Loan Rates

Effective Date: 08/18/2023

Consumer Loan Rates

East River Federal Credit Union offers a tiered pricing program. This allows as many members as possible to obtain financing. A member’s individual rate will be determined by the type of collateral offered, the term of the loan, and the member’s credit history with the credit union and other financial institutions. Rates are subject to change. APR = Annual Percentage Rate. We welcome your application.

Automobiles
  (750+)
Premier
APR*		 (749-700)
4 Star
APR*		 (699-650)
3 Star
APR*		 (649-600)
2 Star
APR*		 (599<)
1 Star
APR*
Automobiles* (2023 and newer)
1 - 36 months 5.90% 6.40% 7.40% 12.40% 15.40%
37 - 60 months 6.15% 6.65% 7.65% 12.65% 15.65%
61 - 72 months 6.40% 6.90% 7.90% 12.90% 15.90%
73 - 84 months  6.65% 7.15% 8.15% 13.15% 16.15%
Automobiles* (2022-2020)
1 - 36 months 5.90% 6.40% 7.40% 12.40% 15.40%
37 - 60 months 6.15% 6.65% 7.65% 12.65% 15.65%
61 - 72 months 6.40% 6.90% 7.90% 12.90% 15.90%
73 - 84 months 6.65% 7.15% 8.15% 13.15% 16.15%
Automobiles* (2019-2017)
1 - 36 months 6.90% 7.40% 8.40% 13.40% 16.40%
37 - 60 months 7.15% 7.65% 8.65% 13.65% 16.65%
Automobiles* (2016-2014)
1 - 36 months 6.90% 7.40% 8.40% 13.40% 16.40%
37 - 60 months 7.15% 7.65% 8.65% 13.65% 16.65%
Automobiles* (2013 & Older)
80% Loan to Value
1 - 36 months 7.65% 8.15% 8.90% 13.90% 16.90%
Recreational Collateral
  (750+)
Premier
APR*		 (749-700)
4 Star
APR*		 (699-650)
3 Star
APR*		 (649-600)
2 Star
APR*		 (599<)
1 Star
APR*
Motorcycles, ATV's, Snowmobiles, Boats, Personal Watercraft, Campers, Motor Homes, Travel Trailers and 5th Wheels* (2014 & Newer)
1 - 36 months 6.80% 7.30% 8.30% 13.30% 16.30%
37 - 60 months 7.05% 7.55% 8.55% 13.55% 16.55%
61 - 72 months 7.30% 7.80% 8.80% 13.80% 16.80%
73 - 96 months
($20,000-$29,999)		 8.90% 9.40% N/A N/A N/A
97 - 120 months
($30,000+)		 9.90% 10.40% N/A N/A N/A
Motorcycles, ATV's, Snowmobiles, Boats, Personal Watercraft, Campers, Motor Homes, Travel Trailers and 5th Wheels* (2013 & Older)
1 - 36 months 7.30% 7.80% 8.80% 13.80% 16.80%
37 - 60 months 8.10% 8.60% 9.60% 14.60% 17.60%

* 80% Loan to Value on all collateral for 2 & 1 Star members. 80% Loan to Value and a maximum term of 36 months on collateral with 120,000 miles or more. Add 1.00% to the Annual Percentage Rate for loans with a payment frequency longer than once a month. Add 1.00% to the Annual Percentage Rate for collateral classified as "classic".

Pro Discount: Discount of 0.25 basis points off the rate if have 2 of the following 3 coverage products on the loan: Guaranteed Asset Protection (GAP), Mechanical Breakdown Protection (MBP), Credit Disability Insurance AND must enroll in automatic payments. Must enroll in 2 separate products to qualify for the rate reduction, i.e. a joint loan where both members take our credit disability DOES NOT qualify. In the event any of the coverage or automatic payment is cancelled, the rate will increase to the normal rate. Only available on loans that can be covered with GAP or MBP products.
Personal/Holiday Loans
  (750+)
Premier
APR*		 (749-700)
4 Star
APR*		 (699-650)
3 Star
APR*		 (649-600)
2 Star
APR*		 (599<)
1 Star
APR*
1 - 24 months 9.40% 9.90% 10.90% 15.90% 18.00%
25 - 36 months 10.40% 10.90% 11.90% 16.90% N/A
37 - 48 months 11.40% 11.90% N/A N/A N/A
49 - 60 months 12.40% N/A N/A N/A N/A
Ready Credit
  (750+)
Premier
APR*		 (749-700)
4 Star
APR*		 (699-650)
3 Star
APR*		 (649-600)
2 Star
APR*		 (599<)
1 Star
APR*
Automatic payment from the checking account each month on the 28th
  16.00% 16.00% 16.00% 18.00% 18.00%
Credit Builder
  (750+)
Premier
APR*		 (749-700)
4 Star
APR*		 (699-650)
3 Star
APR*		 (649-600)
2 Star
APR*		 (599<)
1 Star
APR*
Funds will be deposited into the membership account and remain there until the loan is paid in full
12 - 24 months 6.00% 6.00% 6.00% 6.00% 6.00%
Savings & Certificate Secured
Does not include HSA, club accounts, money market, or checking accounts - Certificate maturity date to match loan term
Certificate Secured 2.0% above the certificate rate that is being used as security
Savings Secured 3.0% - maximum term of 60 months

 

Mortgage Loan Rates

East River Federal Credit Union offers a tiered pricing program. This allows as many members as possible to obtain financing. A member’s individual rate will be determined by the type of collateral offered, the term of the loan, and the member’s credit history with the credit union and other financial institutions. Rates are subject to change. APR = Annual Percentage Rate. We welcome your application.

Home Equity Line of Credit (HELOC)*
LTV (750+)
Premier
APR*		 (749-700)
4 Star
APR*		 (699-650)
3 Star
APR*		 (649-600)
2 Star
APR*
5 year Draw - 10 year Repayment - Variable Rate - Rate may Change Quarterly
up to 80% 8.50% 8.50% 8.50% N/A
81%-90% 8.50% 8.50% N/A N/A
1st Mortgage*
LTV (750+)
Premier
APR*		 (749-700)
4 Star
APR*		 (699-650)
3 Star
APR*		 (649-600)
2 Star
APR*
6 year Balloon - 30 year Amortization - Fixed Rate
up to 80% 7.90% 7.90% 8.90% N/A
81%-90% 8.90% 8.90% N/A N/A
2nd Mortgage*
LTV (750+)
Premier
APR*		 (749-700)
4 Star
APR*		 (699-650)
3 Star
APR*		 (649-600)
2 Star
APR*
6 year Balloon - 15 year Amortization - Fixed Rate
up to 80% 7.90% 7.90% 8.90% N/A
81%-90% 8.90% 8.90% N/A N/A
Home Equity*
LTV (750+)
Premier
APR*		 (749-700)
4 Star
APR*		 (699-650)
3 Star
APR*		 (649-600)
2 Star
APR*
6 year Balloon - 15 year Amortization - Fixed Rate
up to 80% 7.90% 7.90% 8.90% N/A
81%-90% 8.90% 8.90% N/A N/A
Home Improvement*
LTV (750+)
Premier
APR*		 (749-700)
4 Star
APR*		 (699-650)
3 Star
APR*		 (649-600)
2 Star
APR*
6 year Balloon - 15 year Amortization - Fixed Rate - Future Value Appraisal
up to 80% 7.90% 7.90% 8.90% N/A
81%-90% 8.90% 8.90% N/A N/A
Construction*
LTV (750+)
Premier
APR*		 (749-700)
4 Star
APR*		 (699-650)
3 Star
APR*		 (649-600)
2 Star
APR*
12 Month Term - Fixed Rate - Future Value Appraisal
up to 80% 7.90% 7.90% 8.90% N/A
81%-90% 8.90% 8.90% N/A N/A

 

* Property insurance is required. Refer to the fee schedule for estimated fees.