Rates

Two of the greatest values of SCCECU membership are the high rates on deposit accounts and the low rates on loan accounts that are available to our members. As a credit union member, you can be confident that the best rates in Santa Cruz are consistently available at SCCECU to meet your saving and borrowing needs.


Deposit Account Rates

Effective April 1, 2013.

SAVINGS ACCOUNTS

APY**

 
Regular Savings1 .010%  
Holiday Club2 .010%  
Adventure & Cruzin Clubs3 .010%  
Vacation Club4 .010%  
IRA Savings2 .010%  

CERTIFICATE OF DEPOSIT ACCOUNTS***

Minimum Deposit Term APY**  
$500 6 Month .010%  
$500 1 Year .010%  
$2,500 3 Month .010%  
$2,500 6 Month .010%  
$2,500 1 Year .010%  
$2,500 2 Year .010%  
$2,500 3 Year .010%  
$20,000 3 Month .010%  
$20,000 6 Month .010%  
$20,000 1 Year .010%  
$20,000 2 Year .010%  
$20,000 3 Year .010%  
$2,000 IRA CD 1 Year .010%  
$2,000 IRA CD 2 Year .010%  
$2,000 IRA CD 3 Year .010%  


** Annual Percentage Yield
***Penalties may be imposed for early withdrawal

1 Membership fee of $5 required. Initial deposit of $50 required. $100 Minimum daily balance required to obtain the disclosed APY and to avoid a monthly minum balance fee. Dividends are declared quarterly by the Board of Directors and are subject to change. APY disclosed above is for the most recent dividend declaration period. Dividends are paid from current income and available earnings, after required transfers to reserves at the end of a dividend period.

2 Dividends are declared monthly by the Board of Directors and are subject to change. APY disclosed above is for the most recent dividend declaration period. Dividends are paid from current income and available earnings, after the required transfers to reserves at the end of a dividend period.

3 Initial deposit of $5 required. Dividends are declared quarterly by the Board of Directors and are subject to change. APY disclosed above is for the most recent dividend declaration period. Dividends are paid from current income and available earnings, after the required transfers to reserves at the end of a dividend period.

4 Dividends are declared quarterly by the Board of Directors and are subject to change. APY disclosed above is for the most recent dividend declaration period. Dividends are paid from current income and available earnings, after the required transfers to reserves at the end of a dividend period.


Deposit Insurance

Your savings accounts are federally insured to at least $250,000 by the National Credit Union Administration (NCUA).


Loan Account Rates

Effective May 23, 2013

All loan rates with the exception of Share/Certificate Secured loans are determined by individual credit worthiness. We use the applicants FICO score as well as other factors to determine what interest rate will be offered.


New & Used Vehicle Loans

SCCECU offers the same rate for new and used vehicle loans. We will loan up to 100% of purchase price plus tax, license, and service contracts on new vehicles. We will loan up to 100% of current Kelley Blue Book retail value for used vehicles five years old or newer and up to 100% of current Kelley Blue Book private party value for vehicles older than 5 years old. Vehicle must be listed in Kelley Blue Book. Minimum loan amount is $1,000. Maximum loan amount is $50,000. Quoted rates include .25% discount for ACH or payroll automatic payments. 72 month loan terms may not be available for all applicants depending on the credit history of the applicant.
TERM APR*
24 Months 1.75% to 9.65%
36 Months 1.85% to 9.75%
48 Months 1.95% to 9.85%
60/66 Months 2.50% to 10.75%
72 Months 3.25% to 8.25%
Payment Example: Loan amount of $15,000 at 6.75% APR* for 60 months would have an estimated monthly payment of $295.32.

VISA Credit Cards

SCCECU VISA credit cards are variable rate with the rate adjusting twice annually based on the Prime Rate published in the Wall Street Journal. Applicants under the age of 21 must meet standard credit card qualifications or apply with a qualified co-applicant.
TERM APR*
Open End Loan Prime Rate + 6.25% VISA Platinum Plus: Minimum limit is $500; Maximum limit is $12,000.
Open End Loan Prime Rate + 9.25% VISA Platinum: Minimum limit is $500; Maximum limit is $5,000.

Home Equity Term Loans

SCCECU Home Equity Term loans are fixed rate loans. The APR* on the loan is determined by the credit union's evaluation of the credit history of the applicant. The maximum loan-to-value is up to 80% of the appraised value of the home, less other mortgages. The minimum loan amount is $20,000 and the maximum loan amount $200,000.
TERM APR*
5 Years 3.95% to 4.95%
7 Years 5.75% to 6.75%
10 Years 6.25% to 7.25%
Payment Example: Loan amount of $25,000 at 6.75% APR* for 84 months would have an estimated monthly payment of $375.19.

Home Equity Line Of Credit Loans

SCCECU HELOC loans are variable rate laons with the rate adjusting twice annually based on the Prime Rate published in the Wall Street Journal. The maximum loan to value is up to 80% of the appraised value of the home, minus the first mortgage balance. HELOC loans have a 10 year draw period and 15 year repayment period. Minimum loan amount is $20,000. Maximum loan loan amount is $200,000.
TERM APR*

15 Years -2nd lien

 

15 Years -1st lien

Prime Rate + 0%, Minimum APR* 4.50% to Prime Rate + 1.50%, Minimum APR* 6.00%. Maximum APR* that can apply is 18% or the maximum permitted by law, whichever is less.

Prime Rate - 1%, Minimum APR* 3.25% to Prime Rate + 0.%, Minimum APR* 4.25%. Maximum APR* that can apply is 18% or the maximum permitted by law, whichever is less.

Home Equity Term Loans and Home Equity Line of Credit Loans are available on owner occupied homes in California only. Third party fees are passed on to the borrower. These fees generally total between $250 and $600. Fees may be higher on larger loan amounts. Upon application you will receive disclosures that contain important information please keep a copy for your records. A security interest will be taken in your home. You could lose your home if you do not meet the terms of your home equity loan agreement.


Motorcycles and Motorhome Loans

We will loan up to Up to 90% purchase price including tax and license for new motorcycles and motorhomes. We will loan up to 100% of current value as determined by an industry standard appraisal provider for used motorcycles and motorhomes. Minimum loan amount is $1,000. Motorcycle maximum amount is $35,000; maximum term is 60 months. Motorhomes maximum amount is $75,000; maximum term is 72 months. Quoted rates include .25% discount for ACH or payroll automatic payments.
TERM APR*
Up to 72 Months 5.95% to 6.70%
Payment example: Loan amount of $20,000 at 6.70% APR* for 60 months would have estimated monthly payments of $339.09.

PERSONAL LOANS

Quoted rates include .25% discount for ACH or payroll automatic payments. Minimum amount is $1,000; maximum amount is $12,000.
TERM APR*
Up to 24 Months 10.50% to 11.25%
25 to 48 Months 11.50% to 12.25%
Payment example: Loan amount of $5,000 at 12.25% APR* for 36 months would have an estimated monthly payments of $167.38.

Share And CD Secured Loans

Loans are secured by deposits at the credit union. SCCECU will loan up to 100% of the account balance of the account securing the loan. Minimum loan amount is $500.
TERM APR*
Share Secured Up to 60 Months 2.75%
CD Secured CD Maturity CD rate + 2.00%
Payment Example: Loan amount of $3,000 at 2.75% APR* for 24 months would have an estimated monthly payment of $128.74.

*Annual Percentage Rate. All rates are subject to change daily.