Interest Rates

Deposit Interest Rates - Effective as of 12/17/14

Products

Balance

Interest Rate

APY*

Compounded

Green Rewards
Qualifying Balance

Non-Qualifying Balance

$0-25,000
$25,000+
$0-25,000

1.51%
0.10%
0.02%

1.52%
0.10%
0.02%

Monthly
Prestige Accounts (55 years +) $1,000-2,499
$2,500-4,999
$5,000+
0.05%
0.08%
0.10%
0.05%
0.07%
0.10%
Monthly
Money Market Deposit Account $1,000-2,499
$2,500-19,999
$20,000-49,999
$50,000+
0.05%
0.10%
0.13%
0.15%
0.05%
0.10%
0.12%
0.15%
Monthly
Interest Checking (NOW) $500 0.05% 0.05% Monthly
Health Savings Account $25 0.10% 0.10% Monthly
Passbook, EDISS, IRA $100 0.10% 0.10% Quarterly
Christmas Club $5.00 0.10% 0.10% Maturity
Choice Account ** $3,000-9,999
$10,000-49,999
$50,000+
0.10%
0.10%
0.10%
0.10%
0.10%
0.10%
Monthly

Individual Retirement Accounts

(IRA)

$500 CD Rates
Below Apply
Quarterly

Individual Retirement Accounts

(IRA) - Variable

$100 0.42% 0.42% Quarterly


Fees may reduce earnings. 

The minimum initial deposit amounts apply to the following personal accounts: Green Rewards Checking $25, Prestige Checking and Prestige Plus Checking $500, Interest Checking $25, Health Savings Account $25, Choice Checking $3,000, Money Market Savings $2,500, Passbook Savings  $25, Everyday Interest Statement Savings $25, Christmas Club $5, Individual Retirement Accounts $500, Certificates of Deposit $1,000.  List not inclusive of all accounts.  Ask our Customer Service Representatives for more information.

*APY Annual Percentage Yield. 

**Ask about other options not insured by FDIC.

Interest rates subject to change without notice.

Certificates of Deposit - Effective as of 12/17/14

CD - Length

Balance

Interest Rate

APY*

Compounded

15-179 days $ 1,000-9,999
$10,000-24,999
$25,000+
0.09%
0.14%
0.21%
0.09%
0.14%0.21%
Maturity
6-11 months $1,000-9,999
$10,000-24,999
$25,000+
0.10%
0.15%
0.24%
0.10%
0.15%
0.24%
Maturity
12-23 months $1,000-9,999
$10,000-24,999
$25,000+
0.15%
0.21%
0.28%
0.15%
0.21%
0.28%
Quarterly
24-35 months $1,000-9,999
$10,000-24,999
$25,000+
0.18%
0.25%
0.31%
0.18%
0.25%
0.31%
Quarterly
36-47 months $1,000-9,999
$10,000-24,999
$25,000+
0.26%
0.34%
0.40%
0.26%
0.34%
0.40%
Quarterly
48-59 months $1,000-9,999
$10,000-24,999
$25,000+
0.31%
0.39%
0.45%
0.31%
0.39%
0.45%
Quarterly
60 months $1,000-9,999
$10,000-24,999
$25,000+
0.43%
0.55%
0.62%
0.43%
0.55%
0.63%
Quarterly

Substantial Penalty for early withdrawal of CD or IRA funds.

The minimum initial deposit amounts for Certificates of Deposit is $1,000.  List not inclusive of all accounts.  Ask our Customer Service Representatives for more information.

*APY Annual Percentage Yield.

Interest rates subject to change without notice.

Residential Mortgage Interest Rates Effective as of 12/09/14

Product

Interest Rate

APR

Points

30 yr. Fixed 4.125% 4.196% 0%
20 yr. Fixed 3.875% 3.973% 0%
15 yr. Fixed 3.500% 3.624% 0%
10 yr. Fixed 3.500% 3.678% 0%

The Annual Percentage Rate (APR)  is based upon a $100,000.00 mortgage with a 20% down payment and includes the following finance charges:  30 days prepaid interest, closing fee, flood certification, credit score disclosures, processing fees and points. The APR’s on a 30, 20, and 15 year fixed interest rates mortgage are subject to a .25% market condition fee.

Private Mortgage Insurance (PMI) may be required on any mortgage that exceeds 80% loan to value.

Jumbo mortgages assume loan amounts greater than $417,000.00.

We also offer MSHDA and Rural Development loans.  Contact  the Retail Lending Department for more details.

All interest rates are subject to change.

Home Equity Credit Line - Fixed Interest Rate

Amount

Term

Interest Rate

APR

$10,000 - $100,000 60 5.500% 5.500%

Example:  A loan of $10,000.00 at a fixed interest rate of 5.500% for 60 months would have an estimated monthly payment of $100.51.  The payment is 1.00% of the outstanding balance.  A balloon payment may be due at maturity.  Other fees may apply.  Discounts are not available on the Fixed Home Equity Credit Line Loan.   The maximum loan to value cannot exceed 75% of the value of the home. Ask us about our Green loan rates.  All interest rates are subject to change.

Home Equity Credit Line - Variable Interest Rate

Amount

Term

Interest Rate

APR

$10,000 - $49,999 60 Prime + 1/2% 4.250%
$50,000 - greater 60 Prime 4.250%

Example:  A loan of $10,000.00 at Prime + 1/2% margin for 60 months would have an estimated monthly payment of $100.35.  The payment is 1.000% of the outstanding balance.  A balloon payment may be due at maturity. The interest rate is based on the current "New York Prime Lending Rate" as published in the Wall Street Journal. Prime is currently at 3.250%. The maximum annual percentage interest rate (ceiling) that may be imposed during the term of the loan is 18.000%, and the minimum annual percentage interest rate (floor) of 4.250%. Other fees may apply.  The maximum loan to value cannot exceed 75% of the value of the home. All interest rates are subject to change. Ask us about our Green loan rates.

Vacant Land - Variable Interest Rate

Down Payment

Term

Interest Rate

APR

50% Down Payment 60 Prime + 1.000% 6.159%
Example: A loan amount of $20,000.00 with a down payment of $20,000.00.00 the rate would be  Prime + 1.000% with a floor of 6.000% and a ceiling of 8.000% for 60 months, with a $125.00 fee and a 20 year amortization. This example has an estimated monthly payment  of $143.32 and a balloon payment of $17,120.81, with an APR of 6.155%. Prime is currently 3.250%. Other fees may apply. All interest rates are subject to change.
New & Used Auto Loans

Model Year of Auto

Term

Interest Rate

APR

2014-2012 84 2.500% 2.864%
2014-2012 60 1.750% 2.249%
2011-2009 48 1.990% 2.609%
Example: A loan amount of $10,000.00 at the rate of 1.750% and APR of 2.249% on a 2012 vehicle for 60 months with a $125.00 fee would have an estimated monthly payment of $176.37. Other fees may apply. All interest rates are subject to change.
Large RVs & Watercraft (marine/trailers/campers)

Product

Term

Interest Rate

APR

New 180 7.375% 7.478%
Example: A loan amount of $20,000.00 at 7.375% and APR of 7.480% for 180 months with a $125.00 fee would have an estimated monthly payment of $185.15. Other fees may apply. All interest rates are subject to change.
Small RVS (snowmobile, personal watercraft, motorcycle, lawn & garden)

Product

Term

Interest Rate

APR
New 60 7.250% 8.287%
Example: A loan amount of $5,000.00 at 7.250% and APR of 8.295% for 60 months with a $125.00 fee would have an estimated monthly payment of $102.07. Other fees may apply. All interest rates are subject to change.

Main Office: 83 W. Nepessing St. • P.O. Box 250 Lapeer, MI 48446
NMLS #458980