Deposit Rates

Share Certificates
Term of CertificateRateAPYMinimum
6 Months 0.15% 0.15% $1,000.00
6 Month Youth CD 0.15% 0.15% $250.00
9 Months 0.20% 0.20% $1,000.00
9 Months Jumbo 0.20% 0.20% $5,000.00
9 Months Super Jumbo 0.20% 0.20% $25,000.00
12 Months 0.30% 0.30% $1,000.00
18 Months 0.40% 0.40% $1,000.00
24 Months 0.40% 0.40% $1,000.00
36 Months 0.50% 0.50% $1,000.00
60 Months 0.75% 0.75% $1,000.00
Dividends are paid quarterly and calculated on average daily balance. Rates are effective as of August 24, 2020, and are subject to change at any time without notice.

Savings/Club Accounts/IRA (Traditional & Roth)
Share TypeRateAPY
Regular Shares3 0.05% 0.05%
Youth Shares 0.05% 0.05%
Club Accounts  0.05% 0.05%
IRAs2 0.40% 0.40%
Dividends are paid quarterly and calculated on average daily balance. If you close your account before dividends are paid, you will not receive the accrued dividends. Rates are effective as of  July 1, 2020, and are subject to change at any time without notice.
2 Minimum opening balance of $1.00.

3 Minimum $5.00 balance required.

Loan Rates

Loan Rates
Type of LoanTerm% Over IndexAPR (as low as)
New Automobile1 24-84 Months N/A 0.99%
Used Automobile1  24-84 Months N/A 1.75%
New Recreational Vehicle1 24-240 Months N/A 4.49%
Used Recreational Vehicle1 24-180 Months N/A 5.49%
New Boat1 24-240 Months N/A 3.99%
Used Boat1 24-180 Months N/A 4.99%
New Jet Ski1 24-60 Months N/A 3.99%
Used Jet Ski1 24-60 Months N/A 4.99%
New Motorcycle1 36-75 Months N/A 4.49%
Used Motorcycle1  36-75 Months N/A 4.74%
Share Secured2 N/A 4.50 4.55%
Certificate Secured3 N/A 4.50 4.55%
Signature Line of Credit1 24-60 Months N/A 8.49%

1FOR FIXED RAT E LOANS:The ANNUAL PERCENTAGE RATE you receive for the fixed rate loans may be as low as the rate listed above. Your actual rate is based on your credit rating. Auto rates above may not  include all available discounts. You will be provided the rate for which you qualify when your loan is approved. Rates are subject to change at any time without notice.

2FOR VARIABLE RATE SHARE SECURED: The ANNUAL PERCENTAGE RATE(APR) for existing balances and new advances for share-secured advances will be determined by adding the amount shown above in the "% Above Index" column to the Index. The Index is the dividend rate being paid on regular shares. The rate is subject to change quarterly to reflect any change in the index. Any increase in the APR will take the form of more payments of the same amount.

3FOR VARIABLE RATE CERTIFICATE SECURED: The ANNUAL PERCENTAGE RATE(APR) for existing balances and new advances for certificate-secured advances will be determined by adding the amount shown above in the "% Above Index" column to the Index. The Index is the dividend rate being paid on the certificate securing the loan. The rate is subject to change quarterly to reflect any change in the index. Any increase in the APR will result in an increased payment due at certificate maturity.

CONSUMER LOAN LATE CHARGE: If you are 15 or more days late, you will be charged 5% of the monthly payment not to exceed $20.00.

COLLECTION COSTS: You agree to pay all costs of collecting the amount you owe under this Agreement, including court costs, reasonable attorney fees and the costs of any appeal by the credit union.

Credit Cards
MPS Credit Union Visa®Annual Percentage Rate (APR) for Purchases, Cash Advances, and Balance Transfers
Visa Platinum Card 4.90% Introductory APR for 6 months.
9.90% Thereafter
Visa Gold Card 12.90%
Visa Classic Card 15.50%
Visa Share Secured Card 17.80%

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 the entire balance by the monthly due date. 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 the 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.

Transaction Fees: Foreign Transaction Fee – 2.00% of each transaction in U.S. dollars.

Penalty Fees: Late Payment Fee – Up to $30.00. Returned Payment Fee – Up to $35.00.

How we will calculate your balance:  We use a method called "average daily balance (including new purchases)."

Effective Date: The information about the costs of the cards described in the application is accurate as of September 1, 2019. This information may have changed after that date. To find out what may have changed, call us at 800.782.3630 or write us at MPS Credit Union, PO Box 520622, General Mail Facility, Miami, FL 33152-0622

Billing Rights: Information on your rights to dispute transactions and how to exercise those rights is provided in your account agreement.

Home Equity
Type of LoanTerm% Over IndexAPR (as low as)
Home Equity Fixed 10 years N/A 5.25%
Home Equity Variable1 15 years Prime N/A
Home Equity Fixed 7 years N/A 4.50%
Home Equity Fixed-Variable2 15 years N/A 6.75%

For loan amounts between $10,000.00 and $24,999.00 member pays closing cost.
For loan amounts between $25,000.00 and $250,000.00 credit union pays closing cost.
However, if the loan is satisfied within TWO years of acquisition, the member shall be charged a Pre-Payment Penalty totaling the amount of the closing cost.
For the Fixed-Variable Rate Program if the loan is satisfied within THREE years of acquisition the member shall be charged a Pre-Payment Penalty totaling the amount of the closing cost.

FIXED RATE & ADJUSTABLE RATE COMBINED LOAN-TO-VALUE

  • 80% of appraised value when added to existing 1st mortgage balance on Single Family Homes
  • 75% of appraised value when added to existing 1st mortgage balance on Fixed Variable rate.
  • 75% of appraised value when added to existing 1st mortgage balance on Townhouses.
  • 75% of appraised value when added to existing 1st mortgage balance on Condos & Duplexes.

HOME EQUITY FIXED: The maximum maturity shall not exceed ten years, and the minimum loan amount shall be $10,000.00 and the maximum loan amount shall not exceed $250,000.00 providing there is sufficient equity on the property. Rates are subject to change at any time without notice.

1HOME EQUITY VARIABLE: The ANNUAL PERCENTAGE RATE is based on the Prime rate as of the day of closing, as set forth in the WALL STREET JOURNAL. The rate may be adjusted either up or down quarterly. However, the floor is 4.00% and the yearly cap on the loan is 4.00% per year. The interest rate shall have a ceiling of not more than 18% over the life of the loan. The minimum loan amount shall be $10,000.00 and the maximum $250,000.00. The initial advance shall be in the amount of $5,000.00; with a minimum of $1,000 for each subsequent advance.

2HOME EQUITY FIXED-VARIABLE: The ANNUAL PERCENTAGE RATE shall be fixed for the first three years of the loan. After the three years the loan becomes variable and it is adjusted quarterly the same as "THE HOME EQUITY VARIABLE PROGRAM". The total loan term shall not exceed 15 years and the minimum loan amount shall be $25,000.00. The pre-payment penalty applies for loans satisfied within the first three years of acquisition. Maximum Combined Loan to Value shall not be more than 75%.

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