Rates

As your financial wellness providers, we want to do everything in our power to set you up for financial success. That’s why we have some of the lowest loan rates in the nation, which could save you money every month.


You may review current rates using the following services:

Savings Rate Line: (317) 276-RATE
Mortgage Rate Line: (800) 561-9433
Loan Rate Line: (317) 276-2105, option 1

View current international currency exchange rates.
Currency rates are not applicable for wire transfers.

Download Disclosures for Checking & Savings Accounts.
Terms & Conditions, Funds Availability, Electronic Funds Transfers and Truth-In-Savings

Rates effective as of December 12, 2014 and subject to change without notice. Fees may reduce earnings.

Savings Account Rates

Premium Money Market Account Annual Simple Dividend Annual Percentage Yield
$0 - $2,499 0.049% 0.05%
$2,500 - $9,999 0.099% 0.10%
$10,000 - $24,999 0.149% 0.15%
$25,000 - $49,999 0.209% 0.21%
$50,000 - $99,999 0.309% 0.31%
$100,000 - $249,999 0.399% 0.40%
$250,000 and Above 0.449% 0.45%

Helium Savings Annual Simple Dividend Annual Percentage Yield
Balances $10,000 and Above 0.995% 1.00%

Member Savings Annual Simple Dividend Annual Percentage Yield
$100 - $24,999 0.099% 0.10%
$25,000 - $49,999 0.149% 0.15%
$50,000 and Above 0.199% 0.20%

The Grow Account Annual Simple Dividend Annual Percentage Yield
All Balances 0.099% 0.10%

*Average daily balance of $10,000 required to earn dividends with the Helium Savings account.

Checking Account Rates

Checking Accounts Annual Simple Dividend Annual Percentage Yield
Dividend Checking 0.069% 0.07%
High Interest Checking
$50 - $999.99*
3.928% 4.000%
High Interest Checking
portion of balance > $999.99
0.149% 0.150%

Health Savings (HSA) Checking Annual Simple Dividend Annual Percentage Yield
$0 - $2,499 0.995% 1.00%
$2,500 - $9,999 0.995% 1.00%
$10,000 - $24,999 0.995% 1.00%
$25,000 and Above 1.242% 1.25%

*Must meet account transaction requirements per Business Cycle to receive dividend. See Truth in Savings Disclosures for details.

Certificate, IRA & ESA Rates

Maturity Annual Simple Dividend Annual Percentage Yield
6-Month 0.128% 0.130%
1-Year 0.256% 0.260%
18-Month 0.335% 0.340%
2-Year 0.404% 0.410%
3-Year 0.698% 0.710%
4-Year 0.894% 0.910%
5-Year 1.138% 1.160%
7-Year 1.236% 1.260%
10-Year 1.479% 1.510%

Rate Climber Certificate Annual Simple Dividend Annual Percentage Yield
34-Month 1.469% 1.50%
54-Month 1.955% 2.00%

Minimum certificate deposit of $1,000.00. Minimum required to open a child's certificate is $500.00. Child must be under 18 years of age. A penalty will be imposed for withdrawal before maturity. Rate Climber Certificate may not be used as collateral for a Hold Certificate Loan.

IRA/ESA Money Market Savings Annual Simple Dividend Annual Percentage Yield
All Balances 0.209% 0.210%

All Elfcu rates are available at elfcu.org/rates.

Rates effective as of June 9, 2014 and subject to change without notice. Each individual's Annual Percentage Rate (APR) is determined by the applicant's credit history. Not all applicants will qualify for our displayed lowest rates.

Apply online for a Vehicle or Consumer loan now!

Elfcu Vehicle Loan Rates

Vehicle Loans Rate APR
New and Used Auto (2011+) 2.74% 2.991%
Used Auto (2009-2010) 3.99% 4.243%
Older Used Auto (2007-2008) 4.99% 5.245%
Older Used Auto (2004-2006) 6.49% 6.748%
Motorcycle (2004+) 6.24% 6.497%
Leisure Vehicle (2004+) 6.99% 7.249%

A $100 processing fee applies to all Auto, Motorcycle and Leisure Vehicle Loan applications. APR calculation based on loan amount of $20,000, FICO score of 740 or greater, and term of 48 months.

Elfcu Credit Card Introductory Rates

Credit Cards Introductory APR1
on Balance Transfers2
Introductory APR
on Purchases3
After Introductory Period
Elfcu Platinum
Visa Credit Card
0% for 6 months
No Balance Transfer fee
0% for 6 months Variable APR will be 11.99% for Purchases and 14.99% for Balance Transfers
Elfcu Platinum Rewards
Visa Credit Card
0% for 6 months
No Balance Transfer fee
0% for 6 months Variable APR will be 12.99% for Purchases and 15.99% for Balance Transfers
Elfcu Signature Rewards
Visa Credit Card
0% for 6 months
No Balance Transfer fee
0% for 6 months Variable APR will be 10.99% for Purchases and 13.99% for Balance Transfers
Riley Children's Foundation
Visa Credit Card*
0% for 6 months
1% Balance Transfer fee
0% for 6 months Variable APR will be 12.99% for Purchases and 15.99% for Balance Transfers

Elfcu Visa Credit Card introductory rate good for six months. 1) Annual Percentage Rate. 2) 3% balance transfer fee applies; Elfcu loans are not eligible for payoff with introductory balance transfer offers. After promotional period variable APR for Balance Transfers will be 15.99% for Platinum Rewards Visa; 14.99% for Platinum Visa without rewards; and 13.99% for Signature Rewards Visa. 3) After promotional period your Standard variable APR for Purchases will be 12.99% for Platinum Rewards Visa; 11.99% for Platinum Visa without rewards; and 10.99% for Signature Rewards Visa. APR will vary with the market based on the Prime Rate as published in The Wall Street Journal.

Signature and Platinum Visa Credit Card Transaction Fees
Credit Card Balance Transfer: None
Credit Card ATM Cash Advance: Up to 3% for each ATM Cash Advance or a minimum of $5.00
Credit Card Over the Counter Cash Advance: Up to 3% for each Over the Counter Cash Advance or a minimum of $5.00
Credit Card Cash Equivalent: Up to 3% for each Cash Equivalent transaction or a minimum of $5.00
Credit Card Foreign Transaction: 1% of each Foreign Transaction in U.S. dollars.

*Riley Children's Foundation Visa Credit Card Rate, fee and other cost information: Riley Children’s Foundation Visa Credit Card introductory rate good for 6 months. After promotional period your Standard Variable APR will be 12.99% for Purchases 15.99% for Balance Transfers which both will vary with the market based on the Prime Rate as published in The Wall Street Journal. Elfcu loans are not eligible for payoff with introductory balance transfer offers. Fees for Balance Transfers and Convenience Checks are up to 1% or a minimum of $5.00. Fees for Cash Advances are 3% for each Cash Advance or a minimum of $5.00. Fee for Foreign Transactions is 1% of each Foreign Transaction in U.S. dollars. Subject to credit approval. Additional limitations, terms and conditions apply.

Other Elfcu Loan Rates

Other Loans Variable APR Fixed APR
EZ Line of Credit 11.49% -
Credit Builder Loan - 8.49%
Signature Loan - 8.49%
K-12 Tuition Assistance Loan - 7.99%
Hold Certificate Loan see below see below
Stock Secured LOC 3.25% -

EZ Line of Credit Annual Percentage Rate (APR) is a variable interest rate set at the discretion of the credit union and can change after the loan is made. The APR will never be greater than 18% or the maximum rate allowed by law, whichever is less.

Hold Certificate Loan Annual Percentage Rate is a fixed rate priced 2% (200 basis points) higher than the current Annual Simple Dividend you are earning on the Share Certificate you offer to use as collateral for this loan. Loans booked prior to May 1, 2006 are a variable rate that may change monthly, as shown on your statement.

Stock Secured LOC collateral value will be determined by LPL Financial derived from the previous day's closing price of the security. Elfcu will lend up to 70% of the value of any security held in an LPL Collateralized Loan Account, except for the purpose of purchase or carrying securities, which the maximum loan to value will be 50% as in accordance to Regulation U. While this exception is important, it's rarely the reason that a member would request a stock loan. Currently our stock loan minimum is $5,000. The interest rate shall be a variable rate equal to the Prime Rate (current minimum is 3.25% and maximum is 18%) as published in The Wall Street Journal on the last day of the previous month plus or minus a "margin" rounded to the nearest 0.25%.

All Elfcu rates are available at elfcu.org/rates.

Rates effective as of December 19, 2014. 

Elfcu Mortgage Rates

Payments shown do not include taxes and insurance premiums. Each individual's Annual Percentage Rate (APR) is determined by the applicant's credit history. Not all applicants will qualify for our displayed lowest rates.

Apply online at our Mortgage Center now!

Fixed Rate Mortgages Rate Points APR Payment
30 Year Fixed 3.875% 0.000 3.958% $705.36
20 Year Fixed 3.625% 0.000 3.739% $879.61
15 Year Fixed 3.125% 0.000 3.270% $1,044.91
10 Year Fixed 3.000% 0.000 3.211% $1,448.41
7 Year Fixed 2.875% 0.000 3.170% $1,973.56
5 Year Fixed 2.750% 0.000 3.156% $2,678.67

Adjustable Rate Mortgages Rate Points APR Payment
3/1 ARM 2.875% 0.000 2.953% $622.34
5/1 ARM 3.000% 0.000 3.079% $632.41
7/1 ARM 3.250% 0.000 3.330% $652.81
5/5 ARM 30 Year 3.375% 0.000 3.455% $663.14
5/5 ARM 15 Year 3.000% 0.000 3.145% $632.41

First Time Homebuyer Program Rate Points APR Payment
30 Year Fixed 4.125% 0.000 4.209% $726.97
20 Year Fixed 3.875% 0.000 3.990% $899.12
15 Year Fixed 3.375% 0.000 3.521% $1,063.14
7/1 ARM 3.625% 0.000 3.707% $684.08
5/5 ARM 3.625% 0.000 3.707% $684.08

Jumbo Program Rate Points APR Payment
Jumbo 15 Year Fixed 3.875% 0.000 3.924% $3,300.48
Jumbo 30 Year Fixed 4.250% 0.000 4.300% $2,213.73

Government Program Rate Points APR Payment
30 Year FHA Fixed 3.500% 0.000 3.581% $673.57
15 Year FHA Fixed 3.625% 0.000 3.772% $1,081.56
30 Year VA Fixed 3.625% 0.000 3.707% $684.08
15 Year VA Fixed 3.875% 0.000 4.023% $1,100.16

Loan Quote Assumption: Rates and payments quoted above are based on loans secured by property in the state of Indiana. Rates and payments, closing costs and points may vary by property location, loan type and borrower credit and income characteristics. Not all applicants qualify for our lowest rates.

Rates are based on a purchase transaction for a single family primary residence with a loan amount of $150,000, FICO score of 740 or greater and 25% down. Mortgage rates are subject to change without notice at any time until you have locked a loan. Actual rate and payment will vary based on your specific situation. Some products may not be available in your state. Some restrictions may apply.

Notice Regarding Adjustable Rate Mortgages: Interest is fixed for a set period of time, and adjusts periodically thereafter. At the end of the fixed rate period, the interest and monthly payments may increase but the APR will not exceed 18%.

Rates effective as of December 19, 2014. 

Elfcu Home Equity Rates

Payments shown do not include taxes and insurance premiums. Each individual's Annual Percentage Rate (APR) is determined by the applicant's credit history. Not all applicants will qualify for our displayed lowest rates.

Apply online now!

Home Equity Lines of Credit Rate Points Variable APR
HELP Line of Credit 3.750% 0.000 3.750%

Introductory rates as low as 1.99% APR* on New Home Equity Lines of Credit for 90 days then as low as 3.75% variable APR.

*The Introductory Annual Percentage Rate (APR) of 1.99% is for new home equity line of credits only and applies to balances on the first 90 days after the account open date. To receive this rate, a draw of at least $5,000 must be made within 30 days of closing. After the introductory rate expires, your rate will never be lower than 3.75% or higher than 18% APR which is a variable rate that will change based on the Prime rate as published in The Wall Street Journal plus a margin. Each individual’s APR is determined by the applicant’s credit history and property’s LTV. Not all applicants will qualify for the lowest rates. In certain states mortgage filing fees may apply. Elfcu reserves the right to modify or end this offer at any time. Subject to credit approval.

Home Equity Closed End Loans Rate Points APR Months Payment
HELP1 (15 yr Monthly Variable Rate) 1st Mortgage  3.750%  0.000  3.861%*  First Month  $363.61 
HELP1 (15 yr Monthly Variable Rate) 2nd Mortgage  4.750%  0.000  4.864%*  First Month  $388.92 
5/10 Loan (5 yrs fixed rate/10 yrs variable) 1st Mortgage  3.750%  0.000  3.861%  1-60  $363.61 
  61-180 
5/10 Loan (5 yrs fixed rate/10 yrs variable) 2nd Mortgage  4.750%  0.000  4.864%  1-60  $388.92 
  61-180 
10/5 Loan (10 yrs fixed rate/5 yrs variable) 1st Mortgage  4.000%  0.000  4.111%  1-120  $369.84 
  121-180 
10/5 Loan (10 yrs fixed rate/5 yrs variable) 2nd Mortgage  5.000%  0.000  5.114%  1-120  $395.40 
  121-180 

Annual Percentage Rates. APRs above are calculated using loan amounts of $50,000, FICO score of 740 or greater and loan to value of 80% for a single family residence.

*The APR for HELP, HELP1 and the second term of the 5/10 and 10/5 loans are variable and are based on The Wall Street Journal Prime Rate as published on the 1st business day of every month plus or minus a margin and will vary with the Prime Rate, but will not exceed 18%. Payments for the variable portion of the 5/10 and 10/5 loans will depend on the then current index, margin and remaining outstanding loan balance.

Programs, rates, terms and conditions are subject to change without notice. Cumulative loan to value and loan to value ratios, margins, rates, and payment amount may be higher or lower than the advertised rate and payment amount.

Fees: A $375 processing fee applies to all HELP1, 5/10 and 10/5 loans plus applicable state-specific and title insurance fees may apply.

All Elfcu rates are available at elfcu.org/rates.