Loans
EFFECTIVE 2020-10-30
Automobile Loans
Don't be fooled by dealer financing! McKesson EFCU has the best rates around! When the dealer offers you a choice of a cash rebate or low-rate financing, make the right choice. Take the rebate and run to the credit union for your auto loan.
| NEW AUTO |
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|---|---|---|---|
| Maximum Term | Annual Percentage Rate | Daily Periodic Rate | Details and Conditions |
| 60 Mos. | 2.99%-18.00% | .0082% - .0493% | |
| 72 Mos. | 3.99%-18.00% | .0109% - .0493% | Minimum $20,000 Loan |
| USED AUTO Current + 4 years old. |
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|---|---|---|---|
| Maximum Term | Annual Percentage Rate | Daily Periodic Rate | Details and Conditions |
| 60 Mos. | 3.49%-18.00% | .0095% - .0493% | |
| 72 Mos. | 4.49%-18.00% | .0123% - .0493% | Minimum $20,000 Loan |
| USED AUTO 5 - 8 years old. |
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|---|---|---|
| Maximum Term | Annual Percentage Rate | Daily Periodic Rate |
| 24 Mos. | 7.99%-18.00% | .0219% - .0493% |
| 36 Mos. | 8.25%-18.00% | .0226% - .0493% |
Notes: Annual Percentage Rates (APR's) are fixed for the term of the loan (except when a variable ARP applies where stated). Each loan application is considered on its own merits. With the exception of Share-Secured and Certificate-Secured loans, your combined loan balances may not exceed $250,000. If you wish to refinance an existing Credit Union loan at a lower interest rate, you will be charged a processing fee of $200 (the fee will be waived if additional funds of at least $500 are borrowed). All terms are rated shown above are subject to change; please contact us to verify that the information above it current. Additional requirements may apply.
(1) Rates depend upon our underwriting criteria. The actual rate that will apply to Your Account will be disclosed to You no later than the time of Your first credit advance.
(2) Purchase of member owned leased auto, 100% of Kelly Blue Book lending value, including taxes and fees.
(3) New vehicles will be financed up to 100% of MSRP. New vehicles not purchased from licensed auto sales dealer will be financed up to 100% of Kelly Blue Book lending value.
(4) New vehicles are defined as current and previous year model, unregistered and demos or autos financed elsewhere not more then 6 months old, mileage can not exceed 6,000 miles.
(5) Used Vehicles current + 4 years old will be financed up to 100% of Kelly Blue Book lending value. Used Vehicles 5-8 years old will be financed up to 80% of Kelly Blue Book lending value.
(6) Used Vehicles are defined as any vehicle that does not meet the definition of a new vehicle.
(7) Motorcycles financed at 2% above Auto Loans for the same term.
RV, Boat, and Motorcycle Loans
New and Used Boat, RV and Motorcycle loans are available at your Credit Union.
| NEW BOAT Up to 80% of Member supplied Marine Survey Appraisal. |
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|---|---|---|---|
| Maximum Term | Annual Percentage Rate | Daily Periodic Rate | Details and Conditions |
| 60 Mos. | 8.00% - 18.00% | .0219% - .0493% | |
| 120 Mos. | 8.25% - 18.00% | .0226% - .0493% | |
| 180 Mos. | 8.50% - 18.00% | .0233% - .0493% | |
| USED BOAT Up to 70% of Member supplied Marine Survey Appraisal. |
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|---|---|---|---|
| Maximum Term | Annual Percentage Rate | Daily Periodic Rate | Details and Conditions |
| 36 Mos. | 8.50% - 18.00% | .0233% - .0493% | |
| 60 Mos. | 8.75% - 18.00% | .0240%-.0493% | |
| 120 Mos. | 9.00% - 18.00% | .0247%-.0493% | |
| NEW RV Up to 80% of Kelley Blue Book lending value. |
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|---|---|---|---|
| Maximum Term | Annual Percentage Rate | Daily Periodic Rate | Details and Conditions |
| 36 Mos. | 7.75% - 18.00% | .0212%-.0493% | |
| 60 Mos. | 8.00% - 18.00% | .0219%-.0493% | |
| 120 Mos. | 8.25% - 18.00% | .0226%-.0493% | |
| 180 Mos. | 8.50% - 18.00% | .0233%-.0493% | |
| USED RV Up to 70% of Kelley Blue Book lending value. |
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|---|---|---|---|
| Maximum Term | Annual Percentage Rate | Daily Periodic Rate | Details and Conditions |
| 36 Mos. | 8.50% - 18.00% | .0233%-.0493% | |
| 60 Mos. | 8.75% - 18.00% | .0240%-.0493% | |
| 120 Mos. | 9.00% - 18.00% | .0247%-.0493% | |
Notes: Annual Percentage Rates (APR's) are fixed for the term of the loan (except when a variable ARP applies where stated). Each loan application is considered on its own merits. With the exception of Share-Secured and Certificate-Secured loans, your combined loan balances may not exceed $250,000. If you wish to refinance an existing Credit Union loan at a lower interest rate, you will be charged a processing fee of $200 (the fee will be waived if additional funds of at least $500 are borrowed). All terms are rated shown above are subject to change; please contact us to verify that the information above it current. Additional requirements may apply.
(1) Rates depend upon our underwriting criteria. The actual rate that will apply to Your Account will be disclosed to You no later than the time of Your first credit advance.
(2) Purchase of member owned leased auto, 100% of Kelly Blue Book lending value, including taxes and fees.
(3) New vehicles will be financed up to 100% of MSRP. New vehicles not purchased from licensed auto sales dealer will be financed up to 100% of Kelly Blue Book lending value.
(4) New vehicles are defined as current and previous year model, unregistered and demos or autos financed elsewhere not more then 6 months old, mileage can not exceed 6,000 miles.
(5) Used Vehicles current + 4 years old will be financed up to 100% of Kelly Blue Book lending value. Used Vehicles 5-8 years old will be financed up to 80% of Kelly Blue Book lending value.
(6) Used Vehicles are defined as any vehicle that does not meet the definition of a new vehicle.
(7) Motorcycles financed at 2% above Auto Loans for the same term.
Line of Credit
McKesson EFCU offers you two types of signature Line-of-Credit loans.
- Line-of-Credit
- Minimum credit line is $500.
- Maximum credit line is $15,000.
- Tie to your McKesson EFCU checking account for overdraft protection, at No cost.
- Variable Rate Line-of-Credit
- Minimum credit line is $5,000
- Maximum credit line is $15,000
- Tie to your McKesson EFCU checking account for overdraft protection, at No cost.
- Members must have a McKesson EFCU checking account with Direct Deposit (paychecks, Social Security checks, retirement checks, etc.) or pledge $2,500 in your Share (Savings) account before you apply.
- Rate is tied to the Prime Rate as quoted in The Wall Street Journal.
Signature & Line-of-Credit Loan Repayment Schedule
| Loan Amount | Approximate Term | Monthly Payment | ||
|---|---|---|---|---|
| $0.00 | to | $1,000 | 36 Months | $50.00 |
| $1,001 | to | $2,000 | 36 Months | $100.00 |
| $2,001 | to | $3,000 | 36 Months | $125.00 |
| $3,001 | to | $4,000 | 36 Months | $150.00 |
| $4,001 | to | $5,000 | 36 Months | $175.00 |
| $5,001 | to | $6,000 | 36 Months | $225.00 |
| $6,001 | to | $7,000 | 36 Months | $275.00 |
| $7,001 | to | $8,000 | 36 Months | $300.00 |
| $8,001 | to | $9,000 | 36 Months | $325.00 |
| $9,001 | to | $10,000 | 36 Months | $350.00 |
| $10,001 | to | $11,000 | 36 Months | $400.00 |
| $11,001 | to | $12,000 | 36 Months | $425.00 |
| $12,001 | to | $13,000 | 36 Months | $450.00 |
| $13,001 | to | $14,000 | 36 Months | $500.00 |
| $14,001 | to | $15,000 | 36 Months | $525.00 |
Variable Rate Line-of-Credit Loan Repayment Schedule
| Loan Amount | Approximate Term | Monthly Payment | ||
|---|---|---|---|---|
| $0.00 | to | $2,000 | 36 Months | $50.00 |
| $2,001 | to | $3,000 | 36 Months | $75.00 |
| $3,001 | to | $4,000 | 36 Months | $100.00 |
| $4,001 | to | $5,000 | 36 Months | $125.00 |
| $5,001 | to | $6,000 | 36 Months | $150.00 |
| $6,001 | to | $7,000 | 36 Months | $175.00 |
| $7,001 | to | $8,000 | 36 Months | $200.00 |
| $8,001 | to | $9,000 | 36 Months | $225.00 |
| $9,001 | to | $10,000 | 36 Months | $250.00 |
| $10,001 | to | $11,000 | 36 Months | $275.00 |
| $11,001 | to | $12,000 | 36 Months | $300.00 |
| $12,001 | to | $13,000 | 36 Months | $325.00 |
| $13,001 | to | $14,000 | 36 Months | $350.00 |
| $14,001 | to | $15,000 | 36 Months | $375.00 |
| SIGNATURE(2)(3) | |||
|---|---|---|---|
| Maximum Term | Annual Percentage Rate | Daily Periodic Rate | Details and Conditions |
| 36 Mos. | 9.99% - 18.00% | .0273%-.0493%(1) | Minimum loan amount is $500. Maximum $15,000. |
| LINE-OF-CREDIT(2)(3) | |||
|---|---|---|---|
| Maximum Term | Annual Percentage Rate | Daily Periodic Rate | Details and Conditions |
| Revolving | 9.99% - 18.00% | .0273% -.0493%(1) | Minimum loan amount is $500. Maximum $15,000. |
| VARIABLE RATE LINE-OF-CREDIT(2)(3) | |||
|---|---|---|---|
| Maximum Term | Annual Percentage Rate | Daily Periodic Rate | Details and Conditions |
| Revolving | Prime+3% - 18.00% | . % -.0493%(1) | Minimum $5,000 Credit Line. Maximum $15,000 Credit Line. Member must have a Checking Account with Direct Deposit (paychecks, Social Security checks, retirement checks, etc.) or pledge $2,500 in your Share (Savings) Account before you apply. |
VISA
VISA® Credit Cards
McKesson EFCU has the credit card to match your lifestyle. All plans offer a 25-day interest-free grace period on purchases, FEE-FREE cash advances, worldwide emergency cash at financial institutions and ATMs displaying the VISA logo, plus a toll-free 24-hour hotline.
VISA® CLASSIC
- Credit limits start at $500
- $10 late charge if ten days late.
- FREE Travel Accident Insurance up to $250,000
VISA® PLATINUM
- Credit limits start at $5,000
- $10 late charge if ten days late.
- FREE Travel Accident Insurance up to $500,000
- The prestige of platinum:
- FREE rental car insurance
- a 24-hour travel reservation service (with a 5% cash dividend)
- extended warranty protection
- a 60-day best purchase price guarantee
- and much more!
| VISA® CLASSIC(2) | |||
|---|---|---|---|
| Maximum Term | Annual Percentage Rate | Daily Periodic Rate | Details and Conditions |
| Revolving | 12.99%-18.00%(1) | .0355%-.0493%(1) | 25 Day Grace Period on Purchases. Maximum $15,000 Credit Line |
| SECURED VISA® CLASSIC | |||
|---|---|---|---|
| Maximum Term | Annual Percentage Rate | Daily Periodic Rate | Details and Conditions |
| Revolving | 15.00%(1) | 0.041%(1) | 25 Day Grace Period on Purchases. 125% Share Security Collateral Required. |
| VISA® PLATINUM(2) | |||
|---|---|---|---|
| Maximum Term | Annual Percentage Rate | Daily Periodic Rate | Details and Conditions |
| Revolving | 7.99%-18.00%(1) | .0219%-.0493%(1) | 25 Day Grace Period on Purchases. Minimum $5,000 Credit Line, Maximum $15,000 Credit Line |
Variable Rate Unsecured Line-of-Credit:Highest Prime Rate as quoted in The Wall Street Journal "money rates" plus a margin. To be adjusted monthly on the 1st business day of each month. Lifetime rate increase cap of 8%, annual (calendar) cap 3%, monthly cap .50%. Current Rate disclosed at time loan is granted.
(1) Rates depend upon our underwriting criteria. The actual rate that will apply to Your Account will be disclosed to You no later than the time of Your first credit advance.
(2) The maximum combined credit limit for VISA Classic, VISA Platinum, Signature and unsecured Line-of-Credit Loans is $20,000.
(3) Only one Signature Loan may be held by a member at any time.
Home Equity Loans
TAP INTO YOUR HOME'S EQUITY
McKesson EFCU offers fixed-rate and variable-rate loans that enable you to take advantage of the equity you've built in your home. The loan amount is set by the appraised value, your outstanding First Mortgage balance.
Home Equity Line-of-Credit
Available in most states allowing this type of borrowing. Establish a low-cost credit line up to $250,000. The interest rate is as low as the prime rate as quoted in the Wall Street Journal, with No Annual Fee. Tie to your McKesson EFCU checking account for overdraft protection with No additional cost.
2nd Trust Deed
Borrow up to $250,000. You can choose a fixed-rate or a call-option loan.
| HOME EQUITY LINE OF CREDIT -No Points- |
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|---|---|---|---|
| Maximum Term | Annual Percentage Rate | Daily Periodic Rate | Details and Conditions |
| Revolving | Prime+1% - 18.00% | . % -.0493%(1) | Minimum $5,000 Credit Line. Maximum Credit Line not to exceed: 80% of appraised value less balance outstanding on the first mortgage, up to $75,000 75% of appraised value less balance outstanding on the first mortgage, up to $100,000 70% of appraised value less balance outstanding on the first mortgage, up to $250,000 |
| 2ND TRUST DEED (fixed rate) -No Points- |
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|---|---|---|---|
| Maximum Term | Annual Percentage Rate | Daily Periodic Rate | Details and Conditions |
| 60 Mos. | Prime - 18.00% | . % - .0493%(1) | Loan Maximum based on same loan to value as Home Equity Line of Credit above. Up to $250,000. |
| 120 Mos. | Prime + 1% - 18.00% | . % - .0493%(1) | |
| 180 Mos. | Prime + 2% - 18.00% | . % - .0493%(1) | |
| 2ND TRUST DEED (call option loan) -No Points- |
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|---|---|---|---|
| Maximum Term | Annual Percentage Rate | Daily Periodic Rate | Details and Conditions |
| 36 Mos. | 4.75% - 18.00% | .0130%-.0493%(1) | Loan Maximum based on same loan to vault as Home Equity Line of Credit above. Up to $250,000. Payments calculated for 180 months but due at term. |
| 60 Mos. | 5.75% - 18.00% | .0158%-.0493%(1) | |
For Current Mortgage Rates: Go to our Website at www.mckessonefcu.org then click on Home Loans.
Home Equity Line-of-Credit the rate: The rate will adjust to Highest Prime Rate as quoted in The Wall Street Journal "money rates" plus a margin. To be adjusted monthly on the 1st business day of each month. Monthly cap of .50%. Lifetime maximum rate of 18% minimum of 5.00%. Current rate disclosed at time loan is granted. Property must be Your primary residence; certain geographic restrictions apply. Member is responsible for appraisal, escrow and flood certification fees. NO prepayment penalty and NO application fee are charged.
Variable Rate Unsecured Line-of-Credit:Highest Prime Rate as quoted in The Wall Street Journal "money rates" plus a margin. To be adjusted monthly on the 1st business day of each month. Lifetime rate increase cap of 8%, annual (calendar) cap 3%, monthly cap .50%. Current Rate disclosed at time loan is granted.
2nd Trust Deeds:Property must be Your primary residence; certain geographic restrictions apply.. Member is responsible for appraisal, escrow and flood certification fees. NO prepayment penalty and NO application fee are charged.
Fast Deed:All Owners listed on the original Deed of Trust must sign on our Deed. The Borrower is required to provide the copy of the original Deed, a copy of current homeowner's insurance. Borrower is responsible for reconveyance fee when the loan is paid off. Property must be Your primary residence.
(1) Rates depend upon our underwriting criteria. The actual rate that will apply to Your Account will be disclosed to You no later than the time of Your first credit advance.
(2) The maximum combined credit limit for VISA Classic, VISA Platinum, Signature and unsecured Line-of-Credit Loans is $20,000.
(3) Only one Signature Loan may be held by a member at any time.