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Loans | Savings | Certificates
Midland Credit Union uses a "customized" lending program for vehicle, signature, and other secured loans. Your "customized" rate is determined by your credit bureau history (the better your credit, the better your rate) and down payment/value of collateral. You may earn additional rate discounts based on utilization of other credit union services. Check with a loan officer to determine your own "customized" rate.
The rates below represent the lowest rates available. Rates are effective as of 8/20/2008 and are subject to change daily. Rates listed below are base rates. See home page for special promotional rates. |
| Loans |
Rate |
APR* |
Term |
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| New Vehicle -- as low as |
4.90 |
4.90 |
n/a |
Calculator |
| Used Vehicle -- as low as |
5.35 |
5.35 |
n/a |
Calculator |
| Other Secured -- as low as |
8.50 |
8.50 |
n/a |
Calculator |
| Signature/Personal -- as low as |
10.25 |
10.25 |
n/a |
Calculator |
| Share Secured (certificate) -- rate paid on dividends plus 3% |
4.25 |
4.25 |
n/a |
Calculator |
| 1ST Mortgages (IA Only) 15 year Fixed ** |
5.75 |
5.75 |
n/a |
Calculator |
| 1ST Mortgages (IA Only) 5 year balloon, 30 year amortized, fixed rate** |
5.50 |
5.50 |
n/a |
Calculator |
| Home Equity 2nd mortgage (IA Only) 5 year ballon, 20 year amortization, fixed rate*** |
6.250 |
6.250 |
n/a |
Calculator |
| ***Rates on 5 year 2nd mortgage balloon may be amortized up to 20 years with a |
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| fixed rate for 5 years and a balloon after each 5 year period. Maximum loan to |
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| value 85%. Pay just $7.31 per month for every $1,000 borrowed. |
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*Annual Percentage Rate
**Rates on 5 year 1st mortgage balloon loans may be amortized up to 30 years with a rate fixed for 5 years and a balloon after each 5 year period. Pay just $5.69 per month for every $1000 borrowed. At that time the rate may be adjusted and mortgage may be rewritten. 15 Year fixed 1st mortgage pay just $8.32 per month for $1000.
Please contact the loan department at 515-645-9334 for additional information.
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| Dividends are compounded and paid monthly, based upon your average daily balance. Fees could reduce the earnings on the account. No minimum balances are required to avoid a service fee. To earn the stated APY basic shares need average daily balance of $100.00 or more and share draft/checking needs average daily balance of $500.00 or more. Rates are effective as of 10/22/2008 and are subject to change at any time. |
| Savings |
Minimum Balance |
Min. Opening Deposit |
Dividend Rate |
APY* |
Term |
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Basic Share, Children's Share, Holiday Share, Savings Bond Shares
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$100 - 4,999.99 |
$25.00 |
0.50 |
0.50 |
n/a |
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Basic Share, Children's Share, Holiday Share, Savings Bond Shares
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$5000 - 9,999.99 |
$25.00 |
0.65 |
0.65 |
n/a |
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Basic Share, Children's Share, Holiday Share, Savings Bond Shares
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$10,000 - over |
$25.00 |
0.75 |
0.75 |
n/a |
| IRA Share |
$0 |
$0 |
1.50 |
1.51 |
n/a |
| Share Draft/Checking |
$500.00 |
$0 |
0.250 |
0.250 |
n/a |
| Certificate rates are for both Share Certificates and IRA Certificates. Dividends are compounded and paid last calendar day of month and on maturity. We may impose a penalty if you withdraw any of the principal before the maturity date. Minimum opening deposit is $500.00 for regular certificates. IRA Certificates are a minimum opening deposit of $1000.00. Rates are effective as of 10/22/2008 and are subject to change daily. The Dividend Rate and Annual Percentage Yield are fixed and will be in effect for the term of the account. |
| Certificates |
Minimum Balance |
Dividend Rate |
APY* |
Term |
| 6-month |
$500.00 |
3.00 |
3.04 |
6 |
| 12-month |
$500.00 |
3.00 |
3.04 |
12 |
| 18-month |
$500.00 |
3.15 |
3.20 |
18 |
| 24-month |
$500.00 |
3.20 |
3.25 |
24 |
| 36-month |
$500.00 |
3.44 |
3.50 |
36 |
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*Annual Percentage Yield
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A member may make up to six (6) free withdrawals a month from their Money Market account. If six (6) withdrawals are exceeded a fee will apply to each transaction over six (6), refer to current Rate and Fee Schedule for further information. No more than six (6) preauthorized, automatic or telephone transfers may be made from this account to another account of yours or to a third party in any month, and no more than three (3) of these six (6) can be made to a 3rd party. Minimum balance required of $10,000 to earn dividend.
| Money Market Share Account |
Rate |
APY* |
| 10000-24999 |
1.80 |
1.81 |
| 25000-49999 |
2.10 |
2.12 |
| 50000+ |
2.30 |
2.32 |
Minimum balance of $10000 to earn dividend. Six (6) free withdrawals per month.
*Annual Percentage Yield
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