Loan Rates
We're committed to keeping a tight lid on borrowing costs.
Our aim is to fill this page with the smallest numbers possible. After all, lower loan rates keep your interest charges down and monthly payments under control.
Buy a home. Finance a car. Cover college costs. And much more. Summit Credit Union loans make many of life's milestones possible.
Auto Loans
| Term | Rate Type | Rates as Low as | Annual Percentage Rate** (APR) |
|---|---|---|---|
| Up to 48 Months | Fixed | 3.50% | 3.50% |
| 49 to 72 Months | Fixed | 3.75% | 3.75% |
| 73 to 96 Months | Fixed | 4.75% | 4.75% |
New or used, same low rate; Auto financed for 96 months at 4.75% APR would have a payment of approximately $12.54 per $1,000 borrowed.
Motorcycle/Boat/RV Loans
| Term | Rate Type | Rates as Low as | Annual Percentage Rate** (APR) |
|---|---|---|---|
| Up to 48 Months | Fixed | 4.50% | 4.50% |
| 49 to 72 Months | Fixed | 4.75% | 4.75% |
| 73 to 96 Months | Fixed | 5.75% | 5.75% |
New or used, same low rate; Auto financed for 96 months at 5.45% APR would have a payment of approximately $13.02 per $1,000 borrowed.
Home Loans
Purchase or refinance, fixed- and variable-rate home loans are available. Rates may change daily. If you have questions about the home loan process, credit requirements, down payment needed, etc. feel free to call our Home Loan Center at 336-662-6206 or 877-223-9563. Our home loan specialists will take time to find the option that fits you best and will guide you step-by-step through the entire loan process.
| Loan Type | Rate Type | Term | Rate as Low as |
|---|---|---|---|
| Home Loan, 15-year | Fixed | 180 | 5.500% |
| Home Loan, 30-year | Fixed | 360 | 6.375% |
Home Loan rates are subject to change and based on an excellent credit history and 90% combined loan-to-value (LTV) ratio; your rate could differ. Last updated on 2022-06-16.
Home Equity Line of Credit and Home Equity Loans
| Loan Type | Rate Type | Term | Rate as Low as | Annual Percentage Rate** (APR) |
|---|---|---|---|---|
| Home Equity Loan (1st position) | Fixed | 120 | 3.75% | 3.75% |
| Home Equity Loan (2nd position) | Fixed | 120 | 4.75% | 4.75% |
| Home Equity Line of Credit | Variable | 180 | 5.00% | 5.00% |
Home Equity Lines of Credit rates are based on an evaluation of credit history and LTV (combined loan-to-value ratio), so your rate may differ. Home Equity Lines of Credit are available for primary residences, second homes, and investment properties. Variable APR applies; payments or term may change.
Fixed Home Equity rates are based on an evaluation of credit history and LTV (loan-to-value) ratio. Fixed Equity Loans are available for primary residences, second homes, and investment properties. A sample loan payment based on $30,000 at 3.50% APR for 10 years is $297. Closing costs may occur based on offer, property location, and Equity Loan amount.
Visa® Credit Cards
| Loan Type | Rate Type | Rate as Low as | Annual Percentage Rate** (APR) |
|---|---|---|---|
| Visa® Platinum | Non-Variable | 8.95% | 8.95% |
| Visa® Platinum Rewards | Non-Variable | 9.95% | 9.95% |
Repayment terms of 2% of outstanding balance or $25, whichever is greater. Variable APRs apply to purchases, balance transfers, and cash advance transactions.
Transaction Fees: ATM Cash Advance - None if performed at a Summit Credit Union branch or network ATMs. Otherwise, transactions may be subject to a $1.00 fee plus any fees accessed by non-network ATMs. No fee assessed if balance exceeds limit.
Personal Loan
| Loan Type | Rate Type | Term | Rate as Low as | Annual Percentage Rate** (APR) |
|---|---|---|---|---|
| Line of Credit | Fixed | Up to 60 months | 10.95% | 10.95% |
| Installment | Fixed | Up to 60 months | 11.95% | 11.95% |
| Club Loans | Fixed | Up to 10 months | 11.95% | 11.95% |
| Emergency Loans | Fixed | Up to 90 days | 17.95% | 17.95% |
| Share Secured Loans | Fixed | Up to 60 months | 4.00% | 4.00% |
Credit Builder Loans
| Loan Type | Type | Term | Rate as Low as | Annual Percentage Rate** (APR) |
|---|---|---|---|---|
| Credit Builder Loan | Fixed | Up to 60 months | 9.50% | 9.50% |
| Credit Builder Visa® Credit Card | Secured | Revolving Line | 16.95% | 16.95% |
Summit Credit Union is a full-service financial institution with eight branches throughout North Carolina.
Frequently Asked Questions
Current employees of any of our business partners and their immediate family are able to join. To become a member, you must open a new Savings account by depositing at least $5. Opening a Savings account is fast and easy.
We have eight branches across North Carolina with locations in Greensboro, Hickory, High Point, Oxford, Raleigh, and Winston-Salem.
Related Resources
Banking Where You Need It
Bank from anywhere, anytime. Digital Banking is available to members 24/7.
* APY = Annual Percentage Yield.
** APR = Annual Percentage Rate. Rates are based on an evaluation of credit history, so your rate may differ.
Last updated on 6/26/2022. Rates are subject to change.