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Loan Rates

Loan rates updated January 2020

Loan Information and Available Discounts

All loan rates shown below are quoted as Annual Percentage Rates (abbreviated APR). All consumer loans are calculated on a simple interest basis and carry no pre-payment penalties or pre-paid interest charges. Optional credit life and credit disability insurance is available to most borrowers on many types of loans at a very reasonable charge. Special terms and conditions apply to certain mortgage loans, so be sure and consult our mortgage loan information page for more complete information. All posted loan rates and terms are subject to change without notice. Velocity Credit Union is an Equal Housing lender.

Loan rates are published at the lowest rates available. Your actual loan rate may vary from those published below. Your Annual Percentage Rate is determined by your individual credit rating score that is obtained from a credit reporting agency. Your interest rate, term and payment will be determined when we process your loan application. Rates and terms are subject to change without notice.

New Car and Truck Loans

Your annual percentage rate (APR) will be based on your individual credit rating score that is obtained from a credit reporting agency. Your interest rate, term and payment will be determined when we process your loan application. Rates and terms are subject to change without notice.

LOAN TERM APR AS LOW AS OTHER INFORMATION PAYMENT PER $1,000 BORROWED
Up to 66 months 3.59%† Member Rewards $16.72
Over 67 to 75 months 3.84%† Member Rewards
Available only on vehicles that retail above $18,000.00**		 $15.02

 

† Our lowest APR includes a Member Rewards discount of 0.50%.
* 100% financing is available on all new models. Financing terms up to 66 months are available only on autos with a retail value greater than $11,000. Financing terms for 67-75 months are available only on autos with a retail value greater than $18,000.
**Promotion rate only available on vehicles that retail above $18,000.00.

Used Car and Truck Loans

Your annual percentage rate (APR) will be based on your individual credit rating score that is obtained from a credit reporting agency. Your interest rate, term and payment will be determined when we process your loan application. Rates and terms are subject to change without notice.

AGE OF VEHICLE LOAN TERM APR AS LOW AS PAYMENT PER $1,000 BORROWED
Current year to 5 years old Up to 66 months 3.59% with Member Rewards† $16.72
Current year to 5 years old 67 to 75 months 3.84% with Member Rewards† $15.02
6 to 7 year old models Up to 54 months 3.59% with Member Rewards† $20.09
6 to 7 year old models 55 to 60 months 3.84% with Member Rewards† $18.35
8 to 10 year old models Up to 36 months 3.84% with Member Rewards† $29.46

 

† Our lowest APR includes a Member Rewards discount of 0.50%.
* 100% financing available to qualified borrowers. Special financing rates and terms are available (up to 5 years) to owners/purchasers of qualified classic, antique, and collectible vehicles. Financing terms up to 66 months are available only on autos with a retail value greater than $11,000. Financing terms for 67-75 months are available only on autos with a retail value greater than $18,000.
**Promotion rate only available on vehicles that retail above $18,000.00.

Mastercard Credit Card Rates

An introductory rate of 0%APR applies to Platinum and Platinum Rewards cards for the first six months after the card is issued; then the rates will revert to those listed below.

ACCOUNT TYPE AVAILABLE CREDIT LIMITS APR AS LOW AS
Mastercard Platinum $1,000.00 to $25,000.00 11.99% APR
Mastercard Platinum Rewards $1,000.00 to $25,000.00 13.49% APR
Mastercard Classic Secured $500.00 to $5,000.00 14.99% APR

 

Personal Loans

Your annual percentage rate (APR) will be based on your individual credit rating score that is obtained from a credit reporting agency. Your interest rate, term and payment will be determined when we process your loan application. Rates and terms are subject to change without notice.

LOAN TYPE AMOUNT FINANCED LOAN TERM APR AS LOW AS PAYMENT /
$1,000 
Personal Loan Up to $40,000 Up to 60 months 9.49%† $20.99

 

†Our lowest APR includes a Member Rewards discount of 0.50%.

New Motorcycles, Motor Homes, Boats, and Campers

Your annual percentage rate (APR) will be based on your individual credit rating score that is obtained from a credit reporting agency. Your interest rate, term and payment will be determined when we process your loan application. Rates and terms are subject to change without notice.

LOAN TYPE LOAN TERMS APR AS LOW AS OTHER INFORMATION PAYMENT PER $1,000 BORROWED
New Motorcycles Up to 60 months 5.00%† 60 month financing available only on amounts of $12,000 and up $18.87
New Motor Homes Up to 60 months 5.00%† 100% financing available to qualified borrowers $18.87
New Motor Homes Up to 84 months 5.25%† 100% financing available to qualified borrowers $14.25
New Motor Homes Up to 120 months 6.25%† 100% financing available to qualified borrowers $11.23
New Motor Homes Up to 144 months 6.50%† 100% financing available to qualified borrowers $10.02
New Boats, Motors, Trailers Up to 60 months 5.00%† 100% financing available to qualified borrowers; maximum amount financed $50,000 $18.87
New Boats, Motors, Trailers Up to 84 months 5.25%† 100% financing available to qualified borrowers; maximum amount financed $50,000 $14.25
New Boats, Motors, Trailers Up to 120 months 6.25%† 100% financing available to qualified borrowers; maximum amount financed $50,000 $11.23
New Travel Trailer and Camper Up to 60 months 5.00%† 100% financing available to qualified borrowers $18.87
New Travel Trailer and Camper Up to 84 months 5.25%† 100% financing available to qualified borrowers $14.25
New Travel Trailer and Camper Up to 120 months 6.25%† 100% financing available to qualified borrowers $11.23
New Travel Trailer and Camper Up to 144 months 6.50%† 100% financing available to qualified borrowers $10.02

 

† Our lowest APR includes a Member Rewards discount of 0.50%.
* Down payment requirement based on vehicle price excluding tax, title, transfer, license and dealer discounts.

Used Motorcycles, Motor Homes, Boats, and Campers

Your annual percentage rate (APR) will be based on your individual credit rating score that is obtained from a credit reporting agency. Your interest rate, term and payment will be determined when we process your loan application. Rates and terms are subject to change without notice.

LOAN TYPE YEAR MODEL LOAN TERM APR AS LOW AS AMOUNT FINANCED PAYMENT PER $1,000 BORROWED
Used Motorcycles Current year & 1 year old Up to 60 months 5.75%† Up to NADA book value $19.22
Used Motorcycles 2 & 3 years old Up to 48 months 6.00%† Up to NADA book value $23.48
Used Motorcycles 4 & 5 years old Up to 36 months 6.50%† Up to NADA book value $30.65
Used Motorcycles 6 & 7 years old Up to 36 months 7.00%† Up to NADA book value $30.87
Used Motor Homes All, based on value Up to 60 months 5.25%† Up to NADA book value $18.99
Used Motor Homes All, based on value Up to 84 months 5.50%† Up to NADA book value $14.37
Used Motor Homes All, based on value Up to 120 months 6.50%† Up to NADA book value $11.36
Used Motor Homes All, based on value Up to 144 months 7.00%† Up to NADA book value $10.29
Used Boats, Motors, Trailers All, based on value Up to 60 months 5.25%† Up to NADA book value; $50,000.00 maximum; boats and motors must be no more than 10 years $18.99
Used Boats, Motors, Trailers All, based on value Up to 84 months 5.50%† Up to NADA book value; $50,000.00 maximum; boats and motors must be no  more than 10 years $14.37
Used Boats, Motors, Trailers All, based on value Up to 120 months 6.50%† Up to NADA book value; $50,000.00 maximum; boats and motors must be no more than 10 years $11.36
Used Travel Trailer and Camper All, based on value Up to 60 months 5.25%† Up to NADA book value $18.99
Used Travel Trailer and Camper All, based on value Up to 84 months 5.50%† Up to NADA book value $14.37
Used Travel Trailer and Camper All, based on value Up to 120 months 6.50%† Up to NADA book value $11.36
Used Travel Trailer and Camper All, based on value Up to 144 months 7.00%† Up to NADA book value $10.29

 

† Our lowest APR includes a Member Rewards discount of 0.50%.
* 100% financing is available to qualified borrowers on used motorcycles, boats, motor homes, travel trailers and camper loans. Velocity reserves the right to reduce loan term depending upon value and condition of vehicle/collateral.

Home Equity, Home Improvement, and Real Estate Loans

Home equity loans as low as 3.99% APR
Loan rates discounted .25% with Member Rewards!

Your annual percentage rate (APR) will be based on your individual credit rating score that is obtained from a credit reporting agency. Your interest rate, term and payment will be determined when we process your loan application. Rates and terms are subject to change without notice.

LOAN TYPE LOAN TERM APR AS LOW AS PAYMENT OVER $1,000 BORROWED WITHOUT MEMBER REWARDS
Home Equity Loans Up to 5 years 3.99%* $18.41
Home Equity Loans Up to 10 years 4.24%* $10.24
Home Equity Loans Up to 15 years 4.74%* $7.78
Home Equity Loans Up to 20 years 5.24%* $6.74
Home Improvement Up to 5 years 5.25%* $18.99
Home Improvement Up to 10 years 5.74%* $10.97
Home Improvement Up to 15 years 6.25%* $8.58
Home Improvement Up to 20 years 7.00%* $7.76
Unimproved Real Estate Up to 8 years 7.50% $15.34
Unimproved Real Estate Up to 12 years 8.50% $11.10
Unimproved Real Estate Up to 15 years 9.50% $10.44

 

*With Member Rewards. Minimum loan amount $20,000.

Miscellaneous Loan Types

Your annual percentage rate (APR) will be based on your individual credit rating score that is obtained from a credit reporting agency. Your interest rate, term and payment will be determined when we process your loan application. Rates and terms are subject to change without notice.

LOAN TYPE AMOUNT FINANCED LOAN TERM APR AS LOW AS OTHER INFORMATION
Share Secured Up to share balance, less other pledges Up to 10 years 4.75%†
Share Certificate Secured Up to certificate balance Not to exceed maturity date of certificate 2.50% over certificate rate, 18.00% maximum† Loan may extend to maturity date of share certificate or maximum of one year, whichever is less
New Furniture, Computers, Appliances and Consumer Goods* Maximum loan amount $20,000 Up to 7 years 9.00%† 100% financing is available to qualified borrowers

 

† Our lowest APR includes a Member Rewards discount of 0.50%.
* Loans for personal computers are limited to 60 months maximum.