Rates

Rates

Loans:

New Auto Rates Have Been Lowered to 2.25%
This applies to any term from 12 months to 84* months.

The low cost for gap insurance is $300.00 for the loan term.
This special includes refinancing from other financial institutions only.
If you have purchased a new auto with another financial institution and not more than 90 days have passed you will be entitled to refinance that new auto with the credit union’s new auto rate.
Member will be responsible for the cost and change of title lien.
There is a $10 application fee for this loan.
Approximate monthly payment calculations at 2.25%
12 Month ~ $84.43/ $1,000.00
24 Month ~ $42.70/ $1,000.00
36 Month ~ $28.78/ $1,000.00
48 Month ~ $21.83/ $1,000.00
60-Month ~ $17.61/ $1,000.00**
72* Month ~ $14.88/ $1,000.00
84* Month ~ $12.89/ $1,000.00

**Example: Vehicle cost $25,500.00. 25500.00/1000 = 25.5 x 17.61 = $449.82 per month for 60 months

Used Auto Rates Are Now Reduced to 4.25%
This applies to any term from 12 months to 84* months.

Used auto is based on NADA Retail value (up to 8 years old).
Autos over 5 years may only be refinanced for a 48 month term.
Purchase gap insurance and finance 125% of the NADA RETAIL (this could include taxes that need to be paid at purchase).
There is a $10 application fee for this loan.
Approximate monthly payment calculations at 4.25%
12 Month ~ $85.42/ $1,000.00
24 Month ~ $43.62/ $1,000.00
36 Month ~ $29.70/ $1,000.00
48 Month ~ $22.74/ $1,000.00
60-Month ~ $18.57/ $1,000.00**
72* Month ~ $15.79/ $1,000.00
84* Month ~ $13.81/ $1,000.00
**Example: Vehicle cost $25,500.00. 25500.00/1000 = 25.5 x 18.57 = $473.54 per month for 60 months

THIS SPECIAL DOES NOT APPLY TO LOANS ALREADY FINANCED WITH THE CREDIT UNION BEFORE
April 1, 2016
Don’t forget! This also includes New R-V’s, New Boats, New Motorcycles. Any New Motor Vehicle that can be titled.

*72 month term only for loans over $17,000.00
*84 month term available for loans over $35,000.00

Unsecured Personal Loans
Maximum $15,000.00

Term A – Credit score over 750* B – Credit score 650-750*
C – Credit score below 650*

Term A – B – C
1 Year 7% – 8% – 9%
2 Year 8% – 9% – 10%
3 Year 9% – 10% – 11%
4 Year 10% – 11% – 12%
5 Year** 12% – 13% – 14%
There is a $10 application fee for this loan.

* The HMC (NJ) Federal Credit Union uses Trans Union Credit Agency to retrieve all Credit Scores and Reports
**5 year terms are only for loans over $5,000.

The $1,000.00 Anytime Loan has no credit check.
Maximum amount $1000.00
Maximum term 12 months with 18% APR. Loan must be paid through payroll deduction.
Payments will be a minimum of $50.00 per pay.
Only ONE No Document Loan is allowed at a time.
Other Anytime Loans must be paid in full before another Anytime loan will be approved.
Applicants must be employed at HMC for at least 12 months and an HMC Federal Credit Union Member for at least 12 months. Application must be filled out in its entirety. Paystub and approval to check employment length with HR are the only documentation needed.
There is a $25 application fee for this loan.

Dividends:

Savings: Dividend Rates for Share Savings, Christmas Clubs, Vacation Clubs and Special Savings Clubs:
$.01 – $10,000.00 .05%
$10,000.01 – $40,000.00 .10%
$40,000.01 – $99,999.99+ .15%
Checking: Dividend Rates for Draft Accounts
Over $1,000.00 .005%
Dividend Rates are Reviewed and Posted on a Quarterly Basis