You specify the time you need the loan on your application. All loans are written with defined monthly pay back covering principal and interest. 122 W. Franklin Ave., Mp1s., MN 55401. A computer printout of the payment indicating amount credited to principal and interest showing remaining balance will be mailed, or delivered to the member the day the payment is entered into the computer. The interest rate at which a member may borrow money is established at the time the loan is made and depends upon the collateral provided to cover the loan.
Most favorable rates are available to members who can collateralize a loan with shares on deposit.
Auto loan rates fluctuate with the market. Rates vary with the duration of the loan. A current list of rates is provided for the member when procuring the application for a loan. Your Minnesota United Methodist Federal Credit Union rates are competitive and usually somewhat lower than rates at other loan institutions.