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
Term | APR* | 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
Term | APR* | 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
Term | APR* | 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
Term | APR* | 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 |