Rates & Fees
SAVINGS RATES
All rates quoted are subject to change without notice; call CFCU for today's rates. The Annual Percentage Yields listed are accurate as of the last dividend declaration date. Fees, if any, may reduce earnings and affect APY calculations. Unless otherwise stated below, there is no minimum balance required to open additional savings accounts but a $1.00 minimum daily balance is required to earn the stated APY. Call the credit union for complete disclosures.
| Account Information | Dividend Rate | APY |
|---|---|---|
| Share Accounts - 4th Quarter 2008 (Prospective Rate) -- $5.00 minimum balance required to open account and earn the stated APY. | 1.00% | 1.00% APY |
| Checking Accounts - 4th Quarter 2008 | 0.75% | 0.75% APY |
| Vacation Club Accounts - 4th Quarter 2008 | 1.00% | 1.00% APY |
| IRA Accounts - 4th Quarter 2008 -- $5.00 minimum balance required to open account and earn stated APY. | 2.97% | 3.00% APY |
| Christmas Club - 2008-2009 -- Penalties apply for early withdrawal. | 1.00% | 1.00% APY |
High-Yield Deposit Accounts - November 2008
A minimum balance of $1,000 is required to open the account and earn the stated APY. Other restrictions apply. Call the credit union for complete disclosures.
| Account Information | Dividend Rate | APY |
|---|---|---|
| Balances from $1,000.00 to $24,999.99 | 1.74% | 1.75% APY |
| Balances from $25,000.00 to $49,999.99 | 1.98% | 2.00% APY |
| Balances from $50,000.00 to $99,999.99 | 2.47% | 2.50% APY |
| Balances $100,000.00 or higher | 2.72% | 2.75% APY |
Certificates
Certificate rates can change each Tuesday. All certificates require a $2,000 minimum balance to open the account and earn the stated APY. Substantial penalty for early withdrawal; call the credit union for complete disclosures.
| For the week November 18, 2008 - November 24, 2008 | ||
|---|---|---|
| Certificate Term | Interest Rate | APY |
| 6-11 Months | 2.77% | 2.80% APY |
| 14 Month Special | 4.17% | 4.25% APY |
| 12-17 Months | 3.49% | 3.55% APY |
| 18-23 Months | 3.59% | 3.65% APY |
| 24-35 Months | 3.69% | 3.75% APY |
| 37 Month Special | 4.65% | 4.75% APY |
| 36-47 Months | 3.98% | 4.05% APY |
| 48-59 Months | 4.07% | 4.15% APY |
| 60 Months | 4.12% | 4.20% APY |
Health Savings Accounts - November 2008
| Account Information | Dividend Rate | APY |
|---|---|---|
| Balances from $0.00 to $999.99 | 1.00% | 1.00% APY |
| Balances from $1,000.00 to $2,499.99 | 2.47% | 2.50% APY |
| Balances from $2,500.00 to $9,999.99 | 2.96% | 3.00% APY |
| Balances from $10,000.00 or higher | 3.45% | 3.50% APY |
High-Yield Deposit Accounts, Health Savings Accounts, and Certificates are compounded monthly. All share accounts and Vacation Accounts are compounded quarterly.
LOAN RATES
Please note: Loan rates listed here represent our best rate and are subject to change. Not all members will qualify for the best rate. The approximate term is provided to disclose the term we use to calculate payments for the credit union's open-end loan products.
Open End Consumer Loans
- Loans are based on credit approval.
- There are no transaction, membership, activity or participation fees.
- APR = Annual Percentage Rate.
- Rates are subject to change without notice. Call the credit union for current rates
| Loan Type | Term | Rate |
|---|---|---|
| New & Used Autos / Motorcycles 2005 - 2008 | Up to 60 Months | As Low As 5.00% APR |
| New & Used Autos / Motorcycles 2007 - 2008 | Up to 72 Months | As Low As 6.00% APR |
| Used Autos / Motorcycles 2004 & Older | Up to 48 Months | As Low As 5.00% APR |
| Luxury Autos / Motorcycles 2004 & Older | Up to 60 Months | As Low As 6.00% APR |
| Personal Watercraft, Snowmobiles, Off-Street Motorcycles & ATV | Up to 60 Months | As Low As 6.00% APR |
| Other Non-Titles Purchased Goods | Up to 60 Months | As Low As 8.00% APR |
| Other Secured/Unsecured Requests | Up to 60 Months | As Low As 9.00% APR |
| Prestige Line of Credit - Checking Account Required | 8.90% APR | |
| Qwik Chek Line of Credit - Checking Account Required | 12.60% APR | |
| Apply Now | ||
Credit Card Loans
- Loans are based on credit approval.
- There are no transaction, membership, activity or participation fees.
- APR = Annual Percentage Rate.
- Rates are subject to change without notice. Call the credit union for current rates
| Loan Type | Rate |
|---|---|
| VISA Classic | 12.60% APR |
| VISA Gold | 10.90% APR |
| VISA Platinum | 8.90% APR |
| Apply Now | |
Closed End Consumer Loans
- APR = Annual Percentage Rate.
| Loan Type | Term | Rate | Payment Amount |
|---|---|---|---|
| New & Used Boats / RV's* | 180 months max; 60 month balloon | As Low As 5.75% APR | $8.31 /mo per $1,000 borrowed based on maximum term. |
| New & Used Boats / RV's* | 120 months | As Low As 5.75% APR | $10.98 /mo per $1,000 borrowed based on maximum term. |
| New & Used Manufactured Homes** | 180 months max; 60 month balloon | As Low As 9.50% APR | $9.66 /mo per $1,000 borrowed based on maximum term. |
| Stock Secured*** | 240 months max; 60 month balloon | As Low As 9.50% APR | $9.33 /mo per $1,000 borrowed based on maximum term. |
| Share Secured | Will lend up to amount of shares pledged. | See Below. | |
| Apply Now | |||
- * New purchases only. May require 10% down.
- ** Requires 10% down.
- *** Maximum loan amount is 60% of the market value.
Share secured loans are issued at 2.5% above the rate earned on the shares pledged. The minimum rate is 6%. Rates adjust annually on February 1st. Call the credit union for current share rates.
REAL ESTATE RATES (For Mortgages offered through CFCU)
Please note: Rates
are subject to change without notice. Loan rates listed here represent our best rate and not all members will qualify for the best rate.
The actual interest rate available to you will be based on your credit history and LTV(Loan to Value) and may be different from
the rates disclosed below.
APR's are based on a loan amount of $120,000.
Mortgage applicants click here for additional disclosure information.
Primary Residence & Second Homes
- Purchase Transaction: Borrow up to 90% of the appraised value or sales price, whichever is less.
- Refinance Transaction: Borrow up to 80% (90% no "cash out") of the appraised value.
- **LTV's over 80% require PMI, Tax, and Insurance Escrow.
Balloon Mortgages
| Maximum Amortization Period | Balloon | Rate | APR | Payment Amount |
|---|---|---|---|---|
| 30 years | 5-year balloon | 5.625% Rate | 5.709% APR | $5.76 /mo per $1,000 borrowed. |
| 30 years | 7-year balloon | 5.750% Rate | 5.857% APR | $5.84 /mo per $1,000 borrowed. |
| 30 Years | 10-year balloon | 5.875% Rate | 5.959% APR | $5.92 /mo per $1,000 borrowed. |
| Term | Rate | APR | Payment Amount |
|---|---|---|---|
| 10 Year Fixed | 5.875% Rate | 5.989% APR | $11.04 /mo per $1,000 borrowed. |
| 15 Year Fixed | 6.000% Rate | 6.081% APR | $8.44 /mo per $1,000 borrowed. |
| 20 Year Fixed | 6.250% Rate | 6.316% APR | $7.31 /mo per $1,000 borrowed. |
| 30 Year Fixed | 6.375% Rate | 6.425% APR | $6.24 /mo per $1,000 borrowed. |
Vacant Land
- Borrow up to 70% of appraised value, or sales price, whichever is less.
| Term | Balloon | Rate | APR | Payment Amount |
|---|---|---|---|---|
| 15 years | 3-year balloon | 7.62% Rate | 7.849% APR | $9.34 /mo per $1,000 borrowed. |
Closing Costs
$300 application fee plus actual costs. (The $300 application fee will be applied towards the total costs at closing.) Total costs average $1,200 to $1,800, depending on the amount of the loan.
Before we order the appraisal, we require the deposit of $300, which will be held in your share account until closing. This appraisal fee is non-refundable should you cancel the loan requrest after the appraisal has been made.
HOME EQUITY RATES
There are no transaction, activity,
membership or participation fees.
Mortgage applicants click here for additional disclosure information.
Home Cash Equity Loan
- $25.00 Application Fee
- $100.00 Processing Fee
| Loan Information | Rate | APR | Payment Amount |
|---|---|---|---|
| -- $5,000 minimum; $50,000 maximum -- Up to 20 years, 5-year balloon | 7.500% Rate (90% of double SEV) | 7.564% APR | $8.06 /mo per $1,000 borrowed. |
-- If loan is <=80% of value(appraisal or double SEV| 7.250% Rate | 7.314% APR | $8.90 /mo per $1,000 borrowed. | |
Equity Line of Credit
- $25 application fee, $75 processing fee, 10 year draw period, 25 year amortization period.
- Additional charges may apply.
- Maximum rate 18%
| Loan Information | Rate | APR | Notes |
|---|---|---|---|
| -- $5,000 min; $50,000 max -- 90% of appraisal value or double SEV | 5.00% Rate | 5.00% APR (Variable - reviewed monthly) | Click here for additional disclosure information |
Rates are subject to change without notice. Call for current rates.
- Investment Properties
- Out of State Properties (primary residence and second home)
- New Construction(primary residence)
In partnership with Mortgage Center, the above products are available on property throughout the U.S. Call the mortgage department (989-249-8203 or 800-227-2328 x8203) for details.
STANDARD FEES
| Internet Account Access | FREE |
| Internet Bill Payer Service | FREE |
| American Express Travelers' Cheques | FREE |
| American Express Travelers' Cheques for Two | $.50 per $100 |
| Copy of Statement | $2.00 minimum, $.50 per page |
| Counter Checks | 4 for $1.00 |
| Money Orders | $.50 each |
| Printed Checking Account Histories | $1.00 per page |
| Photocopies of documents | 2 free copies, $.25 additional page |
| Personal FAX | $.50 per page |
| Replace lost/stolen ATM/Visa Check card | $3.00 |
| Replace lost/forgotten P.I.N. | $3.00 |
| Stop Payment on personal checks, pre-authorized drafts and electronic payments |
$22.50 |
| Third Party Corporate Check Withdrawal | 2 free/month; $1.00 each for bill paying |
| Personal Checking Account | No monthly account fee |
| NSF returned item, Check or EFT | $22.50 |
| Overdraft Charge | $22.50 |
| Deposited Checks Returned | $22.50 |
| Copies of checks cleared | 4 FREE per year; $2.00 per additional |
| Wires/Western Union | Contact the credit union |
| Copies of Visa Check Card purchase receipt | $6.00 |
| Check printing | Prices vary |
| Research Requests | $10.00 per hour +.50 per copy; $2.00 minimum |
| Account Reconciliation | $10.00 per hour |
| Quarterly Dormant Account Fee (Dormant 24 months or greater) | $5.00 |
| Returned Mail Fee | $2.00 |
| Escheat Fee | $20.00 |
| Check Cashing Fee* | $5.00 |
