Auto Loans

New or (1 year) Old Vehicles*

Term APR
1-5 Years 6.00%
6-7 Years 7.00%

 

Used Vehicles**

Term APR
1-4 Years 9.00%

*New – We can finance up to 100% of the deal including sales tax, and warranties up to $1,500. Geographical restrictions apply.

**Used – We will finance up to 75% of the selling price less tax.

 

 

Commercial Mortgage Loans

Info
Please call (718) 658-9800 ext. 1069 for current rates.

 

 

Fees

Share Fees

Membership Account Opening Fee $1.00 / person
Membership Closed Within 60 Days of Opening $50.00

 

Account Fees

Account History $2.00
Bad Address Fee $5.00 / month1
Bill Pay - Same Day Transaction $9.99 / transaction
Business Checking

$.25 / transaction

First 100 transactions per month are free

Check Order Actual cost
Copy of Paid Check $2.00
Deposited Returned Items $30.00
Duplicate Account Statement $5.00 / statement
Non-Sufficient / Return Item Fee $30.00
Overdraft Transfer from Savings $5.00
Stop Payment $25.00 2
Temporary Counter Checks $10.00
Verification of Deposit (Fee to Member) $35.00 / hour 3

 

Dormant Accounts

Inactive Account Fee
(An account becomes dormant when there is no activity for 12 months.  It only takes one transaction every 12 months to keep an account from becoming dormant)
$5.00 / month
Escheat Processing $50.00

 

Automatic Teller Machines(ATM):

ATM Balance Inquiries or Transactions at Non-Co-op Machines $1.00 4
ATM / Debit Card Replacement $10.00

 

Negotiable Instruments

Cashier's / Certified Check - Member $5.00
Cashier's Check - Non-Member $10.00

 

Other Service Fees

Account Document Request / Research $35.00 per hour 3
Court Order Document Request, Tax Levies / Restraining Notices / Subpoenas / Garnishments $35.00 / hour 3
Foreign Item Collection Fee $25.00
Melrose Non-Payroll Checks Cashed by Non-Member $50.00

 

Wires

Wire / Domestic (outgoing) $25.00
Wires / International (outgoing) $50.00

 

Safe Deposit Box

Safe Deposit Box Drilling Charge $225.00
Safe Deposit Box Key Replacement $75.00

1After 3 return statements. 2Multiple checks stopped at the same time that are in consecutive order will incur only one stop payment fee.  Multiple checks not in consecutive order will incur a fee for each check stopped. 3One hour minimum charge. 4Plus any fee that may be charged by the ATM operator.

Fees current as of print date.
All fees are subject to change without notice.

Revised: October 2017

IRA Share Certificates**

Term Rate Annual Percentage Yield (APY)
1 Year 2.080% 2.100%
2 Year 2.320% 2.350%
3 Year 2.320% 2.350%
4 Year 2.370% 2.400%
5 Year 2.660% 2.700%

**An early withdrawal penalty applies to all Share Certificate Accounts. All new share certificate purchases and renewals will compound dividends quarterly. The interest rate will be determined in the same manner as other share certificates, however due to the compounding there will be an APY on share certificates which is different than the rate. Please note that members will still have the option of having their quarterly dividend transferred to another share account. The minimum purchase for Share Certificates is $5,000.00. The minimum purchase for IRA Share Certificates is $4,000.00. Call or e-mail the Credit Union for certificate disclosure and application. (Additional limitations and regulations apply to IRA accounts. Please contact a Member Service representative for further information and disclosures).

 

 

Mortgage Loans

Info
Please click here for current rates.

 

 

Share Certificates**

Term Rate Annual Percentage Yield (APY)
1 Year 2.080% 2.100%
2 Year 2.320% 2.350%
3 Year 2.320% 2.350%
4 Year 2.370% 2.400%
5 Year 2.660% 2.700%

**An early withdrawal penalty applies to all Share Certificate Accounts. All new share certificate purchases and renewals will compound dividends quarterly. The interest rate will be determined in the same manner as other share certificates, however due to the compounding there will be an APY on share certificates which is different than the rate. Please note that members will still have the option of having their quarterly dividend transferred to another share account. The minimum purchase for Share Certificates is $5,000.00. The minimum purchase for IRA Share Certificates is $4,000.00. Call or e-mail the Credit Union for certificate disclosure and application. (Additional limitations and regulations apply to IRA accounts. Please contact a Member Service representative for further information and disclosures).

 

 

Share Loans

Term
Share loans: Annual Percentage Rate (APR) is based on share rate at time of loan funding and length of loan. Rate could be as low as 2.5%. Contact the Credit Union for a personalized quote.

Share Certificate loans: Annual Percentage Rate (APR) is based on share certificate rate at time of loan funding and length of loan. Rate could be as low as 2.5%. Contact the Credit Union for a personalized quote.

 

Unsecured

Term APR
Up to 3 years 14.00%

 

SBA – Rates Vary

†First Time Borrowers need co-maker.

 

Share Rates

  Rate Annual Percentage Yield (APY)
Share Savings Account 0.100% 0.100%
E-Z Checking* 0.050% 0.050%
IRA Savings Account 0.100% 0.100%

*Dividends on EZ-Checking are variable and can change based on market and other factors. Dividends are earned when a minimum daily balance of $500.00 is maintained on the E-Z Checking Account.