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Savings and Loan Rates

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Current Rates

Savings Accounts
Effective Date: Friday, October 22nd, 2021
Account TypeRateAPYDividends Paid
Regular Share 0.015% 0.015% Quarterly
Christmas Club Account 0.015% 0.015% Quarterly
Vacation Club Account 0.015% 0.015% 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.

Money Fund (Variable)
Effective Date: Friday, October 22nd, 2021
Minimum Deposit AmountRateAPYDividends Paid
$2,500-$9,999 0.025% 0.025% Monthly
$10,000-$49,999 0.025% 0.025% Monthly
Over $50,000 0.050% 0.050% 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.

Premier Money Fund (Variable)
Effective Date: Friday, October 22nd, 2021
Minimum Deposit AmountRateAPYDividends Paid
$25,000-$49,999 0.025% 0.025% Monthly
$50,000-$74,999 0.050% 0.050% Monthly
$75,000-$99,999 0.050% 0.050% Monthly
Over $100,000 0.050% 0.050% Monthly

APY = Annual Percentage Yield

To qualify for the Premier Money Fund, the same account number must have a checking account and VISA debit card. If conditions are not met, the premier money fund will revert to the regular money fund rate. The minimum opening deposit is $25,000 and must include at least $5,000 in new money (not previously on deposit at LOC).

 

Balances below $25,000 will earn the regular Money Fund rates for the days they are below the minimum. Dividends are calculated using the daily balance, paid and compounded monthly. $2500 minimum balance required to earn dividends. Dividend rate is subject to change at any time.

 

Certificate & IRA Rates
Effective Date: Friday, October 22nd, 2021
Minimum certificate deposit of $250 required.
Account TypeRateAPYDividends PaidPenalties
3 Month Cert / IRA 0.050% 0.050% At Maturity 90 days* 
6 Month Cert / IRA 0.100% 0.100% At Maturity 90 days* 
12 Month Cert / IRA 0.200% 0.200% Monthly 180 days* 
18 Month Cert / IRA 0.200% 0.200% Monthly 180 days* 
24 Month Cert / IRA 0.300% 0.300% Monthly 180 days* 
36 Month Cert / IRA 0.400% 0.400% Monthly 180 days* 
48 Month Cert / IRA 0.500% 0.500% Monthly 180 days* 
60 Month Cert / IRA 0.600% 0.600% Monthly 180 days* 
Variable IRA 0.015% 0.015% Quarterly  

APY = Annual Percentage Yield

No minimum variable IRA balance required to open. Variable IRA dividends are calculated using the daily balance, paid and compounded quarterly. Variable IRA dividend rate is subject to change at any time.

* Penalty for early withdrawal of funds may apply on Certificate products.

Auto Loan
Effective Date: Friday, October 22nd, 2021
YearFixed APR As Low AsTermLoan TypeMinimum or Maximum
2015-2021 1.39% up to 60 Months New & Used Auto  
2015-2021 1.89% up to 72 Months New & Used Auto $15,000 Min
2015-2021 2.64% up to 84 Months New & Used Auto $35,000 Min
2014 & Older 3.64% up to 48 Months Used Auto  
2014 & Older 3.64% Up to 60 Months Used Auto $15,000 Min

Example: A loan amount of $25,000 with a rate as low as 1.39% for 60 months would have an approximate monthly payment of $431.91

APR = Annual Percentage Rate

Subject to approval. Approval and actual rate and term offered is based on overall creditworthiness factors and satisfactory collateral. 

Rates quoted are for loans up to 100% loan-to-value (LTV).  LTV's up to 115% are available. Contact us for more information. Restrictions apply.  

Boat & Large RV Loan
Effective Date: Friday, October 22nd, 2021
Boat, Motor Home, Travel Trailer, & Horse Travel Trailer (with self-contained living quarters)
Loan TypeAgeMinimum or MaximumFixed APR As Low AsTerm
Boat or RV 2017-2022 $10,000 Min/$50,000 Max 2.89% Up to 60 Months
New/Used Boat or RV 2017-2022 $10,000 Min/ $50,000 Max 2.89% Up to 84 Months
New/Used Boat or RV 2017-2022 $20,000 Min/ $50,000 Max 3.49% Up to 120 Months
New/Used Boat or RV 2017-2022 $25,000 Min 4.74% Up to 144 months
New/Used Boat or RV 2017-2022 $35,000 Min 4.99% Up to 180 months
Used Boat or RV 2012-2016   4.74% Up to 60 Months
Used Boat or RV 2012-2016 $10,000 Min 4.74% Up to 84 Months
Used Boat or RV 2012-2016 $20,000 Min 4.99% Up to 120 months
Used Boat or RV 2012-2016 $25,000 Min 5.24% Up to 144 months
Used Boat or RV 2012-2016 $35,000 Min 5.49% Up to 180 months
Used Boat or RV 2011 & Older   6.49% Up to 60 Months
Used Boat or RV 2011 & Older $10,000 Min 6.49% Up to 84 Months
Used Boat or RV 2011 & Older $20,000 Min 6.99% Up to 120 months
Used Boat or RV 2011 & Older $25,000 Min 6.99% Up to 144 months
Used Boat or RV 2011 & Older $35,000 Min 7.24% Up to 180 months

Example: A loan amount of $50,000 with a rate as low as 2.89% for 60 months would have an approximate monthly payment of $896.57. 

APR = Annual Percentage Rate

Subject to approval.  Approval and actual rate and term offered is based on overall creditworthiness factors and satisfactory collateral.

Power Sport & Small RV
Effective Date: Friday, October 22nd, 2021
Motorcycle<700cc, ATV, Golf Cart, Jet Ski, Mower, Snowmobile, Tractor, Utility Trailer
Loan TypeAmount FinancedFixed APR As Low AsTerm
New / Used   4.49% Up to 36 Months
New / Used   4.99% Up to 48 Months
New / Used   5.99% Up to 60 Months
New / Used $25,000 Min. Loan Amount 6.49% Up to 120 Months

Example: A loan amount of $7,500 with a rate as low as 5.24% for 60 months would have an approximate monthly payment of $142.36. 

APR = Annual Percentage Rate

Subject to approval.  Approval and actual rate and term offered is based on overall creditworthiness factors and satisfactory collateral.

Home Equity Line of Credit
Effective Date: Friday, October 22nd, 2021
10 Year Draw - 15 Year Repayment
Adjustable APR As Low AsLTV RequirementsMinimum or Maximum
1.99%* 60% CLTV or 80% LTV First Lien $5,000 Min/$250,000 Max
1.99%* 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 12 billing cycles 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 agreement.

Rates are not risk-based; all members will get the same low rate based on loan to value of their home.

Home Equity Loans
Effective Date: Friday, October 22nd, 2021
TermRates as low asMaximum LTVLien Position
Up to 7 Years 2.65% 80% 1st
Up to 7 Years 3.24% 80% 2nd
10 Years 3.74% 80% 1st
10 Years 4.24% 80% 2nd
15 Years 3.99% 80% 1st
15 Years 4.49% 80% 2nd
20 Years 4.24% 80% 1st
20 Years 4.74% 80% 2nd

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.

Minimum amount to borrow is $5,000; maximum amount is $300,000.

Approval is based on overall creditworthiness factors and satisfactory collateral.

Example: A loan amount of $75,000 with a rate as low as 2.99% for 60 months would have an approximate monthly payment of $1,350.01

APR = Annual Percentage Rate

 

Mortgage
Effective Date: Friday, October 22nd, 2021
For current mortgage rates, click here

Personal Loans/Lines of Credit
Effective Date: Friday, October 22nd, 2021
Loan TypeAPR As Low AsTermMinimum or MaximumNote
Personal Loan 6.99% up to 36 Months $25,000 Max Fixed Rate
Personal Loan 7.99% up to 60 Months $5,000 Min / $25,000 Max Fixed Rate
Personal Loan 8.99% up to 72 Months $10,000 Min / $25,000 Max Fixed Rate
Personal Line of Credit 11.90% N/A $20,000 Max Variable Rate

 Example: A loan amount of $7,500 with a rate as low as 6.99% for 36 months would have an approximate monthly payment of $232.30. 

APR = Annual Percentage Rate

Rate and term may vary based on credit score.

VISA Rates
Effective Date: Friday, October 22nd, 2021
See our full VISA Platinum Disclosure.
Loan TypeFixed APR As Low AsCredit Limit
VISA Platinum 9.90% $10,000.00
Share Secured VISA 6.00% $10,000.00

APR = Annual Percentage Rate

Rate and term may vary based on credit score.

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