| Account Type | Dividend Rate | APY | Dividends Paid |
|---|---|---|---|
| Regular Share | 0.05% | 0.05% | Quarterly |
| Christmas Club Account | 0.05% | 0.05% | Quarterly |
| Vacation Club Account | 0.05% | 0.05% | Quarterly |
APY = Annual Percentage Yield Dividends are calculated using the daily balance, paid and compounded quarterly. $100 minimum balance required to earn dividends if age 18 or older. No minimum balance required if under 18. Dividend rate is subject to change at any time. Fees may reduce earnings on the regular savings account. All member accounts are insured up to $1,000,000 (one million dollars) - Federally insured by NCUA up to $250,000 and insured up to an additional $750,000 by Excess Share Insurance, a private insurance company. | |||
| Minimum Deposit Amount | Rate | APY | Dividends Paid |
|---|---|---|---|
| $2,500-$9,999 | 0.45% | 0.45% | Monthly |
| $10,000-$24,999 | 0.65% | 0.65% | Monthly |
| $25,000-$49,999 | 0.85% | 0.85% | Monthly |
| $50,000-$74,999 | 1.09% | 1.10% | Monthly |
| $75,000-$99,999 | 1.19% | 1.20% | Monthly |
| $100,000-$249,999 | 1.54% | 1.55% | Monthly |
| $250,000-$499,999 | 1.59% | 1.60% | Monthly |
| $500,000 and up | 1.638% | 1.65% | Monthly |
APY = Annual Percentage Yield Dividends are calculated using the daily balance, paid and compounded monthly. $2500 minimum balance required to open and to earn dividends. Dividend rate is subject to change at any time. All member accounts are insured up to $1,000,000 (one million dollars) - Federally insured by NCUA up to $250,000 and insured up to an additional $750,000 by Excess Share Insurance, a private insurance company. | |||
| Account Type | Dividend Rate | APY | Dividends Paid | Penalties | Note |
|---|---|---|---|---|---|
| 3 Month Cert / IRA | 2.96% | 3.00% | At Maturity | 90 days* | |
| 6 Month Cert / IRA | 3.93% | 4.00% | At Maturity | 90 days* | |
| 12 Month Cert / IRA | 3.69% | 3.75% | Monthly | 180 days* | |
| 18 Month Cert / IRA | 3.45% | 3.50% | Monthly | 180 days* | |
| 24 Month Cert / IRA | 2.96% | 3.00% | Monthly | 180 days* | |
| 36 Month Cert / IRA | 2.72% | 2.75% | Monthly | 180 days* | |
| 48 Month Cert / IRA | 2.72% | 2.75% | Monthly | 180 days* | |
| 60 Month Cert / IRA | 2.72% | 2.75% | Monthly | 180 days* | |
APY = Annual Percentage Yield A minimum of $1,000 is required to purchase all Share Certificates. * Penalty for early withdrawal of funds may apply on Certificate products. All member accounts are insured up to $1,000,000 (one million dollars) - Federally insured by NCUA up to $250,000 and insured up to an additional $750,000 by Excess Share Insurance, a private insurance company. | |||||
| Account Type | Dividend Rate | APY | Dividends Paid | Penalties | Note |
|---|---|---|---|---|---|
| 12 Month Heroes Cert / IRA | 3.79% | 3.85% | Monthly | 180 days* | |
| 18 Month Heroes Cert / IRA | 3.55% | 3.60% | Monthly | 180 days* | |
| 24 Month Heroes Cert / IRA | 3.05% | 3.10% | Monthly | 180 days* | |
| 36 Month Heroes Cert / IRA | 2.81% | 2.85% | Monthly | 180 days* | |
| 48 Month Heroes Cert / IRA | 2.81% | 2.85% | Monthly | 180 days* | |
| 60 Month Heroes Cert / IRA | 2.81% | 2.85% | Monthly | 180 days* | |
APY = Annual Percentage Yield | $1,000 minimum deposit required to earn Heroes Certificate rates. *Penalty for early withdrawal of funds may apply on Certificate products. Heroes CD/IRA CD rates only apply to those opened after program enrollment. If you have an existing CD/IRA CD prior to enrollment, contact us at maturity to switch your CD/IRA CD type to Heroes. All member accounts are insured up to $1,000,000 (one million dollars) - Federally insured by NCUA up to $250,000 and insured up to an additional $750,000 by Excess Share Insurance, a private insurance company. | |||||
| Year | Fixed APR As Low As | Term | Note |
|---|---|---|---|
| 2018-2025 | 4.99% | Up to 66 Months | |
| 2018-2025 | 5.29% | up to 66 Months | Available for >100% LTV. |
| 2019-2025 | 5.99% | up to 75 Months | Available for <90% LTV or Heroes Program Members |
| 2019-2025 | 6.29% | up to 75 Months | |
| 2019-2025 | 6.39% | Up to 84 Months | Available for <90% LTV or Heroes Program Members |
| 2019-2025 | 6.69% | Up to 84 Months | |
| 2023-2025* | 8.25% | 85 to 120 Months | |
Example: A loan amount of $25,000 with a rate as low as 4.99% for 66 months would have an approximate monthly payment of $434.00 APR = Annual Percentage Rate *Credit score 700+ required. Available for up to 75% financing. Subject to approval. Approval and actual rate and term offered is based on overall creditworthiness factors and satisfactory collateral. | |||
| LTV's up to 115% are available. All used collateral older than model years listed above will be considered on an individual basis. Contact us for more information. Restrictions apply. | |||
| Year | Fixed APR As Low As | Term | Note |
|---|---|---|---|
| 2017 and Older | 8.20% | Up to 48 Months | Max 85% LTV. Heroes Program Members eligible for 0.25% rate discount. |
Example: A loan amount of $15,000 with a rate as low as 8.20% for 48 months would have an approximate monthly payment of $368.00 APR = Annual Percentage Rate | Maximum LTV of 85% | 150,000 maximum mileage at time of application. Contact us for more information. CARFAX Report pulled on all vehicles. Additional restrictions apply. | |||
| Subject to approval. Approval and actual rate and term offered is based on overall creditworthiness factors and satisfactory collateral. | |||
| Year | Fixed APR As Low As | Term | Note |
|---|---|---|---|
| 1998 & Older | 7.10% | Up to 48 Months | Max 90% LTV. Heroes Program Members eligible for 0.30% rate discount. |
| 1998 & Older | 7.60% | Up to 75 Months | Max 90% LTV. Heroes Program Members eligible for 0.30% rate discount. |
Example: A loan amount of $20,000 with a rate as low as 6.80% for 48 months would have an approximate monthly payment of $477.00 APR = Annual Percentage Rate | Maximum LTV of 90% | $100,000 maximum loan amount. Loan amounts greater than $100,000 will be reviewed on a case by case basis. Contact us for more information. CARFAX Report pulled on all vehicles. Additional restrictions apply. | |||
| Subject to approval. Approval and actual rate and term offered is based on overall creditworthiness factors and satisfactory appraisal of collateral. | |||
| Loan Type | Age | Minimum or Maximum | Fixed APR As Low As | Term | Note |
|---|---|---|---|---|---|
| Boat or RV | 2019 & Newer | $5,000 Min/$125,000 Max | 6.85% | Up to 60 Months | Available for <85% LTV or Heroes Program Members |
| Boat or RV | 2019 & Newer | $5,000 Min/$125,000 Max | 7.15% | Up to 60 Months | |
| Boat or RV | 2019 & Newer | $7,500 Min/ $125,000 Max | 7.10% | Up to 84 Months | Available for <85% LTV or Heroes Program Members |
| Boat or RV | 2019 & Newer | $7,500 Min/ $125,000 Max | 7.40% | Up to 84 Months | |
| Boat or RV | 2019 & Newer | $15,000 Min/ $125,000 Max | 7.20% | Up to 120 Months | Available for <85% LTV or Heroes Program Members |
| Boat or RV | 2019 & Newer | $15,000 Min/ $125,000 Max | 7.50% | Up to 120 Months | |
| Boat or RV | 2019 & Newer | $25,000 Min/$125,000 Max | 7.70% | Up to 144 months | Available for <85% LTV or Heroes Program Members |
| Boat or RV | 2019 & Newer | $25,000 Min/$125,000 Max | 8.00% | Up to 144 months | |
| Boat or RV | 2019 & Older | $35,000 Min/$125,000 Max | 7.95% | Up to 180 months | Available for <85% LTV or Heroes Program Members |
| Boat or RV | 2019 & Older | $35,000 Min/ $125,000 Max | 8.25% | Up to 180 months | |
Rates for older boats and RVs are available. Please contact us for details. Payment Example: A loan amount of $50,000 with a rate as low as 6.85% for 60 months would have an approximate monthly payment of $987.00 APR = Annual Percentage Rate Subject to approval. Approval and actual rate and term offered is based on overall creditworthiness factors and satisfactory collateral. Restrictions Apply. | |||||
| Year | Fixed APR As Low As | Minimum or Maximum | Term | Note |
|---|---|---|---|---|
| 2019-2025 | 7.00% | $5,000 Min/$40,000 Max | Up to 48 Months | Available for <85% LTV or Heroes Program Members |
| 2019-2025 | 7.30% | $5,000 Min/$40,000 Max | Up to 48 Months | |
| 2019-2025 | 7.30% | $5,000 Min/$40,000 Max | Up to 60 Months | Available for <85% LTV or Heroes Program Members |
| 2019-2025 | 7.60% | $5,000 Min/$40,000 Max | Up to 60 Months | |
| 2019-2025 | 7.55% | $10,000 Min/$40,000 Max | Up to 84 Months | Available for <85% LTV or Heroes Program Members |
| 2019-2025 | 7.85% | $10,000 Min/$40,000 Max | Up to 84 Months | |
Example: A loan amount of $7,500 with a rate as low as 7.30% for 48 months would have an approximate monthly payment of $180.00 APR = Annual Percentage Rate Model Years 2017 and older will be considered on an individual basis Subject to approval. Approval and actual rate and term offered is based on overall creditworthiness factors and satisfactory collateral. | ||||
| Adjustable APR As Low As | LTV & Lien Requirements | Minimum or Maximum |
|---|---|---|
| 4.99%* | 60% CLTV or 80% LTV First Lien | $5,000 Min/$250,000 Max |
| 4.99%* | 60.01%-80% CLTV | $5,000 Min/$150,000 Max |
| APR = Annual Percentage Rate | ||
Financing is only available on single unit, owner-occupied, primary residences located in the state of Michigan *Introductory offer. Available for the first 9 months after the loan closes (not when the advance is made). After the introductory period, the loan reverts to the APR as stated in the HELOC addendum. Rates are not risk-based; all members will get the same low rate based on loan to value of their home. Maximum APR of 18.0%. All loan terms and conditions are subject to Credit Union qualifications and creditworthiness. Some restrictions may apply. | ||
| Term | Rates as low as | LTV & Lien Requirements |
|---|---|---|
| Up to 7 Years | 6.25% | 65% CLTV 2nd Lien or 80% LTV 1st Lien |
| Up to 7 Years | 7.00% | 65.01% to 80% CLTV | 2nd Lien |
| 10 Years | 6.60% | 65% CLTV 2nd Lien or 80% LTV 1st Lien |
| 10 Years | 7.35% | 65.01% to 80% CLTV | 2nd Lien |
| 15 Years | 6.875% | 65% CLTV 2nd Lien or 80% LTV 1st Lien |
| 15 Years | 7.625% | 65.01% to 80% CLTV | 2nd Lien |
| 20 Years | 7.50% | 65% CLTV 2nd Lien or 80% LTV 1st Lien |
| 20 Years | 8.50% | 65.01% to 80% CLTV | 2nd Lien |
This financing option is only available on single unit, owner-occupied, primary residences located in the state of Michigan Rates are not risk-based; all members will get the same low rate based on the loan to value of their home and LOC's lien position. *Maximum loan amount for up to 3 year term is $20,000. Minimum amount to borrow is $5,000; maximum amount is $300,000. | ||
Approval is based on overall creditworthiness factors and satisfactory collateral. All loans, terms and conditions are subject to Credit Union qualifications & may vary based on creditworthiness. Restrictions may apply. Example: A loan amount of $75,000 with a rate as low as 5.75% for 84 months would have an approximate monthly payment of $1,087. Payment example does not include homeowner insurance, property taxes, private mortgage insurance, or homeowner association dues. Homeowner insurance required. APR = Annual Percentage Rate
| ||
| Rates as Low as | APR as Low as | Points | Payment Example |
|---|---|---|---|
5/5 ARM - 30 Year | |||
| 5.375% | 6.455% | 1.000pts | $1,120.00 |
| 5.625% | 6.505% | 0.500pts | $1,151.00 |
| 5.875% | 6.557% | 0.000pts | $1,183.00 |
7/1 ARM - 30 Year | |||
| 5.500% | 6.402% | 1.000pts | $1,136.00 |
| 5.750% | 6.482% | 0.500pts | $1,167.00 |
| 6.000% | 6.562% | 0.000pts | $1,199.00 |
All payment examples are based on a sample purchase transaction of $250,000 with 20% down and a FICO score of 780 or greater for a single family residence. Payment example does not include homeowner insurance, property taxes, private mortgage insurance, or homeowners association dues. Actual payments may vary based on amount, term, APR, taxes and insurance and other factors. Homeowner insurance required. All loans terms and conditions are subject to Credit Union qualifications and approval. Some restrictions may apply. ^Representative examples of payments after first adjustment. | |||
| Rate | APR | Points | Payment Example |
|---|---|---|---|
15 Year Fixed | |||
| 6.250% | 6.503% | 0.750pts | $1,715.00 |
| 6.375% | 6.569% | 0.375pts | $1,729.00 |
| 6.500% | 6.635% | 0.000pts | $1,742.00 |
30 Year Fixed | |||
| 6.625% | 6.781% | 0.750pts | $1,281.00 |
| 6.750% | 6.870% | 0.375pts | $1,297.00 |
| 6.875% | 6.959% | 0.000pts | $1,341.00 |
All payment examples are based on a sample purchase transaction of $250,000 with 20% down and a FICO score of 780 or greater for a single family residence. Payment example does not include homeowner insurance, property taxes, private mortgage insurance, or homeowners association dues. Actual payments may vary based on amount, term, APR, taxes and insurance and other factors. Homeowner insurance required. All loans terms and conditions are subject to Credit Union qualifications and approval. Some restrictions may apply. ^Representative examples of payments after first adjustment. | |||
| Loan Type | APR As Low As | Term | Minimum or Maximum | Note |
|---|---|---|---|---|
| Personal Loan | 10.50% | up to 36 Months | $30,000 Max | Fixed Rate |
| Personal Line of Credit | 11.50% | up to 48 Months | $30,000 Max | Fixed Rate |
| Personal Loan | 12.50% | up to 60 Months | $30,000 Max | Fixed Rate |
| Personal Line of Credit | 13.24% | N/A | $20,000 Max | Variable Rate |
Example: A loan amount of $7,500 with a rate as low as 10.50% for 36 months would have an approximate monthly payment of $244.00 APR = Annual Percentage Rate All loans, terms and conditions are subject to Credit Union qualifications & may vary based on creditworthiness.
| ||||
| Loan Type | Fixed APR As Low As | Credit Limit |
|---|---|---|
| VISA Platinum | 7.99% | $30,000.00 |
| Share Secured VISA | 6.00% | $30,000.00 |
APR = Annual Percentage Rate All loans, terms and conditions are subject to Credit Union qualifications & may vary based on creditworthiness. | ||
Are you ready to join LOC?
It’s easy to become a member of LOC Credit Union!
Membership is open to anyone who lives, works, worships, or attends school in the state of Michigan.
A current or eligible member's immediate family (spouse, sibling, child, grandchild, parent, grandparent) or an individual living in the same household of a current or eligible member can also join LOC.
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