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Loan Rates

 

At Merck Employees Federal Credit Union, we have always made it our goal to provide the best rates to our members. We are committed to keeping your best interest as our only interest!

Note: All rates shown are the credit union’s lowest rates. Individual rates are based on credit worthiness and other factors. If you are interested in finding your actual rate, please submit a loan application.

Home Equity Line of Credit

Rates shown are the as low as rates. Quoted rates upon approval may vary. 

LOAN AMOUNT LOAN-TO-VALUE ANNUAL PERCENTAGE RATE
$10,000 – $100,000 ≤80%     6.25%*
$100,001-$200,000 ≤70%     6.25%*

*This is a variable rate revolving line of credit with a 10-year draw and a maximum 15-year payback. The rate adjusts according to the prime rate as set forth in the Wall Street Journal. Click here to see the current Prime Rate. Fees apply where full appraisals are required.

‡Loan and credit card rates are the lowest rates for qualified applicants, based on creditworthiness. Other restrictions may apply based on underwriting criteria.

Fixed Rate 2nd Mortgage

Rates shown are the as low as rates. Quoted rates upon approval may vary.  

TERM LOAN AMOUNT ANNUAL PERCENTAGE RATE
5 years (60 months) $10,000 – $50,000 5.00%
7 years (84 months) $25,000 – $50,000 5.25%

**Fees apply where full appraisals are required.

‡Loan and credit card rates are the lowest rates for qualified applicants, based on creditworthiness. Other restrictions may apply based on underwriting criteria.

Vehicle Loan Rates

Rates shown are the as low as rates. Quoted rates upon approval may vary. 

Term ANNUAL PERCENTAGE RATE
24 months     3.75%
36 months     3.75%
48 months     4.00%
60 months     4.25%
72 months     4.50%
84 months     4.75%

‡Loan and credit card rates are the lowest rates for qualified applicants, based on creditworthiness. Other restrictions may apply based on underwriting criteria.

Unsecured (Personal) Loans

Rates shown are the as low as rates. Quoted rates upon approval may vary. 

TERM ANNUAL PERCENTAGE RATE
12 months 9.75% APR
36 months 10.00% APR
48 months 10.25% APR
60 months 10.50% APR

‡Loan and credit card rates are the lowest rates for qualified applicants, based on creditworthiness. Other restrictions may apply based on underwriting criteria.

Share (Savings) Secured Loans

Rates shown are the as low as rates. Quoted rates upon approval may vary. 

TERM ANNUAL PERCENTAGE RATE
Up to 72 months 3.50% APR

*This is a variable rate loan with the rate set at the current MEFCU share rate plus 2.00%.

‡Loan and credit card rates are the lowest rates for qualified applicants, based on creditworthiness. Other restrictions may apply based on underwriting criteria.

Visa

Rates shown are the as low as rates. Quoted rates upon approval may vary. 

*This is a variable rate credit card. The rate adjusts according to the prime rate as set forth in the Wall Street Journal. Click here to see the current Prime Rate.

ANNUAL PERCENTAGE RATE
12.50% APR

‡Loan and credit card rates are the lowest rates for qualified applicants, based on creditworthiness. Other restrictions may apply based on underwriting criteria.