Loan Rates

DescriptionTermRate
New Auto2023-202248 monthsas low as 1.99%
60 monthsas low as 1.99%
72 monthsas low as 1.99%
84 monthsas low as 2.74%
Used Auto2021-201748 monthsas low as 1.99%
60 monthsas low as 2.24%
72 monthsas low as 2.74%
84 monthsas low as 2.99%
Used Auto2016-201248 monthsas low as 2.99%
60 monthsas low as 3.24%
72 monthsas low as 3.74%
84 monthsas low as 3.99%
Used Auto2011-Older48 monthsas low as 4.99%
60 monthsas low as 5.24%
72 monthsas low as 5.74%
New Motorcycle2023-2022Auto rate + 1.00%
Used Motorcycle2021-OlderAuto rate + 1.00%
Off Road ATV/UTV, Dirt Bike, Jet Ski
New2023-202248 mths-4 yearsRates as low as 4.99%
Used 2021-201748 mths-4 yearsRates as low as 5.99%

2016-Older48 mths-4 yearsRates as low as 6.99%
Boats, RV, Lawn & Farm Equipment, Utility Trailer


New2021-202260 mths- 5 yearsRates as low as 5.50%
Used2020-Older48 mths- 4 yearsRates as low as 6.50%


Rates effective as of October 1, 2022

APR – Annual Percentage Rate. Romney FCU assumes no responsibly for errors or omissions. Please contact the credit union to verify current rate(s) or additional information. The APR on an open-end loan is subject to change during the term of the loan. Any loan not marked as open-end is closed-end. Rates are subject to terms and conditions.

Closed End Loans
Closed end loans have a specified term for pay back, a stated payment and a fixed interest rate.

Repayment Example:  An example of a loan repayment would be 60 monthly payments of $357.07 at a fixed APR of 2.74% for $20,000 borrowed. Please contact a loan officer at any Credit Union office, or use our online Loan Calculator.  In this example, the rate does not change during the term of the loan.

Open End Loans
The finance charges includes just the interest charged on the outstanding balance. The rate is variable and subject to change.

Risk Based Lending
Romney Federal Credit Union uses a risk based lending policy to determine a member’s interest rate. In processing a loan application, the credit bureau provides Romney Federal Credit Union with a calculated credit score. Rates are based on credit risk, vehicle year, term, amount financed and any required down payment.

The purpose in offering risk based loans is to help as many members as possible. We recognize that certain members represent more risk than others. We will not grant loans where the probability of repayment is very doubtful. We recognize the importance of managed risk. We also recognize members who are charged unfavorable rates with other lenders, and we could help with a managed risk program that saves these members substantial money while helping them rebuild their credit.