Loan Rates

Rates Last Updated: May 5, 2014

New or Used Vehicle – 2012 and Newer Signature Loans
Used Vehicle  – 2010-2011 Share Pledge Loans
Used Vehicle – 2006-2009 WEPCOline of Credit Loans
Used Vehicle – 2005 and Older In-House Mortgages
4-Wheelers and Motorcycles HELOC Mortgages  
Recreational Vehicles and Boats June Promo – Any Loan
Historic Autos  

 

Loan Type Term APR* As Low As Minimum

NEW OR USED VEHICLE LOANS**
APR* is listed as low as

2012 and Newer
All APR's* are listed as low as

 

 

 

 

 

 

 

 

 

 

 

 

 

 

73-84 Months** 3.24%  
61-72 Months** 2.49%  
49-60 Months** 1.74%  
0-48 Months 1.49%  
2010-2011 
 All APR's* are listed as low as

 

 

 

 

 

 

 

 

 

 

 

 

 

61-72 Months** 3.49%  
49-60 Months** 2.99%  
0-48 Months 2.24%  

2006-2009
All APR's* are listed as low as

 

49-60 Months** 3.99%  
0-48 Months 3.49%  

2005 or Older
APR* is listed as low as

0-48 Months 4.49%  
Historic Autos
20 Years and Older
APR* is listed as low as
Up to 84 Months** 5.24%     
**Minimum financing of $25,000 for 84 Mo
**Minimum financing of $15,000 for 72 Mo
**Minimum financing of $10,000 for 60 Mo

 
     

4-WHEELER LOANS AND MOTORCYCLES
APR* is listed as low as

For four wheeler loans, the Credit Union will require titling on all four wheelers.   For four wheeler loans financed in excess of $10,000, insurance will be required. 
Motorcycle loans require title and insurance.
Up to 60 Months 5.00% 100 % Financing
       

RECREATIONAL VEHICLE  AND BOAT LOANS
APR* is listed as low as

Boat, Motor or Mobile Homes, Lawn & Farm Equipment.
All APR's* are listed as low as
Call for Term – Depending on type of vehicle purchased. 10% Down Payment Required. 5.24% 90% Financing
Call for Term – Depending on type of vehicle purchased. 20% Down Payment Required. 4.99% 80% Financing

SIGNATURE LOANS
All APR's* are listed as low as 

Signature &  One-Payment Loans

Up to 72 Months 8.50%  
Christmas &  Vacation Up to 12 Months 7.00%  

SHARE PLEDGE LOANS

 

Up to 144 Months 4.00%  

WEPCOLINE OF CREDIT LOANS

 

Open-end 11.75%  

MORTGAGES LOANS

 IN-HOUSE

5-15 Year Terms Available   Changes Weekly Call for Rate

HELOC – Open-end

7 Year Draw - 8 Year Payback or
10 Year Draw – 10 Year Payback Available
  Changes Weekly Call for Rate

 

*APR – Annual Percentage Rate.  WEPCO assumes no responsibly for errors or omissions.  Please contact the credit union to verify current rate(s) or additional information.    The APR on an open-end loan is subject to change during the term of the loan. Any loan not marked as open-end is closed-end.  Rates are subject to terms and conditions. 

Closed End Loans
Closed end loans have a specified term for pay back, a stated payment and a fixed interest rate. 

Repayment Example: 
An example of a closed end loan repayment would be 12 monthly payments of $88.38 at an APR of 11% for $1,000 borrowed.  For this example, please contact a loan officer at any Credit Union office, or use our web site Loan Calculator.  For this example, the rate will not increase during the term of the loan.

Open End Loans
The finance charges include just the interest charged on the outstanding balance.  The rate is variable and subject to change.

Risk Based Lending
WEPCO Federal Credit Union uses a risk based lending policy to determine a member's interest rate. In grading a loan application, the credit bureau provides WEPCO Federal Credit Union with a calculated national risk score, which is then matched to a letter score of A, B, C, or D. Rates have been set according to a corresponding letter grade. The letter grade of an A would receive our best rate, while tiers B, C, and D grades would each receive a slightly higher interest rate.  Rates are based on credit risk, vehicle year, term and amount financed.

The purpose in offering risk Based loans is to help as many members as possible. We recognize that certain members represent more risk than others. We will not grant loans where the probability of repayment is very doubtful. We recognize the importance of managed risk. We also recognize members who are charged unfavorable rates with other lenders, and we could help with a managed risk program that saves these members substantial money while helping them rebuild their credit

GAP Advantage Insurance
Guaranteed Auto Protection (GAP) Insurance protects you against financial loss in the event your vehicle is damaged beyond repair (totaled) or stolen and never recovered.

As the vehicle's value declines as a result of depreciation, the loan balance can be higher than the actual cash value of the vehicle. Without GAP Advantage coverage, if the vehicle is stolen and not recovered or totaled in an accident, you would be responsible for paying the difference between the insurance settlement and the outstanding loan balance.

With the purchase of GAP Advantage coverage at the low cost of only $325 the deficiency balance is waived.