March 27, 2020
|Loans||APR*||Term||Est. Cost per $1000|
|Auto Loans (2019-2020)||1.99%- 4.24%||Up to 72 months||$14.75-$15.75|
(2014 or newer)
|1.99% – 4.74%||Up to 60 months||$17.52-$18.75|
|Personal Loans||14.00% – 17.00%||Up to 4 years||$27.33-$28.86|
|Holiday & Vacation||7.50%||Up to 1 year||$86.76|
|Overdraft Protection||14.00% – 17.00%||Line of Credit|
|Share Secured Loan||
|Up to 3 years||$29.15|
|Certificate Secured Loan||Certificate Rate + 3.00%||Up to term of certificate|
|ANNUAL PERCENTAGE RATE||Term|
|Home Equity Line of Credit||Prime +0%
3.25% APR (Current Rate/Minimum Rate)
3.00% (Current Rate with discount for automatic payment)
|Home Equity Loan||
5.49% APR (Fixed Rate)
*APR = Annual Percentage Rate. The actual rate may vary, is based on certain credit-worthiness criteria, and is determined once application is approved. Automatic payment is required to obtain lowest rate. Must be a member of First Priority Credit Union to apply.
Home Equity Loans and Lines of Credit:
Closing costs are waived; however if borrower terminates the agreement or a discharge is issued within 12 months from the date of agreement then the borrower will be responsible for the full amount of waived costs of between $275.00. – $1100.Approval for all home equity products is subject to appraisal. Rates are subject to change without notice. Property Insurance or additional coverage may be required.
Home Equity Loan: Minimum APR is 5.49%. Maximum APR 16.0%.
Payment Example: The monthly payment due per $1000 borrowed on a Fixed Rate Home Equity Loan for a term of 15 years would be $8.17 at a rate of 5.49%. Minimum of $25,000 and maximum of $250,000 applies to this loan.
Home Equity Line: Maximum APR is 16.0%. Minimum APR is 3.25%.Rate is variable and based on prime (as published in the Wall Street Journal) + 0%. Prime rate as of March 16, 2020 is 3.25%. Payment Example: If you made only the minimum monthly payments and took no other credit advances, it would take 20 years to pay off an advance of $10,000 at 4.25% APR. During that period, you would make 120 monthly payments of $50.00 (Minimum payment amount) followed by 120 monthly payments of $97.72.
March 27, 2020
|Minimum Balance to
|Priority Checking Account||2.50||0||no minimum required|
|Money Market Account $0 – $24,999.99||0.15||2500||no minimum required|
|Money Market Account $25,000.00 or More||0.30||2500||no minimum required|
|IRA Accumulator||0.15||0||no minimum required|
|Holiday Account||0.15||0||no minimum required|
|Vacation Accounts||0.15||0||no minimum required|
|All-Purpose Account||0.15||0||no minimum required|
*APY = Annual Percentage Yield. Rates may change without notice, after the account is open. Fees could reduce earnings on accounts.
Share Account: Must be maintained to open any other account.
Priority Checking Account: To earn rate on account the following conditions must be met: (1) Direct deposits totaling$500 or more (2) 12 Debit transactions (3) Online banking and eStatements and (4) EITHER a Bill Payment OR an online banking transfer. Accounts that do not meet these requirements and balances over $10,000 will earn the same as the regular Share Draft Account, which does not earn interest at this time.
Holiday, All-Purpose and Vacation Accounts: Early withdrawal fee of $15.00 for withdrawals made before the disbursement date.
Certificates & IRAs
March 27, 2020
|Share/IRA Certificates||APY*||Minimum Balance
(to Open & Earn Dividend)
*APY = Annual Percentage Yield. Early withdrawal penalties may apply. Any changes to certificates must be made on or within 10 days of the maturity date. Fees could reduce earnings on the account.