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Loan Rates

Rates and terms as of April 1, 2021. Loans are subject to credit approval based on each Member’s credit quality. Rates and terms are subject to change without notice. Call 216-920-2000 to speak with a Member Service Representative for more details. Click Here for our Loan Application Online

New Vehicles & Motorcycles

Untitled & less than 7,500 miles

Untitled & less than 7,500 miles

Months

up to 72

up to 84

Rates as low as (APR)

2.74%

3.74%

Used Vehicles & Motorcycles

up to 2 years old

3 – 5 years old

6 – 7 years old

8 years and older

Months

up to 72

up to 72

up to 72

up to 60

Rates as low as (APR)

4.24%

5.74%

6.24%

7.24%

On new vehicles, EFCU will loan up to 100% of the vehicle’s cost to purchase.

On used vehicles, EFCU will loan the retail value plus premiums for options and mileage.

For vehicles older than 7 model years, EFCU will loan based on the vehicle’s wholesale value.

Recreational Vehicles & Boats

New

Used

Months

Up to 180

Up to 180

Rates as low as (APR)

4.75%

5.25%

Signature Loan

$250 or more

Months

Up to 60

Rates as low as (APR)

14.00%

Education Loan

$250 or more

Terms

2% of the balance

Rates as low as (APR)

8.25%

VISA Credit Card

Secured *

Classic

Platinum +

Rates (APR)

9.90% fixed

13.90% fixed

7.15% variable

* Secured with funds on deposit at EFCU.

+ Based on Prime + 3.90% APR

Stretch Pay

$250

$500

Term

30 days

30 days

Rate (APR)

18.00%

18.00%

Annual Fee

$35

$70

Stretch Pay is the credit union alternative to more expensive PayDay Loans. With a $35 annual fee, borrow $250 per month at 18.00% APR. Pay back the $250 advance plus interest within 30 days to get another advance. Qualifications are:

  • Eaton Family CU member for at least 120 days.
  • 18 years or older.
  • Verifiable income.
  • Not delinquent on existing loans.
  • Not negative in any share account.
  • Not in the process of filing for bankruptcy under any chapter of the bankruptcy code.

Secured Loans

Share Secured

Certificate Secured

Term

Depends on loan type

Depends on loan type

Rate (APR)

3% above the dividend rate

2% above certificate rate being used to secure loan

Home Equity

Line of Credit

Loan

Term

5-year draw, 10-year repayment

Up to 15 years

Rate (APR)

As low as 3.25%, variable

As low as 4.25%, fixed

Use your home’s value to realize your dreams: Improve your home, consolidate debts or splurge on a special vacation.  Home Equity Lines of Credit offer a Promotional Rate of Prime minus 1.50% APR for the first 6 months of the loan, then Prime Rate + 0% for the remaining term, currently 3.25% APR with no application fee, closing costs or annual fee. *Current rate as of April 1, 2021. This is a variable rate line of credit. Members may borrow up to 80% of the value of their home, less their first mortgage balance. Members borrowing greater than 80% are subject to the current rate plus a margin. This is a Variable Rate Line of Credit, indexed to the Prime Rate as published in the Wall Street Journal plus a margin determined by the Board of Directors. The interest rate on approved loans can change semi-annually on the first day of February and August. The rate will be determined 31 days prior to the change date. The maximum rate is 18.00% APR or that allowed by law. Members cancelling a Home Equity Line of Credit during the initial 5-year draw period will pay the remaining unamortized closing costs. Ohio residents only. Available only on Owner-Occupied Residence. Subject to credit approval from each member’s individual credit quality. Fixed Rate Home Equity Loans allow borrowers to use the equity in their home to secure a fixed-rate installment loan. Now available nationwide! Contact us for more information or call Debbie at 216-920-2000, ext. 1101. * This is a Fixed Rate Home Equity Loan. Currently as low as 4.25% APR. Current rate effective as of April 1, 2021 and is subject to change. Contact us for current rate. Loan is subject to credit approval based on each member’s individual credit quality.