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Deposit Account Rates

APY = Annual Percentage Yield. Dividend rate and APYs subject to change after the account is opened.


Savings

Effective January 1, 2017

Account Dividend Rate APY
Banking for Everyone 7.00%1 7.00%
Banking for Youth 7.00%1 7.00%
Summer Reserve 0.10% 0.10%
Holiday Savings Club 0.10% 0.10%

Minimum $1 required to open and maintain account. Dividends paid from current income and available earnings, after required transfers to reserves at the end of a dividend period. Fees and other conditions could reduce earnings on any of the above accounts. The Dividend Rates and APYs on saving accounts are subject to change on a quarterly basis. Dividend Rates and APYs on Super$hare, Premier Money Market and Interest Checking Accounts are subject to change monthly as determined by the Board of Directors. For current Dividend Rates and APYs, please call the Credit Union at 916-569-5400 or 800-962-0990. The Dividend Rates and APYs quoted above are accurate as of November 1, 2016.
1 A dividend rate of 7.00% will be paid only on the portion of your daily balance that is less than $500.01 that meets the Banking for Everyone Savings/Youth qualifications. The APY will range between 7.00% and 7.19% depending upon account balance. Dividends compound at 7.00% APY up to an account balance of $500. Notwithstanding anything to the contrary in your Schools Financial Credit Union Truth in Savings Disclosure (“Disclosure”), you understand and agree that the 7.00% APY does not compound on the portion of your daily account balance greater than $500. An APY of 0.10% will be paid on nonqualifying accounts and the portion of your account balance greater than $500. Business and organization accounts are not eligible. One Banking for Everyone Savings/Youth account per Social Security Number. Contact the Credit Union or visit schools.org for additional account qualifying information.


Checking

Effective January 1, 2017

Account Balance Dividend Rate APY
Interest Checking N/A 0.05% 0.05%
Premier Money Market Checking $0.01 - $19,999.99 0.05% 0.05%
  $20,000 - $99,999.99 0.05% 0.05%
  $100,000 + 0.05% 0.05%

Minimum balances required to earn the stated Annual Percentage Yield for Money Market Checking accounts. Dividends paid from current income and available earnings, after required transfers to reserves at the end of a dividend period. Fees and other conditions could reduce earnings on any of the above accounts. The Dividend Rates and APYs on saving accounts are subject to change on a quarterly basis. Dividend Rates and APYs on Premier Money Market Checking and Interest Checking accounts are subject to change monthly as determined by the Board of Directors. For current Dividend Rates and APYs, please call the Credit Union at 916-569-5400 or 800-962-0990. The Dividend Rates and APYs quoted above are accurate as of November 1, 2016.


Money Market

Effective January 1, 2017

Account Balance Dividend Rate APY
Premier Money Market $0.01 - $19,999.99 0.10% 0.10%
  $20,000 - $99,999.99 0.20% 0.20%
  $100,000 + 0.25% 0.25%

Minimum balances required to earn the stated Annual Percentage Yield (APY). Dividends paid from current income and available earnings, after required transfers to reserves at the end of a dividend period. Fees and other conditions could reduce earnings on any of the above accounts. The Dividend Rates and APYs on saving accounts are subject to change on a quarterly basis. Dividend Rates and APYs on Premier Money Market accounts are subject to change monthly as determined by the Board of Directors. For current Dividend Rates and APYs, please call the Credit Union at 916-569-5400 or 800-962-0990. The Dividend Rates and APYs quoted above are accurate as of November 1, 2016.


Super$hare

Effective January 1, 2017

Balance1 Dividend Rate APY
$0.01 - $999.99 0.05% 0.05%
$1,000 - $2,499.99 0.05% 0.05%
$2,500 - $9,999.99 0.10% 0.10%
$10,000 - $49,999.99 0.15% 0.15%
$50,000  + 0.20% 0.20%


Dividends paid from current income and available earnings, after required transfers to reserves at the end of a dividend period. Fees and other conditions could reduce earnings on any of the above accounts. Dividend Rates and APYs on Super$hare accounts are subject to change monthly, as determined by the Board of Directors.
1 Minimum balances required to earn the stated Annual Percentage Yield (APY).


Premium Rate Certificate

Effective January 18, 2017

Account Minimum Balance Dividend Rate APY
3-month Premium Rate $1,000 + 0.10% 0.10%
6-month Premium Rate $1,000 + 0.25% 0.25%
12-month Premium Rate $1,000 + 0.30% 0.30%
30-month Premium Rate $1,000 + 0.55% 0.55%
36-month Premium Rate $1,000 + 0.85% 0.85%
48-month Premium Rate $1,000 + 1.12% 1.12%
60-month Premium Rate $1,000 + 1.50% 1.51%
       
12-month College Saver $200 + 0.30% 0.30%
       
12-month Add-On1 $10,000 + 0.30% 0.30%
       
30-month Opt-Up2 $10,000 + 0.55% 0.55%

Premium Rate Certificates automatically renew at the prevailing APY with a 10-day grace period. A penalty may be imposed for early withdrawal. The applicable Dividend Rates and APYs set forth above would be paid for the length of the term listed. Annual Percentage Yields may increase for balances of $50,000 or more. Call 916-569-5400 (Sacramento area) for additional rates.
1 The Add-On Premium Rate Certificate allows additional deposits in increments of $1,000 or more up to an amount equal to the initial opening (or renewal) balance.
2 The Opt-Up Premium Rate Certificate allows a one-time interest rate increase during the certificate without penalty or term extension.


IRA & Deferred Compensation Shares

Effective December 1, 2016

Account Balance1 Dividend Rate APY
IRA & Deferred Compensation  $0.00 - $9.999 0.10% 0.10%
  $10,000 - $19,999 0.15% 0.15%
  $20,000 - $99,999 0.20% 0.20%
  $100,000 and over 0.25% 0.25%

1 Minimum balances required to earn the stated Annual Percentage Yield (APY).


IRA & Deferred Compensation Certificates

Effective January 18, 2017

Account Balance1 Dividend Rate APY
3-month IRA & Deferred Comp Certificate $500 - $49,999 0.10% 0.10%
6-month IRA & Deferred Comp Certificate $500 - $49,999 0.25% 0.25%
12-month IRA & Deferred Comp Certificate $500 - $49,999 0.30%  0.30%
30--month IRA & Deferred Comp Certificate $500 - $49,999 0.55% 0.55%
36-month IRA & Deferred Comp Certificate $500 - $49,999 0.85% 0.85%
48-month IRA & Deferred Comp Certificate $500 - $49,999 1.12% 1.12%
60-month IRA & Deferred Comp Certificate $500 - $49,999 1.50% 1.51%
       
12-month Add-On2 $10,000 + 0.30& 0.30%
       
30-month Opt-Up3 $10,000 + 0.55% 0.55%

1 Minimum balance required to earn the stated Annual Percentage Yield (APY).
2 The Add-On IRA & Deferred Compensation Certificate allows additional deposits in increments of $1,000 or more up to an amount equal to the initial opening (or renewal) balance.
3 The Opt-Up IRA & Deferred Compensation Certificate allows a one-time interest rate increase during the certificate term without penalty or term extension.



 

Visa® Credit Card Rates

Effective January 1, 2017

Schools Financial
rate as low as
6.99%
APR

VS

Bank and Credit
Union average
12.16%
APR

=

Savings
up to
$435
At the
lowest APR

SAVE UP TO $435 on a Credit Card vs. the National Average of the Best Rate Credit Cards*

*$435 is the difference between the amount paid in interest between Schools Financial Credit Union’s rate of 6.99% APR compared to 12.16% APR for the National Average of the Best Rate Credit Cards over the life of a $5,000 balance over 36 months. APR = Annual Percentage Rate. Schools Financial Credit Union rates outperform the average of the top rated credit cards nationally as published on Bankrate.com.

Visa Credit Cards Interest Rates and Interest Charges
Visa Credit Cards Platinum Visa
Credit Card2,3
Platinum Rebate Visa
Credit Card2,3,4
Platinum Rewards Visa
Credit Card2,3,7
Annual Percentage Rate (APR1) for Purchases
This APR will vary with the market based on the Prime rate.
6.99% to 13.15%5,6
 
13.15% to 14.15%5,6 9.24% to 14.15%5,6
APR for Balance Transfers
The APR will vary with the market based on the Prime Rate.

1.99% introductory APR for six months.8

After that, your APR will be

6.99% to 13.15%5,6 based on your creditworthiness.

1.99% introductory APR for six months.8

After that, your APR will be

13.15% to 14.15%5,6 based on your creditworthiness.

1.99% introductory APR for six months.8

After that, your APR will be

9.24% to 14.15%5,6 based on your creditworthiness.

APR for Cash Advances
This APR will vary with the market based on the Prime Rate.
6.99% to 13.15%5,6 13.15% to 14.15%5,6 9.24% to 14.15%5,6
Penalty APR and when it applies None
Paying Interest Your due date is at least 25 days after the close of each billing cycle. We will not charge you any interest on purchases if you pay your entire balance by the due date each month. We will begin charging interest on cash advances and balance transfers on the transaction date.
For Credit Card Tips from the Consumer Financial Protection Bureau To learn more about factors to consider when applying for or using a credit card, visit the website of the Consumer Financial Protection Bureau at http://www.consumerfinance.gov/learnmore.
Fees
Annual Fee None
Transaction Fees:
  • Balance Transfers
  • Cash Advances
  • Foreign Transactions

None

Either $5 or 2.5% of the amount of each cash advance, whichever is greater.

1% of each international transaction requiring a currency conversion.
.8% of each international transaction in U.S. Dollars

Penalty Fees
  • Late Payment
$15
  1. APR = Annual Percentage Rate.
  2. Rates, fees and terms may change. The terms of the Account are not guaranteed and we reserve the right to change Account terms, including APRs, at any time for any reason, in our sole and absolute discretion, in accordance with applicable law and the terms of the Visa Credit Card Agreement and Federal Truth-in-Lending Disclosure. See the Visa Credit Card Agreement and Federal Truth-in-Lending Disclosure for complete terms.
  3. Actual rate will be based upon the member’s creditworthiness and ability to repay.
  4. Receive a 1% cash rebate on purchases (less returns) with Platinum Rebate Visa Credit Card.
  5. Products, services, rates and terms are accurate as of January 1, 2017. Call our Member Contact Center for the most recent information.
  6. APR is determined on the first Tuesday of each month by adding a variable Index in effect on the first Tuesday of the prior month to a Margin. The Index is the Prime Rate published in the print edition of The Wall Street Journal on the first Tuesday of the month preceding the month in which the change takes effect. Variable APRs disclosed above are based on the 3.50% Prime Rate published on December 6, 2016.
  7. Receive one point for every one U.S. dollar ($1) in eligible net purchases rounded to the nearest whole dollar. See the Program Rules for more details at https://www.rewardsnow.com/schools/terms.asp.
  8. This rate will apply to all balance transfers made between January 1, 2017, and March 31, 2017. The introductory rate will be in effect for six (6) months from the date of the balance transfer.

Loan rates are established by the Board of Directors. Rates, terms, products and services are subject to change without notice.

Loan amount, rate and approval are based upon the member’s creditworthiness, payment history and ability to repay the loan.

Apply online at schools.org.

Call our Member Contact Center at 916-569-5400 (Sacramento area) or 800-962-0990 for the most current information.

 

Consumer Loan Rates

APR = Annual Percentage Rate.


Auto Loan, New

Effective January 1, 2017

Schools Financial
rate as low as
2.39%
APR on a new car for 60 months

VS

Bank and Credit
Union average
3.58%
APR on a new car for 60 months

=

Savings
up to
$885
APR on a new car
for 60 months

SAVE UP TO $885 on a New Car for 60 months vs. the Bank and Credit Union Average*

*$885 is the difference between the amount paid in interest between Schools Financial Credit Union's rate of 2.39% APR compared to 3.58% APR for the Bank and Credit Union Average over the life of a $28,000 loan over 60 months. APR = Annual Percentage Rate. Schools Financial Credit Union rates outperform the Bank and Credit Union average as published weekly in The Sacramento Bee.

Term APR as low as
0-48 months 2.39%
49-60 months 2.39%
61-66 months 2.49%
67-72 months 2.69%
73-78 months 2.99%
79-84 months 2.99%

A new vehicle is defined as a current or previous model year with less than 10,000 miles. Financing for new vehicles is available for up to 125% of MSRP plus GAP waiver ($900 max) and cancelable products.1 GAP is not required. Your interest rate will be determined by the amount financed, loan term and your creditworthiness.
Representative Example: A $28,000, 60-month loan at 2.39% APR and 100% financing, would require 59 payments of $495.58 with one final payment of $495.47.
1 Cancelable products would include warranty and/or prepaid maintenance, up to $3,500 or 15% MSRP whichever is greater, $8,000 max.


Auto Loan, Used

Effective January 1, 2017

Term APR as low as
0-48 months 2.49%
49-66 months 2.49%
67-72 months 2.69%
73-84 months 2.99%

Financing for used vehicles is available for up to 120% of Retail Blue Book value plus GAP waiver ($900 max) and cancelable products.2 Refinances up to 120% of Retail Blue Book value plus GAP waiver. GAP is not required. Your interest rate will be determined by the amount financed, loan term and your creditworthiness.
Representative Example: A $15,000, 48-month loan at 2.49% APR and 100% financing, would require 47 payments of $336.32 with one final payment of $336.01.
1 Cancelable products would include warranty and/or prepaid maintenance, up to $3,500 or 15% Retail Blue Book whichever is greater, $8,000 max.

2 Rates for cars, trucks, vans and sports utility vehicles with model years 2002 through 2006 will be priced at current Signature Loan rates (7.99% - 13.90%). The maximum term for a vehicle older than 10 years is 66 months.


Boat Loan, New

Effective January 1, 2017

Amount Term APR
$5,000 - $49,999 84 months 6.25% - 13.25%
$50,000 - $99,999 120 months 6.50% - 13.50%
$100,000 - $200,000 180 months 7.65% - 14.65%

Financing is available for up to 100% of selling price, including sales tax, license and GAP waiver.1 Your interest rate will be determined by the amount financed, loan term and your creditworthiness.
Representative Example: A $25,000, 84-month loan at 6.25% APR would require 83 payments of $368.32 with one final payment of $367.37.
1 Maximum GAP waiver for boats and recreational vehicles ranges from $700 - $995 depending on loan amount. Maximum loan amount eligible for GAP coverage is $50,000 and coverage provided shall not exceed 84 months.


Boat Loan, Used

Effective January 1, 2017

Amount Term APR
$5,000 - $49,999 72 months 7.99% - 14.99%
$50,000 - $99,999 96 months 8.24% - 15.24%
$100,000 - $200,000 144 months 8.24% - 15.24%

Financing is available for up to 100% of Wholesale Guide or Marine Survey, whichever is less, including sales tax, license and GAP waiver.1 Your interest rate will be determined by the amount financed, loan term and your creditworthiness.
Representative Example: A $25,000, 84-month loan at 6.25% APR would require 83 payments of $368.32 with one final payment of $367.37.
1 Maximum GAP waiver for boats and recreational vehicles ranges from $700 - $995 depending on loan amount. Maximum loan amount eligible for GAP coverage is $50,000 and coverage provided shall not exceed 84 months.


Motorcycle, New

Effective January 1, 2017

Amount Term APR
$1,000 - $50,000 84 months 6.25% - 13.25%

A new vehicle is defined as a current or previous model year with less than 100 miles. Financing is available for up to 90% of selling price, including sales tax, license and GAP waiver ($395 Max). Your interest rate will be determined by the amount financed, loan term and your creditworthiness.
Representative Example: A $10,000, 84-month loan at 6.25% APR would require 83 payments of $147.14 with one final payment of $146.38.


Motorcycle, Used

Effective January 1, 2017

Amount Term APR
$1,000 - $35,000 60 months (max. 5 model years) 7.99% - 14.99%

Financing is available for up to 100% of Low Blue Book plus tax, license and GAP waiver ($395 Max). Your interest rate will be determined by the amount financed, loan term and your creditworthiness.
Representative Example: A $10,000, 60-month loan at 7.99% APR would require 59 payments of $202.73 with one final payment of $202.53.


Recreational Vehicle, New

Effective January 1, 2017

Amount Term APR
$5,000 - $49,999 84 months 6.25% - 13.25%
$50,000 - $99,999 120 months 6.50% - 13.50%
$100,000 - $200,000 180 months 7.65% - 14.65%

A new vehicle is defined as a current or previous model year (financed before January 1 of the current year), with less than 10,000 miles. Financing is available for up to 100% of the MSRP including sales tax, license and extended warranty (MBI), plus GAP waiver. Maximum GAP waiver for recreational vehicles ranges from $700 - $995, depending on loan amount. Maximum loan amount eligible for GAP coverage is $125,000 and coverage provided shall not exceed 84 months. Your interest rate will be determined by the amount financed, loan term and your creditworthiness.
Representative Example: A $35,000, 84-month loan at 6.25% APR would require 83 payments of $514.97 with one final payment of $514.32.


Recreational Vehicle, Used

Effective January 1, 2017

Amount Term APR
$5,000 - $49,999 72 months (max. 12 model years) 7.99% - 14.99%
$50,000 - $99,999 96 months (max. 9 model years) 8.24% - 15.24%
$100,000 - $200,000 144 months (max. 6 model years) 8.24% - 15.24%

Financing is available for up to 100% of High Blue Book, including sales tax, license and extended warranty (MBI), plus GAP waiver. Must be in Blue Book. Maximum GAP waiver for recreational vehicles ranges from $700 - $995, depending on loan amount. Maximum loan amount eligible for GAP coverage is $125,000 and coverage provided shall not exceed 84 months. Your interest rate will be determined by the amount financed, loan term and your creditworthiness.
Representative Example: A $35,000, 72-month loan at 7.99% APR would require 71 payments of $613.54 with one final payment of $613.45.


Airplane, New

Effective January 1, 2017

Amount Term APR
$5,000 - $49,999 84 months 6.25% - 13.25%
$50,000 - $99,999 120 months 7.65% - 14.65%
$100,000 - $200,000 240 months 7.65% - 14.65%

A new airplane is defined as a current or previous model year only (financed before January 1 of the current year). Financing is available for up to 100% of selling price, including sales tax and license. Your interest rate will be determined by the amount financed, loan term, and your creditworthiness.
Representative Example: A $35,000, 84-month loan at 6.25% APR would require 83 payments of $514.97 with one final payment of $514.32.


Airplane, Used

Effective January 1, 2017

Amount Term APR
$5,000 - $49,999 72 months (max. 12 model years) 7.99% - 14.99%
$50,000 - $99,999 156 months (max. 9 model years) 8.24% - 15.24%
$100,000 - $200,000 180 months (max. 6 model years) 8.24% - 15.24%

Financing is available for up to 100% of Wholesale Guide or appraisal, whichever is less. Your interest rate will be determined by the amount financed, loan term, and your creditworthiness.
Representative Example: A $35,000, 72-month loan at 7.99% APR would require 71 payments of $613.54 with one final payment of $613.45.


NEW Jet Ski, ATV, Snowmobile, Neighborhood Electric Vehicle, Horse Trailer1

Effective January 1, 2017

Amount Term APR
$1,000 - $50,000 84 months 6.25% - 13.25%

Financing is available for up to 100% of selling price, including sales tax, license and GAP1 waiver ($395 Max). Your interest rate will be determined by the amount financed, loan term and your creditworthiness.
1 Horse Trailers are not eligible for GAP.
Representative Example: A $15,000, 84-month loan at 6.25% APR would require 83 payments of $220.70 with one final payment of $220.56.


Personal Loan

Effective January 1, 2017

Amount Term APR
Up to $25,000 60 months 7.99% - 13.90%

Unsecured personal loan limits are subject to Credit Union policies.
Representative Example: A $10,000, 60-month loan at 7.99% APR and 100% financing, would require 59 payments of $202.76 with one final payment of $202.35.


Line of Credit

Effective January 1, 2017

Amount Repayment Terms APR
Up to $25,000 $10 per $500 7.99% - 13.90%

Unsecured loan limits are subject to Credit Union loan policies.


Certificate Secured

Effective January 1, 2017

Limit Term Rate
80% Face value of certificate At certificate maturity Certificate rate + 3.00% APR

Loan amount is limited to 80% of face value of your certificate.
Representative Example: A $10,000, 120-month loan at 4.99% APR, would require 120 payments of $106.04 with one final payment of $105.25.


Share Secured

Effective January 1, 2017

Term APR
120 months 4.99%

Loan amount is limited to the amount deposited in the account.
Representative Example: A $10,000, 120-month loan at 4.99% APR that will secure the loan, would require 120 payments of $106.04 with one final payment of $105.25.


Computer

Effective January 1, 2017

Amount Term APR
$500 - $5,000 36 months 7.79%

Representative Example: A $3,000, 36-month loan at 7.79% APR would require 35 payments of $93.72 with one final payment of $93.66.


Educator

Effective January 1, 2017

Loan Limit Term APR
Administrator Credential Cost of program 48 months 5.90%
Classroom Supplies1 $500 10 months 0.00%
Educator Computer $500 - $5,000 36 months 6.90%
Teacher Certification2 $2,500 24 months 5.90%
Teacher Intern3 Cost of program 36 months 5.90%
Teacher Relocation4 $5,000 36 months 8.90%

1 Available to certificated employees only.
2 Available to certificated employees who qualify for the National Board for Professional Teaching Standards (NBPTS) test only.
3 Eligible participants work for an Office of Education within our field of membership and have been accepted into the program.
4 Available to certificated employees only. Must provide proof of a signed contract with a school in Schools’ field of membership.
Representative Example: A $3,000, 36 month loan at 6.90% APR would require 35 payments of $84.23 with one final payment of $83.92.
Contact the Credit Union to apply for an Administrator Credential Loan.

Home Loan Rates

APR = Annual Percentage Rate


Mortgage Loan Rates

Effective January 17, 2017

Schools Financial
rate as low as
4.28%
APR on a 30-year fixed mortgage

VS

Bank and Credit
Union average
4.43%
APR on a 30-year fixed mortgage

=

Savings
up to
$8,086
APR on a 30-year fixed mortgage

SAVE UP TO $8,086 on a 30-year mortgage vs. the Bank and Credit Union Average*

*$8,086 is the difference between the amount paid in interest between Schools Financial Credit Union’s rate of 4.28% APR compared to 4.43% APR for the Bank and Credit Union Average over the life of a $250,000 mortgage loan over 30 years. APR = Annual Percentage Rate. Schools Financial Credit Union rates outperform the Bank and Credit Union average as published weekly in The Sacramento Bee.

Term Rate APR Payment Amount (P&I)
30-year Fixed Rate Standard4.000%4.153%
30-year Fixed Rate No Points4.125%4.194%
20-year Fixed Rate Standard3.750%3.959%
20-year Fixed Rate No Points3.875%3.969%
15-year Fixed Rate Standard3.125%3.349%
15-year Fixed Rate No Points3.375%3.455%
10-year Fixed Rate Standard3.000%3.324%
10-year Fixed Rate No Points3.125%3.238%
 
5/1 Adjustable Rate (ARM) No Points3.375%3.600%
Hometown 97 10/1 Adjustable Rate (ARM) No Points14.000%3.924%
Hometown 97 7/1 Adjustable Rate (ARM) No Points23.875%3.808%
Hometown 97 5/1 Adjustable Rate (ARM) No Points33.750%3.734%
Jumbo 5/1 Adjustable Rate (ARM) Standard2.875%3.392%
Jumbo 5/1 Adjustable Rate (ARM) No Points3.125%3.400%
 
15-year Fixed Short-Term, Low-Rate No Points3.500%3.500%
10-year Fixed Short-Term, Low-Rate No Points3.375%3.375%
7-year Fixed Short-Term, Low-Rate No Points3.125%3.125%
5-year Fixed Short-Term, Low-Rate No Points3.250%3.250%
Rates quoted are for single family detached, owner occupied properties in California. Points, rates & APR are depend on your creditworthiness. Add-on fees may range from .125 points to 3.0 points or more depending on the loan characteristics. Minimum loan amount $50,000. Payment examples are based on an 80% LTV. PMI will be required if the financed amount is over 80%. Rates listed are for informational purposes only. Not all applicants will qualify for all rates. Loan amounts above $417,000 will be subject to the Jumbo 5/1 ARM rates. Property insurance required. Flood insurance required when applicable.
Fixed-rate payment examples based on a $250,000 fixed-rate loan with a 80% LTV. Estimated payment does not include taxes and insurance premiums, actual payment may be greater.
ARM payment example based on a $250,000, 30-year term at 80% LTV with one point. The rate is variable and is subject to change.
Short-Term, Low-Rate payment example based on $100,000.
1 The Hometown 97 5/1 ARM has a 0.375% premium over the standard 5/1 ARM.
2 The Hometown 97 7/1 ARM has a 0.125% premium over the Hometown 97 5/1 ARM.
3 The Hometown 97 10/1 ARM has a 0.125% premium over the Hometown 97 7/1 ARM.

Home Equity Loan Rates

Effective January 1, 2017

Term Loan Amount Maximum Loan-to-Value Rate APR1
48 $10,000 - $250,000 80%2 4.990% 4.990%
48 $10,000 - $100,000 90% 5.240% 5.240%
         
60 $10,000 - $250,000 80%2 5.240% 5.240%
60 $10,000 - $100,000 90% 5.490% 5.490%
         
84 $10,000 - $250,000 80%2 5.490% 5.490%
84 $10,000 - $100,000 90% 5.740% 5.740%
         
120 $10,000 - $250,000 80%2 5.740% 5.740%
120 $10,000 - $100,000 90% 5.990% 5.990%
         
180 $10,000 - $250,000 80%2 5.990% 5.990%
180 $10,000 - $100,000 90% 6.240% 6.240%

All loans are subject to credit approval and Credit Union policies and procedures. Other terms and conditions may apply. Equity loans are not allowed behind negatively amortizing first mortgage loans (including reverse mortgages) or first mortgages with a balloon. Equity loans must be in second lien position. Properties with no existing mortgage are ineligible for our equity loan product. If a Schools Equity Loan is currently in first lien position it cannot be refinanced. In this circumstance, an additional equity loan may be placed in second lien position. Members are limited to owner-occupied equity loans.
Loans paid off within three years of the date of the note will be subject to an early closure fee in the amount of $250. Plus title and escrow fees of up to $1,500 for loans with construction in progress. For loan amounts $100,000 and under, "no closing costs" are based on the property value being established using an Automated Valuation Model (AVM).
1 APR = Annual Percentage Rate.
2 Maximum LTV of 75% for 2-unit properties.

  • All loans are subject to a demand fee of up to $30 upon request for payoff.
  • A reconveyance fee of $45 plus the applicable county recording fee will be collected at payoff.
  • Property insurance is required. Flood insurance required when applicable.

Representative Example: A loan in the amount of $30,000, at an APR of 5.740% and a term of 120 months would have a payment of $328.71.



 

Home Equity Line of Credit Rates

Effective November 18, 2016

Schools Financial
rate as low as
4.24%
APR on 15-year variable rate HELOC

VS

Bank and Credit
Union average
6.33%
APR on 15-year variable rate HELOC

=

Savings
up to
$5,943
at the
lowest APR

SAVE UP TO $5,943 on a Home Equity Line of Credit for 15 years vs. the Bank and Credit Union Average*

*$5,943 is the difference between the amount paid in interest between Schools Financial Credit Union’s rate of 4.24% APR compared to 6.33% APR for the Bank and Credit Union Average over the life of a $30,000 HELOC over 15 years. APR = Annual Percentage Rate. Schools Financial Credit Union rates outperform the Bank and Credit Union average as published weekly in The Sacramento Bee.

Product Credit Limit APR Index Margin Maximum Rate Fees
HELOC I 80% LTV1,2,3,4 $5,000 - $99,999 4.24% 3.50% 0.74%7 17.00% $50 Annual Fee (waived first year)
HELOC I 80% LTV1,2,3,4 $100,000 - $250,000 3.99% 3.50% 0.49%8 17.00% $50 Annual Fee (waived first year)
HELOC II 80% LTV1,2,3,4 $5,000 - $99,999 4.24% 3.50% 0.74%7 10.24%10 $75 Annual Fee (waived first year)
$400 Documentation Fee
HELOC II 80% LTV1,2,3,4 $100,000 - $250,000 3.99% 3.50% 0.49%8 9.99%10 $75 Annual Fee (waived first year)
$400 Documentation Fee
HELOC NOO 70% LTV5,6 $10,000 - $49,900 5.50% 3.50% 2.00%9 17.75% $50 Annual Fee (waived first year)

APR = Annual Percentage Rate. The APR is variable. The APR is determined by adding the applicable “Margin” to the “Index” in effect on each APR Adjustment Date. The Index is the Prime Rate as published by the Wall Street Journal. HELOCs are not allowed behind negatively amortizing first mortgage loans (including reverse mortgages) or first mortgages with a balloon. Third party fees of up to $1,500 are waived unless you pay off your loan within the first three years. Plus, title and escrow fees of up to $1,500 for loans with construction in progress. For loan amounts $99,999 and under, “no closing costs” are based on the property value being established using an Automated Valuation Model (AVM).
 
1 All lines of credit are subject to credit approval and Credit Union policies and procedures. Other terms and conditions may apply. 
2 Initial draw period of 10 years, with an additional 15-year repayment term. 
3 Members may have only one Owner-Occupied HELOC open at any time.
4 Maximum LTV of 75% for two-unit properties
5 Initial draw period of 10 years with an additional 12-year repayment term.
6 Maximum LTV of 65% for two-unit properties
7 Final APR and Margin are based on creditworthiness and loan to value (LTV). Margin ranges from 0.74% - 1.74%, based on FICO and LTV.
8 Final APR and Margin are based on creditworthiness and loan to value (LTV). Margin ranges from 0.49% - 1.49%, based on FICO and LTV.
9 Final APR and Margin are based on creditworthiness and loan to value (LTV). Margin ranges from 2.00% - 3.00%, based on FICO and LTV.
10 The maximum rate is 6% over the rate in effect the day your loan documents are drawn.

 

  • All loans are subject to a demand fee of up to $30 upon request for payoff.
  • A reconveyance fee of $45 plus the applicable county recording fee will be collected at payoff. 
  • Property insurance is required. Flood insurance required when applicable.