Members First Credit Union
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Rev-Up Savings with an Auto Savings Loan 

With MFCU's Auto Saving Loan, you'll create an out-of-sight, out-of-mind savings plan that helps you set aside fund for the future.

+ Save at the same rate that you're paying on your loan
+ Contribute a monthly amount to your Auto Savings account; up to a maximum of
   10% of your monthly loan payment.
+ Call 855.835.MFCU for 24/7 person-to-person loan decisions or
   apply online at mfcu.net

Here's How it Works

When you open your auto loan, you can elect to contribute a monthly amount to your Auto Savings account, up to a maximum of 10% of your monthly loan payment.  We make it easy for you to save!

Loan Terms: 3.45% for 60 months, monthly payroll direct deposit
Auto Loan: $20,000 loan amount, $363.42 monthly loan payment
Share Savings: 10% of monthly loan payment or $36.34
Total Payment: $399.76

 

 

 

 

Example of Savings

  10% Deposit Rate* Share Savings
36 months $2,091.60 2.99% $2,191.17
48 months $2,121.60 2.99% $2,256.65
60 months $2,178.00 3.45% $2,380.85

 Your Auto Savings Account could total = $2,380.85 or calculate what your Auto Savings account could total

Since the Auto Savings Account is out of sight, out of mind it will help to financially prepare for the future.  After you've paid off your auto loan you can use the money for a down payment on your next vehicle, a vacation, or simply whatever you want!

 

 

*For this example the Annual Percentage Yield for 36 months is 3.13%, for 48 months 3.17% and for 60 months 3.66%.

Members First Credit Union | P.O. Box 2165 | Midland, MI 48641
Phone 855-835-MFCU (6328) | mail@mfcu.net
Equal Housing Lender
NCUA - Your savings federally insured to at least $250,000 and backed by the full faith and credit of the United States Government. National Credit Union Administration, a U.S. Government agency. Equal Housing Lender - We do business in accordance with the Fair Housing Law and Equal Opportunity Credit Act