Loan Rates

Deposit Rates | Loan Rates | Real Estate Rates

Unsecured Loans   Secured Loans   Visa Credit Cards

Effective July 1, 2010

Unsecured Loans^£

Secured Loans

Credit Cards

MITFCU Visa cards could be your spending partner of choice. You'll save big with a rate of just 8.99% APRºº for a Platinum card and 10.99% APRºº for a Classic card. Credit limits range from $500 to $15,000, cash advances and balance transfers have the same low APR as purchases, there is a 25 day interest-free grace period on new purchases, and there is NO annual or monthly fee.

An MITFCU Visa makes life easier with online access and payments, auto rental discounts, 90 day product protection on property purchased with your Visa, an online purchase security program, and fraud protection provided by a zero liability policy. Are you currently paying a higher interest rate? Transfer your balanceººº to your MITFCU Visa for free.

• Apply
• Balance Transfer
• Credit Limit Increase

* A $5 minimum balance must be maintained at all times in your Savings Account. To earn a dividend, a minimum balance of $100 is required. Money Market Accounts require a minimum daily balance of $1,000 to earn the stated APY. Select Checking Accounts require a minimum daily balance of $10,000 to earn the stated APY. For each of these account types, no dividends will be paid on days the balance falls below the required minimum. On Money Market Accounts, if the number of withdrawals or transfers exceeds three per month, a $25 charge will be assessed for each transaction above the allowed minimum.

** APY = Annual Percentage Yield. Share Certificate APY assumes that dividends are retained in the Share Certificate; there is a penalty for early withdrawal. Other terms and conditions apply. Rates are accurate as of July 1, 2010 and are subject to change without notice. Please consult a Member Service Representative for complete share information. The rate may change after account opening. Fees could reduce earnings on the account.

^† Smart Money Rewards: To qualify, each direct deposit you receive must exceed $100. If at any time MITFCU no longer receives your net pay, pension, or Social Security via direct deposit or if your Checking Account is closed or becomes inactive (zero transactions within a 90-day period), the rate on increased Share Certificates will be reduced 0.25% and the rate on discounted loans will be increased 0.25% and you will no longer receive any of the discounts associated with Smart Money Rewards. Maximum dividend rate increase and/or Annual Percentage Rate reduction is 0.50% in combination with other offers.

^£ Unsecured Loans: The maximum loan amount is $20,000 combined for all unsecured loans (excluding Visa credit cards).

^± APR = Annual Percentage Rate. Rates are accurate as of July 1, 2010.

^€ Cost per thousand borrowed uses Smart Money Rewards^† rates. Payment samples include the Credit Disability Premium. Some restrictions may apply for this coverage.

^‡ Balloon payment option available.

^» To sign up for free e-Statements, simply log in to your e-Branch account, click on the e-Statements tab, and read and accept the agreement. If you don't know your e-Branch password, call us at 617.253.2845.

^~ The cost per thousand examples provided include discounts for both Smart Money Rewards membership and e-Statements use.

^±± APR = Annual Percentage Rate. Rates are accurate as of July 1, 2010. The rates published above are for members with the best credit. The Smart Money Rewards^† rate on vehicle loans reflects a maximum 0.50% discount on published vehicle loan rates and requires Smart Money Rewards membership with the automatic payment method of repayment AND one of the following: (a) purchasing Guaranteed Asset Protection (GAP) coverage, (b) purchasing Credit Disability insurance, or (c) financing a hybrid vehicle. If you discontinue one of these products/services during the term of the loan, your discounted rate will no longer be valid and it will revert back to the prevailing rate at the time of the loan open date.

¹ Up to 100% financing of the purchase price (including sales tax and extended warranty) for members with a qualifying credit score who purchase a new vehicle. A new vehicle is defined as a current or previous year model with 8,000 miles or less. Up to 100% financing of the Kelley Blue Book value for members with a qualifying credit score who purchase a used vehicle. Members who do not qualify based on their credit score may only receive 90% financing or may be required to pay an additional 1.00% on their loan rate in order to receive 100% financing.

² Maximum loan amount is $80,000. Boats must be 14 feet or longer.

³ Secured by funds on deposit in an MITFCU Savings Account.

⁴ Secured by funds on deposit in an MITFCU Share Certificate Account. Balloon payment option available.

⁵ Available for loan amounts of $500-$1,000. The approved loan amount is placed in an MITFCU Savings Account, where it will earn interest. Funds cannot be withdrawn from the Savings Account until the loan is repaid in full. Another loan will not be granted until the Credit Builder Loan is repaid in full. All applicants must be in good standing with MITFCU and must have the capacity to repay the loan.

⁶ Secured by UCC Lien placed on primary residence.

∞ *APR = Annual Percentage Rate. The Annual Percentage Rate is subject to change on the statement cycle date of each quarter (January, April, July & October) to reflect any change in the Index and will be determined by the Prime Rate ten (10) days prior to the first day of the first month of the new quarter found in The Wall Street Journal “Money Rates” table plus 5.74% (Platinum) and 7.74% (Classic). Any increase in the annual percentage rate will take the form of additional payments shown as Total Minimum Payments on the statement. If the Index is no longer available, the credit union will choose a new index which is based upon comparable information.The APR will never be greater than 18%. 1% finance charge applies to all foreign transactions.Finance Charge: 1% for foreign transactions, which includes (a) any transactions converted to U.S. currency, and (b) any cross-border transactions, where the licensed Visa merchant and the issuer are located in different countries. Visa will also impose a 0.8% fee on foreign transactions where a currency conversion is not performed.

^¥ If you sign a separate pledge of shares, these pledged shares from your Savings account will secure your Visa account. You may not withdraw amounts that have been specifically pledged to secure your Visa account until the Credit Union agrees to release all or part of the pledged amount.

^ APR = Annual Percentage Rate. Rates are accurate as of July 1, 2010 and subject to change without notice. Offer of 5.99% APR for regular members and 5.74% APR for Smart Money Rewards members is valid on loans of new money only and may be withdrawn at any time. Payment example: A loan of $15,000 with a term of 180 months and an APR of 5.74% has an approximate monthly payment of $125.00. The maximum APR on Home Equity Loans is 18%. Rates and terms are subject to change. Real Estate Equity Lines of Credit are indexed to the Prime Rate published in the "Money" section of The Wall Street Journal. For monthly adjustable Home Equity Lines of Credit, the APR can change on the first day of each month and is established ten days prior to the first day of the month. For annually adjustable Home Equity Lines of Credit, the APR can change once per year on January 1, and the rate is established 30 days prior to this date. The maximum APR on Home Equity Lines of Credit is 18%. Example loan payment schedule: A $50,000 Home Equity Loan with an APR of 7.90% for 180 months has an approximate monthly payment of $474.21. Rates and terms are subject to change. The maximum loan amount is $175,000 and may be limited based on your available equity, income, outstanding debt, and creditworthiness. The minimum loan amount is $15,000. The Credit Union will hold up to second place in lien position. All property must meet applicable building codes and lot restrictions. Offer is nontransferable and available exclusively to owner-occupied single family residence properties or owner-occupied 1-4 unit dwellings located in MA, NH, VT, ME, CT, and RI. If your property is not currently insured or is underinsured, you will be required to purchase adequate coverage. Home Equity Loans and Lines currently financed with MITFCU are not eligible for this offer. Closing cost estimates are between $350 and $850. You will not incur closing costs if you borrow at least $15,000 and the Loan or Line of Credit is open for at least 24 months. Other terms and conditions apply. Please consult with a Member Service Representative for complete loan information.

ºººTransfers will not be issued in excess of your MITFCU credit limit. Transfers and balance payoffs will not automatically close out any other credit cards you may have. You must notify your original credit card company directly to request closure.