RATES
SAVINGS RATES
Rates shown are current as of December 4th, 2023, and are subject to change. Minimum balances indicated are required to earn Annual Percentage Yield (APY). Fees may reduce earnings on the accounts. Dividend Calculation Method: Average Daily Balance, Compounded Monthly. Contact us for details.
REGULAR SHARE SAVINGS
| Amount (Minimum balance to open $5) | Dividend Rate | APY |
|---|---|---|
| $0 - $50 | 0% | 0% |
| $50+ | .05% | .05% |
MONEY MARKET1
| Amount (Minimum balance $500) | Dividend Rate | APY |
|---|---|---|
| $500-$1,999 | .60% | .60% |
| $2,000 - $9,999 | .75% | .75% |
| $10,000 - $19,999 | .90% | .90% |
| $20,000 - $39,999 | 1.10% | 1.10% |
| $40,000 - $74,999 | 1.15% | 1.15% |
| $75,000 - $99,999 | 1.40% | 1.40% |
| $100,000 and over | 1.50% | 1.50% |
IRA SHARE SAVINGS ACCOUNTS
| Amount (Min balance to open: $0) | Dividend Rate | APY |
|---|---|---|
| $0 - $25 | 0% | 0% |
| $25+ | .30% | .30% |
BASIC CHECKING
| Amount (No minimum balance) | Dividend Rate | APY |
|---|---|---|
| No minimum balance | 0% | 0% |
REWARD CHECKING2
| Amount (With basic requirements) | Dividend Rate | APY |
|---|---|---|
| $0 - $20,000 | 3.25% | 3.25% |
| $20,000 + | .20% | .20% |
JOURNEY SAVINGS YOUTH
| Amount (No minimum balance) | Dividend Rate | APY |
|---|---|---|
| $0 - $1,000 | 3.00% | 3.00% |
| $1,000 + | .05% | .05% |
HOLIDAY SAVINGS CLUB
| Amount (Minimum balance to open $5) | Dividend Rate | APY |
|---|---|---|
| $0 - $50 | 0% | 0% |
| $50+ | .05% | .05% |
SHARE AND IRA CERTIFICATES3
| Term (Minimum balance $500) | Dividend Rate | APY |
|---|---|---|
| 6 month certificate | 3.97% | 4.03% |
| 1 year certificate | 3.46% | 3.51% |
| 2 year certificate | 3.01% | 3.05% |
| 3 year certificate | 2.87% | 2.91% |
| 4 year certificate | 2.87% | 2.91% |
| 5 year certificate | 2.81% | 2.84% |
Dividend Period: With the exception of Money Market Accounts, dividend payment postings for Shares/Share Certificates/IRAs/Club Accounts will be paid on the last day of each quarter.
Money Market Draft Account (MMDA): Dividend will be paid on the last day of the month. The balance computation method for all Money Market dividend-bearing accounts will be the Average Daily Balance method, which applies a periodic rate to the average daily balance in the account for the period. The average daily balance is calculated by adding the balance in the account for each day of the period and dividing that figure by the number of days in the period.
Share Certificates Transaction Grace Period: For a period of 10 days from the Share Certificate renewal date, a member may make changes or withdraw funds without being charged a penalty.
1 Money Market accounts are limited transaction accounts. Exceeding transaction limits may result in a fee.
2 Basic Requirements Per Month: 15 POS debit card transactions, receive eStatements and use of Internet/Mobile Home Banking. If requirements are not met each month, the APY is .05%.
3 Certificates can be opened for Individual Retirement Accounts and Coverdell Education Savings Accounts. A penalty may be imposed for early withdrawal.
Share Account Truth in Savings DisclosureLOAN RATES
Rates are effective as of December 4th, 2023 and are subject to change. Loan approval and processing is based on standard loan underwriting guidelines. Not all applicants will qualify for the lowest rate. Program fees, rates and features are subject to change.
AUTO LOANS1
| Term | Rate |
|---|---|
| 0-65 months | Rates starting at 5.25% |
| 66-88 months | Rates starting at 6.54% |
| 89-96 months | Rates starting at 7.24% |
PERSONAL LOANS2
| Credit Range | 0-36 months | 37-48 months | 49-60 months | 61-72 months |
|---|---|---|---|---|
| Excellent No past credit issues | 7.49% | 8.35% | 9.15% | 11.49% |
| Good No recent credit issues | 8.24% | 9.00% | 11.10% | 12.49% |
| Ok Had some issues in the past | 10.64% | 12.64% | 13.64% | 14.64% |
| Needs some improvement | 13.64% | 15.64% | 16.64% | 17.64% |
| Multiple credit issues... but we'll try to work with you | 16.64% | 17.64% | NA | NA |
REVOLVING LOANS
| Credit Range | Mastercard Credit Card |
|---|---|
| Excellent No past credit issues | 8.99% |
| Good No recent credit issues | 10.99% |
| OK. Had some issues in the past | 12.99% |
| Needs some improvement | 17.99% |
INTEREST ONLY HELOC³
| Credit Tier | <80% CLTV | 80.01 - 90% CLTV | 90.01 - 95% CLTV |
|---|---|---|---|
| Excellent No past credit issues | Prime -.25% | Prime + .25% | Prime + .75% |
| Good No recent credit issues | Prime + 0% | Prime + 1.00% | Prime + 2.00% |
| OK Had some issues in the past | Prime + 1.25% | Prime + 2.00% | NA |
| Needs some improvement | Prime + 2.50% | NA | NA |
5 Year Adjustable HELOC3
| Credit Tier | <80% CLTV | 80.01 - 90% CLTV | 90.01 - 95% CLTV |
|---|---|---|---|
| Excellent No past credit issues | Prime + .5% | Prime + 1% | Prime + 1.5% |
| Good No recent credit issues | Prime + 1% | Prime + 2% | Prime + 3% |
| OK Had some issues in the past | Prime + 1.50% | Prime + 2.50% | Prime + 3.50% |
| Needs some improvement | Prime + 2.00% | NA | NA |
SHARE SECURE
| Share Rate + 2% |
STRETCH PAY4
| Rate | Loan Amount | Annual Enrollment Fee |
|---|---|---|
| 18% | $350 | $35 |
| 18% | $500 | $70 |
| 18% | $750 | $120 |
FIRST MORTGAGE
| Click for daily mortgage rates or call (800) 231-8855 |
Annual Percentage Rate (APR) shown are for members with excellent credit and may reflect rate discounts for additional credit union services. Your APR may be higher and is determined by our normal underwriting guidelines.
¹ For borrowers with excellent credit a 60-month vehicle loan of $20,000 at 5.25% APR would have 60 monthly payments of $380. Your rate and payment may vary. Approvals based on credit and vehicle condition. Any discounts given by the credit union will not bring the rate below our floor rate of 5.25%. Refi’s mirror term and cosigners of current loan. Eligible model years 2015-2023, maximum LTV restrictions may apply based on MSRP of new vehicles and the NADA retail value of used vehicles. Collateral insurance required for life of loan.
² The credit union reserves the right to cross-collateralize these types of loans through the loan agreement.
³Prime Rate as published in the Wall Street Journal the first business day of each month. July 1, 2023, the Prime Rate is 8.50%. Not all applicants will qualify for this rate. Annual Percentage Rates are based on applicant’s credit and our underwriting standards, which may include discounts for additional credit union services. APRs subject to change based on Prime with a minimum rate of 3.00% and maximum of 18%. The cost of an appraisal normally ranges from $170-$600 is paid by the member whether or not the loan closes, if an appraisal is required. Borrower is responsible for remainder of closing costs which generally range between $175-$2250, any taxes and insurance. Property insurance required; flood insurance may be required. Program fees, rates and features subject to change without notice. Payment examples: 5-year Adjustable HELOC balance $50,000 payment $500 monthly. Interest only HELOC for $50,000 at 8.50% the payment during the draw period is $361. All loans are subject to credit approval and membership eligibility. Minimum loan amount is $20,000. A home equity line of credit is by secured by a 1st or 2nd lien on your residential property located in Maryland, DC and Virginia only. Consult a tax advisor regarding the deductibility of interest. Other terms and restrictions may apply. Please email [email protected] or call (202) 789-2901, option 3 for additional details. Labor CU is an Equal Opportunity Lender.
4Certain restrictions apply. To qualify, you must be a member of Labor CU for at least 120 days, have direct deposit of income, have no delinquent Labor CU accounts, and not be in the process of filing for bankruptcy. Finance charges on a 30-day $500 StretchPay loan are $7.40. Loan fee for commercial payday lender charging $15 per $100 borrowed is $150 for $500 borrowed over two 14-day terms. Advances must be paid in full prior to additional advances.
Mastercard Application and solicitation disclosureMastercard and the Mastercard Brand Mark are registered trademarks of Mastercard International Incorporated.