Total Protection Guarantee

We safeguard your funds, your privacy and your transactions.

Your Privacy and Security

MECU is completely dedicated to protecting two very important things: your privacy and your security.

Rates

Rates current as of April 14, 2014, and subject to change without notice.

Checking

Account TypeMinimum To Earn APYCompound FrequencyAPYBank Average APY
Checking$2,000monthly

0.05%

0.06%

APY -- Annual Percentage Yield (the yield you earn on a deposit over a year)

Checking account dividend rates are based on the credit union’s earnings at the end of the dividend period, and thus cannot be declared in advance.

Bank average APYs provided by Datatrac, an unbiased research firm that monitors interests rates from over 20,000 financial institutions nationwide.

Savings

Account TypeMinimum To Earn APYCompound FrequencyAPYBank Average APY
Savings$100monthly

0.10%

0.10%
Money Market$1
$25,000
$100,000
monthly

0.09%
0.15%
0.22%

0.09%
0.16%
0.22%
IRA Market$1
$25,000
$100,000
monthly

0.09%
0.15%
0.22%

0.22%
*
*

Health Savings Account$1
$25,000
$100,000
monthly

0.09%
0.15%
0.22%

*
*
*

Holiday Savingsnonemonthly

0.10%

*
Vacation Savingsnonemonthly

0.10%

*

APY -- Annual Percentage Yield (the yield you earn on a deposit over a year).

* No bank averages are shown for these products/tiers because this offering is not commonly available at other financial institutions. Bank average APYs provided by Datatrac, an unbiased research firm that monitors rates from over 20,000 financial institutions nationwide.

Savings insured up to $250,000, and Individual Retirement Accounts are separately insured to $250,000, by the National Credit Union Administration, a U.S. government agency. An additional $250,000 of coverage is provided by Excess Share Insurance. Federal regulations prohibit the payment of dividends in excess of available earnings. All dividends are calculated using the average daily balance method, compounded monthly and paid monthly. Any deposits or withdrawals will affect the actual APY earned. Fees may reduce earnings. These are variable rate accounts; rates are subject to change without notice.

Savings account dividend rates are based on the credit union’s earnings at the end of the dividend period, and thus cannot be declared in advance. Vacation and holiday savings withdrawals are limited to program parameters.

Money market accounts have a withdrawal minimum of $500. On all MECU money market accounts, you are permitted to make up to six preauthorized, automatic, telephonic, audio response or Internet transfers to another of your accounts, or to the account of any other person or organization, during the calendar month. If you exceed these limitations, your account may be subject to a fee or be closed. In addition, a $10.00 fee may be assessed for each withdrawal in excess of six per calendar month, regardless of type. These withdrawals include preauthorized, automatic, telephonic, audio response, Internet transfers, transfers from your account to pay a loan with us, withdrawals by check made directly to you, in person withdrawals, withdrawals by mail or withdrawals made by ATM. Monthly minimum balance fee of $10 is assessed on account balances less than $2,500. Fees may reduce earnings. These are variable rate accounts; rates are subject to change without notice.

Certificates

Our certificates include traditional and Roth IRAs, Coverdell Education Savings Accounts, and Health Savings Accounts.

Account TypeMinimum to Earn APYCompound FrequencyAPYBank Average APY
6 months$1,000monthly

0.19%

0.18%
12 months$1,000monthly

0.30%

0.29%
18 months$1,000monthly

0.36%

0.35%
30 months$1,000monthly

0.50%

0.49%
60 months$1,000monthly

1.03%

1.02%
Super Jumbo 6 months$250,000monthly

0.20%

*
Super Jumbo 12 months$250,000monthly

0.31%

*
Super Jumbo 18 months$250,000monthly

0.37%

*
Super Jumbo 30 months$250,000monthly

0.51%

*
Super Jumbo 60 months$250,000monthly

1.04%

*

APY -- Annual Percentage Yield (the yield you earn on a deposit over a year)

Early withdrawal penalties may apply, and fees may reduce earnings. Education IRAs require no minimum and are not available for a 6-month term.

Bank average APYs provided by Datatrac, an unbiased research firm that monitors interests rates from over 20,000 financial institutions nationwide.

* No bank average is shown for this product/tier because it is not commonly available at other financial institutions.

Credit Cards

Credit CardAPR
Visa Platinum Cash Back

Intro 0% for six months
After that, variable 10.24% - 19.24%, based on creditworthiness*

Visa Platinum Rewards

Intro 0% for six months
After that, fixed 11.90% - 20.90%, based on creditworthiness*

Visa Platinum

Intro 0% for six months
After that, fixed 9.90% - 18.90%, based on creditworthiness*

* Please read the Visa card application and solicitation disclosure. Introductory APR not available for cash advances or for existing MECU Visa cardholders. All loans subject to credit approval. Your actual APR will be based on your credit qualifications.

Home Equity Lines and Loans

Loan TypeAPR As Low As**Bank Average APR
Home Equity Loan

4.99%

5.36%
Variable Rate Home Equity Line of Credit

3.25%

4.46%
Interest-Only Home Equity Line of Credit

3.25%

*

** Annual Percentage Rate (APR) is based on excellent credit history, and reflects a .50% discount for Express Advantage members (those with MECU checking and direct deposit) who make automatic loan payments from an MECU savings or checking account.

* No bank averages are shown for these products/tiers due to the fact that this offering is not commonly available at other financial institutions. Bank average APRs provided by Datatrac, an unbiased research firm that monitors rates from over 20,000 financial institutions nationwide.

Home Equity Loan Disclosure

A fixed Annual Percentage Rate (APR) loan. Qualified properties include owner-occupied single-family homes, condominiums, town homes, and one to four unit multiple owner-occupied dwellings in Arizona, California, Florida, Georgia, Illinois, Massachusetts, New Hampshire, New York, Pennsylvania, Texas and Wisconsin. Qualified members can borrow up to 90% of the current market value of their home (less any outstanding liens). In Texas, the limit is 80% loan to value. Texas residents: You may borrow up to 80% of your home’s property value, less any outstanding first mortgage balance. State laws may affect final terms. The costs for originating your loan, excluding any intangible/mortgage tax, are waived at closing. If residing in FL, GA or NY, the intangible/mortgage tax (ranging from $10 to $5,000 depending on state and amount of loan) must be paid by borrower at closing or can be included in your loan. If the loan is repaid within 12 months of opening, the closing costs waived must be reimbursed, typically $350 to $2,000. Repayment example: A $50,000 loan with a 60-month term and a 4.99% APR is $943.88 per month. The credit union makes loans without regard to race, color, religion, national origin, sex, handicap, or familial status.

Home Equity Lines of Credit Disclosure

A variable Annual Percentage Rate (APR) applies to this loan. It adjusts quarterly based on the Prime Rate as published in The Wall Street Journal 45 days prior to the rate change date. Qualified properties include owner-occupied single-family homes, condominiums, town homes, and one to four unit owner-occupied dwellings in Arizona, California, Florida, Georgia, Illinois, Massachusetts, New Hampshire, New York, Pennsylvania, Texas and Wisconsin. Qualified members can borrow up to 90% of the current market value of their home (less any outstanding liens). Texas residents: You may borrow up to 80% of your home’s property value, less any outstanding first mortgage balance, not to exceed 50% of your home’s value. State laws may affect final terms. Minimum initial advance is $5,000 and subsequent advances must be $500 or more, except for TX, which is $4,000 for both the initial and subsequent advances. The costs for originating your loan, excluding any intangible/mortgage tax, are waived at closing. If residing in FL, GA or NY, the intangible/mortgage tax (ranging from $10 to $5,000, depending on state and amount of HELOC limit) must be paid by borrower at closing or can be included in your initial advance. If the HELOC is closed within 12 months of opening, the closing costs waived must be reimbursed, typically $350 to $2,000. Maximum APR is 18%. The credit union makes loans without regard to race, color, religion, national origin, sex, handicap, or familial status.

Interest Only Home Equity Lines of Credit

ALL TERMS AND CONDITIONS FOR HOME EQUITY LINE OF CREDIT (SEE ABOVE) APPLY. Additionally, interest only home equity lines of credit loan provides for “interest only” payments during a portion of the term of the loan. These payments only cover the interest accrued on the loan during the month. Interest only payments do not reduce the principal balance even though you are making the minimum payment due.

Mortgages

Call 847.576.5199, Option 3, 1 for more information. Or visit our mortgage Web site to see all of our current rates and mortgage options, pre-qualify for a loan, apply instantly online, or check out our tools to help you find the home loan that fits your needs. All loans are subject to credit approval. Actual rate received is based on your credit qualifications and loan product.

Rates Change Daily

Click here to see current rates.

Personal Loans

Loan TypeAPR As Low As*
Share-Secured Personal Loan

1.50% above dividend (savings) rate

Certificate-Secured Personal Loan

1.50% above dividend (savings) rate

Unsecured Personal Loan

9.24%

* Annual Percentage Rate (APR) reflects a .50% discount for Express Advantage members (those with MECU checking and direct deposit) who make automatic loan payments from an MECU savings or checking account. Your actual rate will be based on credit qualifications and underwriting factors. All credit union loan programs, rates, terms and conditions are subject to change at any time without notice. All loans subject to credit approval. Repayment example: A $7,500 loan with a 60 month term and 9.24% APR is $156.62 per month.

Student Loans

Loan TypeAPR As Low As
Private Student Loans6.00%

APR = Annual Percentage Rate. This is a variable rate loan available to qualified borrowers. The APR will vary quarterly based on the One Month Libor as published in The Wall Street Journal. The borrower must be a U.S. citizen or legal resident. Loan terms up to 20 years. The minimum loan amount is $1,000 and the maximum cumulative loan amount (per membership account) is $40,000. Loan may not be used to consolidate other student loan debt. Loan proceeds may not exceed the total amount needed for expenses associated with attending school. These include, but are not limited to: tuition, books, school fees, room and board, transportation and supplies. Grants, scholarships and other student loans may reduce the amount you may be eligible for, regardless of creditworthiness and ability to repay. Borrower must submit acceptable proof of enrollment. Loan disbursement check or EFT will be sent directly to the educational institution. Repayment term begins within 45 days of the disbursement. Minimum payment amount is $50 per month, per loan. The maximum rate is 18%. Rates, terms and conditions are subject to change.

Vehicle Loans

Rates as low as displayed for new and used vehicles, motorcycles, RVs, and boats.

TermAPR As Low As**Bank Average APR
New Vehicle - up to 24 months

1.99%

*
New Vehicle - up to 36 months

1.99%

4.42%
New Vehicle - up to 48 months

1.99%

4.51%
New Vehicle - up to 60 months

2.24%

4.62%
New Vehicle - up to 72 months

2.49%

4.50%
Used Vehicle - up to 24 months

1.99%

*
Used Vehicle - up to 36 months

1.99%

4.94%
Used Vehicle - up to 48 months

1.99%

4.99%
Used Vehicle - up to 60 months

2.24%

4.79%
Used Vehicle - up to 72 months

2.49%

4.26%

** Annual Percentage Rate (APR) is based on excellent credit history, and reflects a .50% discount for Express Advantage members (those with MECU checking and direct deposit) who make automatic loan payments from an MECU checking or savings account. APR for new cars applies to 2013 or newer models with a loan to value up to 100%. APR for used cars applies to 2011-2012 models with a loan to value of less than 80%. The APR for used 2008-2010 models is as low as 2.99% APR (48 month term), and for used 2007 and older models is as low as 4.99% APR (48 month term). Your actual rate will be based on creditworthiness, vehicle model year, loan to value, term and Express Advantage status. Rates are subject to change without notice. National average APR may not reflect rate discounts offered by MECU. Payment example: A $20,000 loan with a 48-month term and 1.99% APR would have 47 payments at $434.18 and a final payment of $433.98.

* No bank average is shown because this offering is not commonly available at other financial institutions. Bank average APRs provided by Datatrac, an unbiased research firm that monitors rates from over 20,000 financial institutions nationwide.

APR -- Annual Percentage Rate (reflects your actual interest rate and any additional costs such as prepaid interest or closing costs)

APY -- Annual Percentage Yield (the yield you earn on a deposit over a year)



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