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Rates

Loans
Effective Date: Sunday, April 23rd, 2017
NameAnnual Percentage Rates*
Rates and terms subject to changes at any time at the discretion of Manatee Community Federal Credit Union Board of Directors.
New auto-loan **1.75% - 18.00%
Used auto-loan **2.24% - 18.00%
New RVs 6.00% - 18.00%
Used RVs 6.00% - 18.00%
New Motorcycles 6.00% - 18.00%
Used Motorcycles 6.00% - 18.00%
New Boats 6.00% - 18.00%
Used Boats 6.00% - 18.00%
Signature Loan 9.70% - 18.00%
Term line of credit (Term LOC- provides overdraft protection on associated checking account. Advances processed in any dollar amount available on Loc.) 9.70% - 18.00%
Overdraft Protection (Provides overdraft protection on associated checking account. Advances made by overdraft only.) 9.70% - 18.00%
Fresh Start (Credit Re-builder) 8.5% - 8.5%
Credit Builder 15.70% - 18.00%
Saving Secured Loan 3.00% over the rate paid on the account being pledged
Certificate Secured Loan 3.00% over the rate paid on the account being pledged
MasterCard (Regular) 13.92% - 13.92%
MasterCard (Secured) 13.92% - 13.92%

*Rates may vary based on credit worthiness

**Rate disclosed based on maximum MCFCU Rewards discount (.25% for direct deposit; .25% for automatic payment from MFCU account).

Deposits
Effective Date: Sunday, April 23rd, 2017
NameMinimum Deposit to Open AccountMinimum Balance to Obtain DividendRateAPY*
Regular Savings $25.00 $100 - $2,499 0.10%1 0.10%3
  $25.00 $2,500 - $24,999 0.10%1 0.10%3
  $25.00 $25,000 - greater 0.10%1 0.10%3
Club Accounts $10.00 Same as regular savings shown above    
IRA Savings $100.00 Same as regular savings shown above    
Money Market Savings5 $2,500 Under $2,500 0.00%1 0.00%3
  $2,500 $2,500 - $24,999 0.20%1 0.20%3
  $2,500 $25,000 - greater 0.30%1 0.30%3
Checking Plus4 $1,000 $1,000 - $2,499 0.05%1 0.05%3
  $1,000 $2,500 - $24,999 0.10%1 0.10%3
  $1,000 $25,000 - greater 0.15%1 0.15%3
6 Month Certificate - Regular $1,000 $1,000 0.40%2 0.40%3
12 Month Certificate - Regular (IRA 12 Month) $1,000 $1,000 0.50%2 0.50%3
  $10,000 $10,000 0.50%2 0.50%3
24 Month Certificate - Regular or IRA $1,000 $1,000 0.75%2 0.75%3
  $10,000 $10,000 0.75%2 0.75%3

1 These accounts bear a variable dividend rate. The dividend rate and APY (Annual Percentage Yield) may change quarterly (monthly in the case of Checking Plus and Money Market Savings) after the account is opened. Dividends are paid from current income and available earnings after required transfers to reserves at the end of the dividend period. The dividend rate and the APY are the prospective rates and yields that MCFCU anticipates paying for the applicable dividend period. Dividends are calculated by applying a daily periodic rate to the principal in the account each day the minimum balance is maintained.

2 If you withdraw any principal before the maturity date, a penalty equal to 90 days dividend on the funds withdrawn [earned or not] will be assessed. MCFCU uses the daily balance method to calculate dividends on your account. This method applies a daily periodic rate to the principal in the account each day.

3 APY means a percentage rate reflecting the total amount of dividends that will be paid on an account, based on the dividend rate and frequency of compounding for a 365-day period. The APY is based on the assumption that dividends will remain on deposit. A withdrawal will reduce earnings.

4 If your balance falls below $1,000.00 anytime during the month, your account will be assessed a service charge of $10 for that month.

If you make more than six (6) withdrawls or transfers in one month you will be assessed a service charge of $10.00 for each withdrawl over six. 

Dividends begin to accrue on the business day you make your deposit as long as the minimum balance to obtain the APY is met. Dividends are compounded and credited quarterly on the last day of March, June, September, December, and at maturity, as in the case of Certificates; [and on the last day of the month on Checking Plus]

Service Charges and other conditions can reduce the earnings on your account. Dividend rates and APY are accurate as of the date stated on this Rate Sheet. Ask an employee or call us at 748-7704 for further information about applicable service charges, current rates, account conditions or to receive a particular account disclosure and/or accounts agreement.

Member accounts are federally insured up to $250,000 by the National Credit Union Share Insurance Fund. IRA accounts are insured up to $250,000.

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