Rates
Rates effective as of June 17, 2013
Dividend Rates
Loan Rates
Fees
Dividend Rates
Savings
Accounts with Direct Deposit/Payroll Deduction & eStatements| Dividend Rate | APY* |
|---|---|
| 5.01% for balances up to $500.00 | 5.10% |
| 0.10% for balances $500.01 and over | 0.10% |
Accounts without Direct Deposit/Payroll Deduction and eStatements will earn a dividend rate of 0.10% and 0.10% APY on any account balance.
*APY = Annual Percentage Yield
All members who make recurring monthly direct or payroll deduction deposits to their savings account or checking account and receive eStatements for those accounts will earn 5.10% APY on any amount up to $500 in their savings account and 5.10% APY on any amount up to $500 in their checking account. For amounts over that, they'll continue to earn the credit union's regular competitive rates. The benefit will be limited to one savings and one checking account receiving eStatements and direct deposit/payroll deduction per primary account holder. For members with multiple savings and checking accounts, the rate will be applied to the accounts that have been open the longest. Youth accounts (M3 Money Club, Elements of Money, and e-Visions) qualify without automated deposits. Specialty accounts like IRAs and UTTMA trusts are ineligible. Terms and conditions of this program are subject to change without notice. Please contact us during regular business hours for details.
Rates and yields may change at any time at the discretion of the Credit Union's Board of Directors. The annual percentage yield (APY) is accurate as of the last dividend declaration date. No minimum balance is required to earn the APY shown above. Fees or other conditions may reduce the earnings of the account. A $5 deposit is required to open a savings account and maintain membership.
Checking
Accounts with Direct Deposit/Payroll Deduction & eStatements| Dividend Rate | APY* |
|---|---|
| 5.01% for balances up to $500.00 | 5.10% |
| 0.05% for balances $500.01 and over | 0.05% |
Accounts without Direct Deposit/Payroll Deduction and eStatements will earn a dividend rate of 0.05% and 0.05% APY on any account balance.
*APY = Annual Percentage Yield
All members who make recurring monthly direct or payroll deduction deposits to their savings account or checking account and receive eStatements for those accounts will earn 5.10% APY on any amount up to $500 in their savings account and 5.10% APY on any amount up to $500 in their checking account. For amounts over that, they'll continue to earn the credit union's regular competitive rates. The benefit will be limited to one savings and one checking account receiving eStatements and direct deposit/payroll deduction per primary account holder. For members with multiple savings and checking accounts, the rate will be applied to the accounts that have been open the longest. Youth accounts (M3 Money Club, Elements of Money, and e-Visions) qualify without automated deposits. Specialty accounts like IRAs and UTTMA trusts are ineligible. Terms and conditions of this program are subject to change without notice. Please contact us during regular business hours for details.
Rates and yields may change at any time at the discretion of the Credit Union's Board of Directors. The annual percentage yield (APY) is accurate as of the last dividend declaration date. No minimum balance is required to earn the APY shown above. Fees or other conditions may reduce the earnings of the account. A $5 deposit is required to open a savings account and maintain membership. $50 is required to open a checking account.
IRAs
| Account Name | Dividend Rate | APY* |
|---|---|---|
| Traditional or Roth IRA | 0.25% | 0.25% |
| Coverdell Education Savings | 1.50% | 1.51% |
Minimum opening balance, $5.
*APY = Annual Percentage Yield
Rates and yields may change at any time at the discretion of the Credit Union's Board of Directors. The annual percentage yield (APY) is accurate as of the last dividend declaration date. No minimum balance is required to earn the APY shown above. Fees or other conditions may reduce the earnings of the account.
Loan Rates
Rates shown below assume repayment by direct deposit or payroll deduction and include a .50% discount. Add .50% for other repayment methods. Some loans show a range of APRs offered. Your rate and the financing terms for which you qualify will be determined by your credit history.
We charge no loan fees on completed loans. However, some loans may require title transfers, title reports, and appraisals with costs and fees of third parties that are beyond our control.
Eligibility for loan products may be limited if you do not live in Washington State. Please contact us for details.
Vehicle Loans
| Loan Type | Terms | APR† |
|---|---|---|
| Automobiles and Recreational Vehicles* | up to 36 months | 1.99% - 15.00% |
| 37 - 60 months | 1.99% - 15.50% | |
| 61 - 84 months, $10,000 Minimum | 2.90% - 15.75% | |
| 85+ months, $20,000 Minimum | 3.90% - 16.00% |
† APR = Annual Percentage Rate
* Including tax and license and up to $1,000 extra added (over NADA value). Optional $1,000 added to the loan amount does not apply to Leisure Crafts. Although the credit union charges no fees for auto loans, fees charged by third parties (including other financial institutions or agencies like the Department of Licensing) may apply. Loan example, on a $20,000 loan at 5.24% APR, you would make 48 monthly payments of $462.76 for a principal and interest total of $22,212.13. Some restrictions apply on refinances. Vehicles over 7 models years old, or, over 100,000 miles are subject to our Signature loan rates (5.90% - 18.00% APR). Rates offered are subject to change and apply to new loans only.
Mortgage Loans
| Product | Interest Rate | APR† | Estimated Payment | Example Loan Amount | Loan to Value* | Owner Occupied |
|---|---|---|---|---|---|---|
| 15-Year Fixed with closing costs | 2.75% | 3.02% | $1,357.00 | $200,000 | < 80% | Yes |
| 15-Year Fixed without closing costs | 3.40% | 3.46% | $1,420.00 | $200,000 | < 80% | Yes |
Evergreen offers a range of affordable programs and various loan terms. Programs include conventional, FHA, VA loans, and other low down payment options. Call 1-800-459-5331 for details.
† APR = Annual Percentage Rate.The payment does not include property taxes and insurance. Available on your primary or second home in Washington. This is not a commitment to lend. Restrictions apply. Please contact us for details.
Additional Information Regarding Rates: All interest rates and annual percentage rates (APRs) offered are accurate as of Feb. 5, 2013 and are subject to change without notice. The APR will be based on the final loan amount and applicable finance charges. Loans are subject to credit approval and other underwriting criteria. Terms and conditions subject to change without notice.
* Loan-to-Value (LTV) is a ratio that divides the home loan value into the property value. For example, if your home is worth $100,000 and you owe $60,000 on your home, then your loan-to-value is 100,000/60,000 = 60%. Fifteen-year loans are available for qualifying customers that have an LTV of 80% or lower. Other qualifying conditions may apply. Call for details.
© 2013 Evergreen Home Loans is a registered trade name of Evergreen Moneysource Mortgage Company NMLS ID 3182. Trade/service marks are the property of Evergreen Home Loans. All rights reserved. Licensed under: Arizona Mortgage Banker License 0910074; California-DOC Residential Mortgage Lending Act License 4130291; Hawaii Mortgage Loan Originator Company License HI-3182; Idaho Mortgage Broker/Lender License MBL-3134; Nevada Mortgage Banker License 3130; Oregon Mortgage Lending License ML-3213; Washington Consumer Loan Company License CL-3182. This is not a commitment to lend. Restrictions apply. Please contact us for details. Evergreen Home Loan is not affiliated with School Employees Credit Union of Washington. All home loans are processed and funded by Evergreen Home Loans. Evergreen Home Loans is not an insured financial institution regulated by the NCUA, nor insured by ESI. Evergreen Home Loans is a Equal Housing Lender.
Home Equity Loans
| Loan Type | Terms | APR† |
|---|---|---|
| Fixed-Rate Home Equity Loan* | up to 85% of primary residence value for 60 months | 2.99% |
| up to 85% of primary residence value for 120 months | 3.49% | |
| up to 85% of primary residence value for up to 180 months | 4.24% | |
| over 85% - 100% of primary residence value** | 5.99% | |
| 75% of value for a vacation home, up to 180 months | 5.99% |
† APR = Annual Percentage Rate
* Available on your primary or vacation residence in Washington. Minimum amount $10,000. Eligibility for loan products may be limited if you do not live in Washington State. Please contact us for details.
** Less current mortgage, up to 180 months
You'll automatically receive these rates when you repay by direct deposit or payroll deduction. Otherwise, add .50%. Example: If you borrow $50,000 at 3.49% APR for 120 months, your monthly payment would be $494.23 for a principal and interest total of $59,306.20. Current Credit Union home equity loans are not eligible for refinancing at 2.99% APR for 60 months or 3.49% APR for 120 months. Although the Credit Union charges no application fees, third-party provider fees for services such as title insurance, appraisals, and flood determination may apply. Fees apply for refinances of existing credit union loans. School Employees Credit Union of Washington is an Equal Housing Lender.
(Also see home equity line of credit)
Personal Loans
| Product | Interest Rate Paid | APR† |
|---|---|---|
| Member First Signature Loan | $200-$7,500, up to 60 months | 5.90% - 18.00% |
| $7,501-$30,000, 61-84 months | 5.90% - 18.00% | |
| Savings Secured | up to 60 months | 2.09% |
† APR = Annual Percentage Rate
Savings Secured Loan example: On a $10,000 loan at 2.09% APR, you would make 60 monthly payments of $175.68 for a principal and interest total of $10,540.28. Loan may be used for any purpose.
Member First Loan example: On a $20,000 loan at 5.90% APR, you would make 60 monthly payments of $385.73 for a principal and interest total of $23,143.60.
Lines of Credit
| Type | Terms | APR† |
|---|---|---|
| Visa® Credit Cards* | Variable rate. Up to $20,000 | 6.99% - 12.99% |
| Visa® Elements Credit Card (teens) | Variable rate. Up to $500 | 8.99% |
| Overdraft Protection** | Variable rate. Up to $2,500 maximum credit limit | 10.00% |
| EquityLine*** | Variable rate. Up to 80% of primary residence value‡ | 5.00% |
† APR = Annual Percentage Rate
* Minimum monthly payment for Platinum, Classic, and Standard credit card types is 2% of the outstanding balance or $25, whichever is greater. The APR for which you may qualify is based on your credit qualifications.
** Variable-rate personal line of credit, which is subject to change. Minimum monthly payment is 3% of outstanding balance or $25, whichever is greater. May be used in increments of $100. Interest begins to accrue immediately.
*** EquityLine's rate is adjusted four times a year by adding 3% to the 11th District Cost of Funds Index as reported at the end of the preceding quarter. EquityLine isn't eligible for our usual one-half percent discount on loans repaid by direct deposit or payroll deduction. You may opt for interest-only payments for the first 10 years of your EquityLine and, pending approval, extend your draw period to 15 years. After your draw period ends, the line of credit converts to a loan in which you repay both principal and interest (with no further draws) for up to 15 years. The maximum APR that may apply over the life of the loan is 18.00%. Please consult your tax adviser for details on potential deductibility.
‡ less any current liens. Loan amount from $20,000 to $150,000. School Employees Credit Union of Washington is an Equal Housing Lender.
(Also see Fixed-Rate Home Equity Loan)
