Rates and Service Charge Schedules

Rates are subject to change at any time.  To view our daily rates, please scroll down or select from the below list:

• Deposit Rates
  
• Mortgage and Home Equity Rates
  
• Credit Card Rates
  
• Vehicle Loan Rates
  
• Personal Loan Rates
  
• Student Loan Rates
  

Our Rates & Service Charges Disclosure - Business and Consumer

Deposit Rates

Certificates (also available for IRAs)

Rates effective as of 8/28/23

*APY = Annual Percentage Yield.  

**New Money Only

Explanation of Rates & Service Charges

As explained in the MSA, the “Our Rates & Service Charges” disclosure applies to all the accounts we offer. Except as specifically described, the following terms apply to all of the accounts you have with us.

1. Rate Information

The Dividend Rate and Annual Percentage Yield on the accounts you have with us are identified above. For all accounts except certificates, the Dividend Rate and Annual Percentage Yield may change monthly as determined by the Board of Directors.

Premium Money Market Accounts are Tiered Rate Accounts. For these accounts, if the balance is within a particular tier, the Dividend Rate and Annual Percentage Yield specified for that tier will apply to the full balance in the account.

The Dividend Rates and Annual Percentage Yields shown in the table above are the prospective rates as of the effective date shown above. For Certificate Accounts, the Dividend Rate and Annual Percentage Yield are fixed and will be in effect for the term of the account. For Certificate Accounts, the Annual Percentage Yield is based on an assumption that dividends will remain on deposit until maturity. A withdrawal of dividends will reduce earnings.

2. Nature of Dividends

Dividends are paid from current income and available earnings after required transfers to reserves at the end of a dividend period.

3. Compounding and Crediting

Dividends will be compounded and credited as identified above. For dividend bearing accounts, the Dividend Period begins on the first calendar day of the period and ends on the last calendar day of the period.

4. Accrual of Dividends

Dividends will begin to accrue on noncash deposits (e.g., checks) on the business day you make the deposit to an account you have with us. If you terminate the account before accrued dividends are credited, accrued dividends will not be paid.

5. Balance Information

The minimum balance required to start each account and earn the stated Annual Percentage Yield is identified above. If you do not maintain the minimum balance, you will not earn the stated Annual Percentage Yield.

For all accounts except share certificates, dividends are calculated by using the Average Daily Balance method, which applies a periodic rate to the Average Daily Balance for the period. To obtain the Average Daily Balance for the period, we add up the ending balance in the account for each day in the period, and divide the total by the number of days in the period. For share certificates, dividends are calculated by using the Daily Balance Method, which applies a daily periodic rate to the balance in the account each day.

6. Account Limitations

For Premium Money Market accounts, you may not make more than one (1) covered transaction per month. For Maxi Money Market accounts, you may not make more than three (3) covered transactions per month. Covered transactions include your checks, transfers initiated through online banking or mobile banking, ACH transfers, merchant point of sale transactions, preauthorized or automatic transfers, and overdraft protection transfers. The date we use to determine the number of transactions is the date a transaction is posted to (actually credited to or debited from) an account, rather than the date you initiate the transaction. If you exceed this limit, we may refuse or reverse the transaction, and we may impose a charge as specified in the listing of service charges provided below. If you repeatedly exceed this limit, we may terminate the account.

7. Certificate Account Features

a) Account Limitations

Except for Future Investor Certificates, after you start the account, you may not make additional deposits to a Certificate Account. For Future Investor Certificates, you may make additional deposits in increments of $100.00 or more.

b) Maturity

The Certificate Account you have with us will mature on the maturity date identified on your Account Receipt or Renewal Notice.

c) Early Withdrawal Penalty

We may impose a penalty if you withdraw any of the principal of the Certificate Account before the maturity date.

1) Amount of Penalty. The amount of the penalty is based on the term of your certificate account. For account terms of 12 months or less, the penalty is equal to three months’ dividends on the amount withdrawn. For account terms of more than 12 months, the penalty is equal to six months’ dividends on the amount withdrawn.

2) How the Penalty Works. The penalty is calculated is as a forfeiture of dividends that have been or would be earned on the amount withdrawn.  If the account has not yet earned enough dividends or if dividends have previously been withdrawn, the penalty will be deducted from the principal balance.

3) Exceptions to Early Withdrawal Penalties. At our option, we may pay the account before maturity without imposing an early withdrawal penalty under the following circumstances: when an owner on an account dies or is determined legally incompetent by a court or other body of competent jurisdiction. Where the account is an Individual Retirement Account (IRA) and any portion is paid within seven (7) days after establishment or where the account is an IRA and the owner attains age 59½ or becomes disabled and begins making periodic withdrawals.

d) Renewal Policy

Certificate Accounts are automatically renewable accounts. Automatically renewable accounts will renew for another term upon maturity. You have a grace period of ten (10) days after maturity in which to withdraw funds in the account without being charged an early withdrawal penalty. For Future Investor accounts, if the member has reached the age of eighteen (18) by the time the certificate matures, the funds in the account will transferred to a regular certificate account upon maturity. If the term of your certificate is not available at the time of renewal, your certificate will renew at the next longest term available.

e) Nontransferable/Nonnegotiable

The account(s) you have with us is/are nontransferable and nonnegotiable. This means that an account and the funds in the account may not be pledged to secure any obligation of an owner, except obligations with the Credit Union.

Mortgage and Home Equity Rates

Adjustable Rate Mortgages

Rates effective as 9/21/2023

Save an extra .25% on your adjustable mortgage rate by having a Premium Checking account when purchasing a primary residence. (Does not apply to 15/5 ARM program.)

	ARM	Loan to Value	Rate	APR	Est. Payment	More Information
	15/5 ARM*	≤ 75%	7.365 %	7.305 %	Calculate
	Additional Information
	The 15/5 Adjustable Rate Mortgage offers a fixed APR of 7.305 % for the first 15 years then adjusts to a new rate every 5 years. Term: Available for terms up to 40 years. Rate caps: 2% per adjustment and 5% over the initial rate for the life of the loan. Benefits: Central One's ARMs often have lower down payment requirements, lower initial monthly payments and lower initial APRs than a 30 year fixed rate. Calculate your monthly payment using the ARM Mortgage Calculator Prior to applying, please make sure your credit is not frozen by the credit reporting agencies or we will not be able to process your application. Begin the Application Process
		> 75%	7.615 %	7.553 %	Calculate
	10/5 ARM	≤ 75%	6.615 %	6.637 %	Calculate
		> 75%	6.865 %	6.884 %	Calculate
	Additional Information
	The 10/5 Adjustable Rate Mortgage offers a fixed APR of 6.884 %for the first 10 years then adjusts to a new rate every 5 years. Term: Available for terms up to 30 years. Rate caps: 2% per adjustment and 5% over the initial rate for the life of the loan. Benefits: Central One's ARMs often have lower down payment requirements, lower initial monthly payments and lower initial APRs than a 30 year fixed rate. Calculate your monthly payment using the ARM Mortgage Calculator Prior to applying, please make sure your credit is not frozen by the credit reporting agencies or we will not be able to process your application. Begin the Application Process
	5/1 ARM	≤ 75%	6.365 %	7.097 %	Calculate
	Additional Information
	The 5/1 Adjustable Rate Mortgage offers a fixed APR of 7.097 %for the first 5 years then adjusts to a new rate every 1 years. Term: Available for terms up to 30 years. Rate caps: 2% per adjustment and 5% over the initial rate for the life of the loan. Benefits: Central One's ARMs often have lower down payment requirements, lower initial monthly payments and lower initial APRs than a 30 year fixed rate. Calculate your monthly payment using the ARM Mortgage Calculator Prior to applying, please make sure your credit is not frozen by the credit reporting agencies or we will not be able to process your application. Begin the Application Process
		> 75%	6.615 %	7.339 %	Calculate
	Additional Information
	The 5/1 Adjustable Rate Mortgage offers a fixed APR of 7.339 %for the first 5 years then adjusts to a new rate every 1 years. Term: Available for terms up to 30 years. Rate caps: 2% per adjustment and 5% over the initial rate for the life of the loan. Benefits: Central One's ARMs often have lower down payment requirements, lower initial monthly payments and lower initial APRs than a 30 year fixed rate. Calculate your monthly payment using the ARM Mortgage Calculator Prior to applying, please make sure your credit is not frozen by the credit reporting agencies or we will not be able to process your application. Begin the Application Process
	3/3 ARM	≤ 75%	6.115 %	6.644 %	Calculate
	Additional Information
	The 3/3 Adjustable Rate Mortgage offers a fixed APR of 6.644 %for the first 3 years then adjusts to a new rate every 3 years. Term: Available for terms up to 30 years. Rate caps: 2% per adjustment and 5% over the initial rate for the life of the loan. Benefits: Central One's ARMs often have lower down payment requirements, lower initial monthly payments and lower initial APRs than a 30 year fixed rate. Calculate your monthly payment using the ARM Mortgage Calculator Prior to applying, please make sure your credit is not frozen by the credit reporting agencies or we will not be able to process your application. Begin the Application Process
		> 75%	6.365 %	6.889 %	Calculate
	Additional Information
	The 3/3 Adjustable Rate Mortgage offers a fixed APR of 6.889 %for the first 3 years then adjusts to a new rate every 3 years. Term: Available for terms up to 30 years. Rate caps: 2% per adjustment and 5% over the initial rate for the life of the loan. Benefits: Central One's ARMs often have lower down payment requirements, lower initial monthly payments and lower initial APRs than a 30 year fixed rate. Calculate your monthly payment using the ARM Mortgage Calculator Prior to applying, please make sure your credit is not frozen by the credit reporting agencies or we will not be able to process your application. Begin the Application Process
	1/1 ARM	≤ 75%	5.865 %	7.398 %	Calculate
	Additional Information
	The 1/1 Adjustable Rate Mortgage offers a fixed APR of 7.398 %for the first 1 years then adjusts to a new rate every 1 years. Term: Available for terms up to 30 years. Rate caps: 2% per adjustment and 5% over the initial rate for the life of the loan. Benefits: Central One's ARMs often have lower down payment requirements, lower initial monthly payments and lower initial APRs than a 30 year fixed rate. Calculate your monthly payment using the ARM Mortgage Calculator Prior to applying, please make sure your credit is not frozen by the credit reporting agencies or we will not be able to process your application. Begin the Application Process
		> 75%	6.115 %	7.643 %	Calculate
	Additional Information
	The 1/1 Adjustable Rate Mortgage offers a fixed APR of 7.643 %for the first 1 years then adjusts to a new rate every 1 years. Term: Available for terms up to 30 years. Rate caps: 2% per adjustment and 5% over the initial rate for the life of the loan. Benefits: Central One's ARMs often have lower down payment requirements, lower initial monthly payments and lower initial APRs than a 30 year fixed rate. Calculate your monthly payment using the ARM Mortgage Calculator Prior to applying, please make sure your credit is not frozen by the credit reporting agencies or we will not be able to process your application. Begin the Application Process

* 15/5 ARM available for first time home buyers only.

**No Closing Cost program has a minimum loan amount of $125,000. Available on owner-occupied homes only. Other restrictions may apply. All loan programs, rates, terms and conditions are subject to change. Call a lending specialist at 800-527-1017 for more information. 

Adjustable Rate Mortgage (ARM) Disclosure: Jumbo mortgages add 0.375% to the stated rate. Rates are subject to change without notice. Rates listed include 0.25% discount for Direct Deposit and Electronic Loan Payment when the payment is taken from a Central One account. Actual rate will be determined based on credit history, term, loan to value and other factors. Other restrictions may apply. All loan programs, rates, terms and conditions are subject to change. Call a lending specialist at 800-527-1017 for more information. 

Fixed Rate Mortgage Disclosure: Published rates are based on purchase transactions with 25% down and a credit score of 740. Jumbo mortgages add 0.375% to the stated rate. Rates are subject to change without notice. Actual rate will be determined based on credit history, term, loan to value and other factors. Other restrictions may apply. All loan programs, rates, terms and conditions are subject to change. Call a lending specialist at 800-527-1017 for more information. 

MyChoice Mortgage Refinance Disclosure: First position mortgage only. Property must be owner-occupied. Must have a 720 credit score or higher to qualify. Rates listed include a 0.25% discount for Direct Deposit and Electronic Loan Payment and an additional 0.25% discount when deducted from a Central One Premium Checking account. Appraisal is needed for any loan to value over 70% of assessed, or any loan amount over $400,000, max loan to value is 80% of appraised value. If you live outside of Worcester County, additional Appraisal and Title Search Fees may apply. Actual rate will be determined based on credit history, term, loan to value and other factors. Other restrictions may apply. All loan programs, rates, terms and conditions are subject to change. Call a lending specialist at 800-527-1017 for more information. 

Construction/Renovation Disclosure: Loan limits apply: Single Family Home = $417,000; 2 Family Home = $533,850; 3 Family Home = $645,300; 4 Family Home = $801,950. Actual rate will be determined based on credit history, term, loan to value and other factors. Other restrictions may apply. All loan programs, rates, terms and conditions are subject to change. Call a lending specialist at 800-527-1017 for more information. 

Home Equity Line of Credit (HELOC) Disclosure: Variable interest rate as low as Prime minus 1%. Floor rate is 3.25% APR. The Prime Rate is published by the Wall Street Journal; the current Prime rate can be found at the WSJ website. Rate adjustment occurs once per year on the 15th of the month of account anniversary. Max APR is 17.5%. Actual rate will be determined based on credit history, term, loan to value and other factors. Home must be owner-occupied or second home. Borrow up to 80% of the appraised value of your home less first mortgage balance or 70% of the tax-assessment value less first mortgage balance. Credit score of 660+ required. Other loan to value options available for credit scores below 660. Only pay interest on the funds you borrow.  Minimum line amount of $7,500. Flexible payment terms of up to 30 years. Interest may be tax deductible (consult your tax advisor). No closing costs for properties within Worcester County with loans of $400,000 or less (except appraisal and title search if required).  Any loan amount over $250,000 will require an appraisal. Title search fees may apply for properties outside of Worcester County or properties obtained through a foreclosure deed. Property and flood insurance may be required. Other restrictions may apply. All loan programs, rates, terms and conditions are subject to change. Call a lending specialist at 800-527-1017 for more information. 

100% Home Equity Line of Credit (HELOC) Disclosure: Variable interest rate as low as Prime plus 1%. Floor rate is 3.25% APR. The Prime Rate is published by the Wall Street Journal; the current Prime rate can be found at the WSJ website. Rate adjustment occurs once per year on the 15th of the month of account anniversary. Max APR is 17.5%. Actual rate will be determined based on credit history, term, loan to value and other factors. Home must be owner-occupied or second home. Borrow up to 100% of the appraised value of your home less first mortgage balance or 70% of the tax-assessment value less first mortgage balance. Only pay interest on the funds you borrow. Minimum line amount of $7,500. Flexible payment terms of up to 30 years. Interest may be tax deductible (consult your tax advisor). No closing costs for properties within Worcester County with loans of $250,000 or less (except appraisal and title search if required). Title search fees may apply for properties outside of Worcester County or properties obtained through a foreclosure deed. Property and flood insurance may be required. Minimum credit score of 660. Other restrictions may apply. All loan programs, rates, terms and conditions are subject to change. Call a lending specialist at 800-527-1017 for more information.

Investment Interest Home Equity Line of Credit (HELOC) Disclosures: ¹ Variable interest rate as low as Prime plus 1%.  Floor rate is 3.25% APR. The Prime Rate is published by the Wall Street Journal; the current Prime rate can be found at the WSJ website. Rate adjustment occurs once per year on the 15th of the month of account anniversary. Max APR is 17.5%. Actual rate will be determined based on credit history, term, loan to value and other factors. Minimum line amount of $7,500.  Interest may be tax deductible (consult your tax advisor).² Investment property must be 1-4 family homes or condos. No commercial retail property.  Borrow up to 80% of the appraised value of your home less first mortgage balance or 70% of the tax-assessment value less first mortgage balance. Credit score of 660+ required. Other loan to value options available for credit scores below 660. Only pay interest on the funds you borrow.  Other restrictions may apply. All loan programs, rates, terms and conditions are subject to change. Call a lending specialist at 800-527-1017 for more information.

Home Equity Loan Disclosure: Home Equity Loan rates listed include a 0.25% discount for Direct Deposit and Electronic Loan Payment and an additional 0.25% discount when deducted from a Central One Premium Checking account. Central One pays closing costs for properties within Worcester County, except appraisal and title search (if required). Appraisal required if LTV of the new loan is greater than 70% of Tax Assessment Value or 80% based on an appraisal. Credit score of 660+ required. Other loan to value options available for credit scores below 660. If you live outside of Worcester County, additional Appraisal Fees and Title Search Fees may apply. Actual rate will be determined based on credit history, term, loan to value and other factors. Property and flood insurance may be required. Other restrictions may apply. All loan programs, rates, terms and conditions are subject to change. Call a lending specialist at 800-527-1017 for more information.

Deeds: Deeds with life estates are not eligible for financing. Foreclosure deeds may incur additional costs.

Credit Cards

Credit Card Disclosure: Rate and approval subject to creditworthiness. APRs are variable, adjust with Prime, and are capped at 17.5%. See application for full details. 

Cash Rewards Additional Disclosure: Earn cash rewards of 1% on all new net purchases (qualifying purchases less credits, returns, and adjustments) charged to the card each billing cycle. Balance Transfers, Cash Advances, including purchases of money orders or other cash equivalents, purchases made by or for a business purpose, fees, interest charges, unauthorized/fraudulent transactions and certain other charges do not earn cash rewards. Cash rewards cannot be redeemed if your account is not in good standing and will be forfeited upon account closure. Cash rewards shall be automatically paid quarterly on or around the credit card cycle date in February, May, August and November according to the account hierarchy checking, savings or credit card principal balance. Cash rewards may be requested off-cycle on an exception-only basis, but the rewards balance must be $25 or greater and a $10 redemption fee will be imposed. Cash rewards may not be combined with other discount or reward programs, unless specifically authorized by Central One Federal Credit Union. Other significant terms apply. Program subject to change and may be canceled at any time without notice. For more information, visit www.centralfcu.com or call 1-800-527-1017.

Vehicle Loans

New and Used Auto Loan Disclosure:  Copy of purchase and sale agreement required. Rate may be adjusted for vehicle age or high mileage vehicles. Qualified borrowers with A+ or A credit may borrow up to 120% of the NADA retail value.  Stated rate assumes term of 24 months and LTV under 75%, includes a 0.25% discount for Direct Deposit and Electronic Loan Payment and an additional 0.25% discount when deducted from a Central One Premium Checking account. Actual rate will be determined based on credit history, term, loan to value, and other factors. Call a lending specialist at 800-527-1017 for more information.

Auto Refinance Disclosure:   Stated rate assumes term of 24 months and LTV under 75%, includes a 0.25% discount for Direct Deposit and Electronic Loan Payment and an additional 0.25% discount when deducted from a Central One Premium Checking account.  Actual rate will be determined based on credit history, term, loan to value, and other factors. Call a lending specialist at 800-527-1017 for more information.

MAP Disclosure: Any vehicle with MSRP over $75,000.00 and a residual value of $20,000.00 or more will have a surcharge added to the loan.

Stated rate assumes term of 24 months and LTV under 75%, includes a 0.25% discount for Direct Deposit and Electronic Loan Payment and an additional 0.25% discount when deducted from a Central One Premium Checking account.  Actual rate will be determined based on credit history, term, loan to value, and other factors. Call a lending specialist at 800-527-1017 for more information.

Motorcycle Disclosure: Copy of purchase and sale agreement required. Rate may be adjusted for vehicle age or high mileage vehicles. Qualified borrowers with A+ or A credit may borrow up to 100% of the NADA retail value on motorcycle loans. Stated rate assumes LTV under 65%, includes a 0.25% discount for Direct Deposit and Electronic Loan Payment and an additional 0.25% discount when deducted from a Central One Premium Checking account. Actual rate will be determined based on credit history, term, loan to value and other factors. Call a lending specialist at 800-527-1017 for more information. 

RV and Boat Disclosure: Copy of purchase and sale agreement required. Rate may be adjusted for vehicle age or high mileage vehicles. Qualified borrowers with A+ or A credit may borrow up to 100% of the NADA retail value on Boat/RV loans. Stated rate assumes LTV under 65%, includes a 0.25% discount for Direct Deposit and Electronic Loan Payment and an additional 0.25% discount when deducted from a Central One Premium Checking account. Actual rate will be determined based on credit history, term, loan to value and other factors. Call a lending specialist at 800-527-1017 for more information. 

Personal Loans

Student Loans