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Loans


As a member, you can choose from a variety of loan products with affordable financing plans. Your credit union can often help when other financial institutions cannot. Credit union loans are usually at the lowest interest rate anywhere with minimal borrowing costs. There is no penalty for paying your loan off early. These are several options available to make your payment: Payroll allotment, automatically from your checking or savings account, cash, or by check. Credit life and/or credit disability insurance are available on many loans. Property you give as security will secure all amounts owed under the Plan and all other loans you have with us now or in the future, except any loan secured by your principal dwelling. Property securing other loans you have with us may also secure the Plan.

Loan Rates

Rates are based on your current Beacon Score that M-O FCU obtains from Equifax Credit Bureau and relationship pricing.  The relationship pricing allows members to receive a 0.25% rate reduction per service for the following: 

Maximum of up to a 1.0% discount.  Discounts are NOT reflected in the rates table.

View M-O Federal Credit Union Rates

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Apply Online


You have 24/7 access to apply for a loan during the evening and weekend hours when the credit union is closed or when the loan officers are away from their office. Simply follow the link below (E*Teller access is required) and start filling out the online application. All the information will then be sent straight to a loan officer and you will be that much closer to a loan with great rates, backed by great service!

Online Loan Applications

Overdraft Protection

Skip-A-Payment 
 

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New & Used Vehicles

Whether you have a kid heading off to college, need a more reliable means of transportation, or are just looking for something different, we offer our members loans for both new and used vehicles. Financing is available for as long as 7 years, depending on the year of the vehicle. We finance up to 95% of the vehicle purchase based on either the MSRP or NADA value. The interest rate of the loan is determined by the member’s beacon score, the year of the vehicle, and the length of the loan. A vehicle loan is not limited to just cars, pickups, vans, and SUVs, but also includes boats (including trailer and motor), RVs, snowmobiles, ATVs, motorcycle, etc.

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Signature Loans


When situations arise, opportunities appear, you just need a little cash until your next payday, or you are looking to go on vacation, we are here for YOU! We can help you out with our Signature Loans: your good name is good enough for us. No questions asked. No collateral necessary. Your signature, your good credit, your word is all we need. It’s one of the many advantages of credit union membership.

With a signature loan you are able to borrow up to $5,000 for almost anything under the sun. You can choose the length of the loan, how much you pay toward the loan, and the frequency of your payments. You can choose 12, 24, 36, or 48 month terms and there is no penalty if you decide to pay off your loan early. There are also several options available to make your payments: payroll allotment, automatically from your checking or savings account, online transfers through E*Teller, cash, check, in person or by mail.

Another good use of our signature loans may be to pay off or pay down high interest credit cards or payday lenders. So don’t stress out any longer...visit with a loan officer today!

Spring Loans

Our Spring Signature Loans are available every year during the months of April and May. During the spring months you may be talking about heading out for a family vacation, updating the landscaping, buying a new patio furniture set, paying down high interest credit cards after the holiday season, or anything under the sun. Spring into action and take advantage of our Spring Loan Special.

Holiday Loans

Holiday Signature Loans are available every year during the months of November, December and January. We want to help you make the busy time around the holidays as stress free as possible. We’ll be here to help if you find yourself short of cash for that big family feast, those gifts the kids just can’t live without, some extra decorations to add cheer, or whatever the reason may be.


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Share/Certificate Secured


A Share/Certificate Secured loan allows you to borrow money against the value of your Savings, Certificate or Money Market account. This allows you to keep the money where you have it without having to spend it, and offers you a lower interest rate than a signature loan. The rate is determined by the rate being earned on the individual savings or certificate you are borrowing funds against. That rate is 2.50% higher than what is being earned.

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Home Loans


Home Improvement/Equity

Whether you are a do-it-yourself person or would rather pay someone who specializes, you will be doing yourself a favor by keeping your home updated. For those homeowners who are planning a home improvement project in the coming months, consider a M-O FCU home improvement loan. Help improve the look of your home, because when it’s time to sell your home, your remodeling efforts can be the key to selling it faster. Whether it is $500 to buy new carpeting or $10,000 for new windows, we love doing home improvement loans for our members!


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Student Loans


We offer students and parents options to help pay for college. If federal loans do not provide enough money to cover college expenses, consider our In-House Student Educational Loans.

The principal and interest payment is deferred until six months after completion of school, or when the student’s status drops to lower than half-time.

*Contact a Loan Officer for current rates.  Rates reflect a rate reduction for loan set up with an automatic payment option, followed by a rate reduction for having an active checking account with M-O FCU, and then a rate reduction for having an active ATM/Check Card with M-O FCU.

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Computer Loans


We can help you finance 100% of a new computer purchase with a low interest loan.  If you are in need of a new computer or new software for your computer, visit with a loan officer about a computer loan to help you out.  If you have already made the purchase within the last 90 days, bring us your receipt and we will loan you the amount of your purchase.

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Overdraft Protection


Overdraft Protection (ODP) is coverage on your share draft (checking) account in the event your account is overdrawn. It is a loan that is issued to cover your purchases that keeps you from being charged any overdraft or transfer fees. Funds are advanced in $50 increments up to your approved overdraft limit ($1,000 maximum)*.

You are able to transfer funds from your Overdraft Protection into your checking or savings account. In other words, if you have an automatic payment, purchase, etc. that you expect to come out of your account but you do not have the funds to cover that item, you can transfer funds from your ODP (providing you have available funds). If the system transfers funds from your ODP to cover items clearing your account it will only transfer in $50 increments. However, if you have E*Teller access you will be able to transfer any dollar amount, up to the available limit.

Payments of $30 are automatically withdrawn from your checking account on the 15th of each month. If you do not have overdraft protection and would like to sign up for it, contact any M-O employee for an application, or click here.

* Additional overdrafts will be subject to M-O FCU’s overdraft policy.

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VISA Credit Cards


M-O offers a credit card with no annual fee, a 25 day grace period and a fixed annual rate of 12.9% APR. Payments may be made and inquiries conducted internally at both M-O locations. For your convenience, you have access to your account 24 hours a day. You can find information about your current balance, payments, transactions posted since your last statement and much more by going to www.eZCardInfo.com or calling 1-800-808-7230. Contact either location with questions or for an application.

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Loan Consolidation

Do you have so many loan payments you sometimes forget which ones are due during the first part of the month or at the end of the month; or maybe which ones you have already paid and which ones still need to be paid? Don’t stress out any longer; loan consolidation could be just the solution you are looking for. Even if you don’t have several loans, but maybe two loans at more than one financial institution, we can help. We can help you transfer the loan (s) to M-O. Also, don’t forget we have automatic payment options! Automatic transfers can be set-up to be made weekly, bi-weekly, monthly or on a specific day (s) of the month. We can also set up your loan payment (s) to be made when you receive payroll by direct deposit. If you would rather make your loan payments yourself, but would still like a little organization, we can print loan coupons for you. Visit with a Loan Officer today about getting your monthly payments under control!

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Line of Credit

Line of credit is a type of loan that you can continually add funds to (up to a certain limit) when needed. It works similar to overdraft protection, in that you can borrow funds against the loan when needed, pay it back, and then borrow again when needed. You are able to borrow up to $5,000 toward a line of credit loan.

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Loan Services


Automatic Payments

If you have a loan with us and you would like making payments to be easier, we can help! Contact a Loan Officer about setting up automatic loan payments.
Whether you have small loans or big loans, one loan or several loans, you can get them set-up for automatic payments. This can be in the form of a payroll allotment or automatic transfer from your checking or a savings account.

Automatic transfers can be set-up to be made weekly, bi-weekly, monthly or on a specific day (s) of the month. If you are not interested in setting up automatic payments, there is another easy way to make the payments yourself. Make them online 24/7 with our E*Teller services from your checking or savings account. If you do not have E*Teller access, contact M-O today and we will get you signed up. This will not only allow you to make your loan payments, but you will also have 24/7 access to your checking and savings account.

Contact M-O today, and we will get you on the right track to paying your loans!

Payroll Deduction

Are you looking for an easier way to make loan payments or set aside money for a special occasion? If you have your payroll directly deposited into your M-O account, we can help you organize your finances! We can automatically make loan payments for you each time you receive payroll; or set money aside in a savings account for emergencies, a vacation, a wedding, or even in your Christmas Club Account. Contact us today!

Loan Insurance

M-O FCU offers Credit Life and Credit Disability Insurance One of the leading causes of personal bankruptcies and mortgage foreclosures is the financial strain of disability. And a large percentage of disabling accidents and illnesses are not work related. To help protect you and your family, in the event of an unforeseen injury, medical-related illness or unexpected death, having Credit Life and Credit Disability Insurance helps you pay your loan so you or your loved ones don’t have to.

Credit Life and Credit Disability Insurance works in two different ways:
Credit Life – Pays off or reduces the eligible loan balance in the event of member’s death.
Credit Disability – Makes loan payment(s), up to policy maximum, in the event of total disability due to an injury or medical illness, until you are fully recovered.
This is virtually a hassle free feature because you won’t receive extra bills or statements; everything is included in your monthly loan payment. You can cancel anytime within the first 30 days for a full refund.

NADA Guides

If you would like to know the value of a used car, truck, recreational vehicle, or other type of vehicle, we recommend you use the NADA Guides. This is how M-O FCU determines the book value of the vehicle you are going to purchase.

View NADA

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Loan Insurance

Since there’s no way to predict an injury, illness or your unexpected death, there are steps you can take to make sure you and/or your family is provided for if the unforeseen were to happen. Credit Life & Credit Disability Insurance may help make your loan payment(s) when you and your family need it most.

Credit Life Insurance

If you have a balance on your loan at the time of your death, accidental dismemberment or certified diagnosis of a terminal illness, Credit Life Insurance may help pay off or reduce the eligible loan balance. This means you or your family members may not have to make loan payments and can use savings, salary or other life insurance for other important things.

Credit Disability Insurance

If you have a balance on your loan at the time of your total disability, Credit Disability Insurance may make your loan payment(s) up to policy maximum in the event of total disability caused by covered injury or illness.

Credit Disability & Credit Life Insurance

Member’s Choice Credit Disability and Credit Life Insurance may help to pay your loan so you or your loved ones don’t have to. The premium for each of the different loan types is included in your monthly loan payment, so you won’t receive extra bills or statements. Coverage is immediate for eligible borrowers and can be canceled at any time if you change your mind.

Loan Calculator

Disclaimer

The information provided by these calculators is for illustrative purposes only. The default figures shown are hypothetical and may not be applicable to your individual situation. Be sure to consult a financial professional prior to relying on the results. The calculated results are intended for illustrative purposes only and accuracy is not guaranteed..

Use online calculator