when refinancing an "A" paper score, 15 1/2% for a
"B" paper score, 16% for a "C" paper score, and 18% for a"D" paper score.
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HOME EQUITY LOANS - EFFECTIVE DECEMBER 02, 2008
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$5,000.00 NEW MONEY MINIMUM
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FIRST LIEN POSITION LTV WILL BE UP TO 80%
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SECOND LIEN POSITION LTV WILL BE UP TO 75%
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VARIABLE RATE LINE OF CREDIT HOME EQUITY
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CURRENT RATE 4.00% APR
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FIXED RATE HOME EQUITY
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"A" PAPER GRADE
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1st LIEN
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2nd LIEN
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5 YEAR
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4.75% APR
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5.50% APR
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10 YEAR
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5.50% APR
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6.25% APR
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15 YEAR
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7.25% APR
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8.00% APR
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"B" PAPER GRADE
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1st LIEN
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2nd LIEN
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5 YEAR
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5.00% APR
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5.75% APR
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10 YEAR
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6.00% APR
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6.75% APR
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15 YEAR
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7.75% APR
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8.50% APR
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VISA PLATINUM
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As low as 7.9% APR
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