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Loans for any reason

Borrowing from a credit union is a good idea. Since credit unions are not-for-profit, you'll usually get lower rates, lower fees (or no fees!) and service customized to the needs of that credit union's members.

At MIT Federal Credit Union we provide for your financial needs:

  • To buy a car
  • To buy a house
  • Extra cash for an unexpected or unplanned expense

We’re your source for money when you need it.

With our simple online application, there's no need to visit a branch. Good thing, because our members live across the U.S. and around the globe. You can close your loan online, too. And funding can be directly to your account, or we can get send funding for an auto loan or home purchase wherever it's needed.

Benefits of borrowing from MIT FCU:

  • Competitive low rates
  • Various terms and options
  • Easy application, quick approval process
  • Flexible and convenient payment options
  • No processing fees for most loan types

Loan Rates

Unsecured Loans
Effective Date: Saturday, February 27th, 2021
TermAPR*Smart Money Rewards**Payment/$1000
Tuition Assistance Loan
12 Months 6.75% 6.50% Balloon Payment
Overdraft Protection Line of Credit****
Line of Credit 15.00% 14.75% Variable
Fuel Assistance Loan
12 Months 6.50% 6.50% $86.52
Personal Loan + Co-Application/Guarantor Loan
12 Months 6.24% 5.99% $86.17
24 Months 7.24% 6.99% $45.83
36 Months 8.24% 7.99% $31.39
48 Months 9.24% 8.99% $24.93
60 Months 10.24% 9.99% $21.29

Auto Loans
Effective Date: Saturday, February 27th, 2021
TermAPR*Smart Money Rewards**Payment/$1000
New & Used Auto
Up to 5 Years 2.50% 2.25% $17.67
New Auto
61-84 Months 3.00% 2.75% $13.10
Used Auto
61-72 Months 3.00% 2.75% $15.09

Other Vehicle Loans
Effective Date: Saturday, February 27th, 2021
TermAPR*Smart Money Rewards**Payment/$1000
New Motorcycles
Up to 7 Years 5.25% 5.00% $14.14
Used Motorcycles
Up to 6 Years 5.25% 5.00% $16.11
New or Used Boats
Up to 10 Years 5.25% 5.00% $10.75
New or Used RV
Up to 10 Years 5.25% 5.00% $10.75
New or Used Utility Trailer
Up to 5 Years 5.25% 5.00% $19.01

Secured Loans
Effective Date: Saturday, February 27th, 2021
TermAPR*Smart Money Rewards**Payment/$1000
Share Secured (Frozen Share)
Up to 5 Years 5.25% 5.00% $19.01
Share Certificate Secured (Frozen Share)
Up to 5 Years Certificate + 3.00% Certificate + 2.75% Variable
Credit Builder Loan
Up to 12 Months 5.25% N/A $85.73

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