Loans

At South Metro Federal Credit Union, we provide solutions for your dreams. Whether you need cash for a home, a car, a boat, a vacation, or any other big purchase, South Metro offers competitive rates on the right loan to make your dreams a reality. We do Business Loans, too!

Best of all, we’ve got friendly staff in-office and lots of resources online to make the whole process easier. Please call or visit one of our locations, or just scroll down for more information.

Loan Refinance Offer from South Met FCU

Loans Available

Auto Loans

We offer very competitive interest rates on our auto loans for new or used vehicles. This type of loan can be used to purchase a vehicle (either from a car dealership or private party), refinance a vehicle from another financial institution, or to use the equity of a vehicle that you own, free and clear.

LEARN MORE
  • Repayment terms range from 12 to 72 months for both new and used (72 month minimum loan amount is $25,000 and up).
  • New models are from the current and previous year; all models older than that are considered used.

GAP and MBP online insurance quotesWe work hard to approve every loan application possible. Auto loan applications may be received that do not fit the standard lending policies of the Credit Union but may have merit for an approval using special loan approval criteria. The Credit Union has two programs, enabling us to help more members or potential members:

  • “Get There” Loan Program: this program is for those who do have credit history, but it may be less than perfect, or they may need a higher Loan to Value than our consumer lending policy allows.
  • “Start Here” Loan Program: this program is for those who have little or no credit history. This program is designed to help new borrowers obtain positive credit history with their new auto loan, enabling these members to begin their borrowing history on a positive note!

View our current rates

Apply now

Interest rates are determined by the borrower’s credit score, age of the vehicle and term of the loan. Applicants must be 18 years of age to apply. No branded titles (salvage, lemon law). Full coverage insurance, with no more than $1,000 deductible is required with SMFCU listed as the Loss Payee on the policy. Auto Payment options available. Must be a SMFCU member. Talk with a lender for full details, options, and conditions.

Recreational Vehicle Loans

We offer competitive interest rates on our loans for new or used recreational vehicles. This includes items such as motorhomes, camping trailers, ATV’s, boats, etc. This type of loan can be used to purchase, refinance from another financial institution, or simply use the equity if the member owns the vehicle free and clear.

LEARN MORE
  • Repayment terms range from 12 to 72 months (new or used) or up to 144 months for a boat or motorhome loan of $30,000.00 or more.

View our current rates

Apply now

Certain factors could raise or lower the interest rate that the member qualifies for on a recreational vehicle loan. Members may pay a higher rate on an older model. Or, they may pay a lesser rate for having a full banking relationship with SMFCU or setting up automatic payment. Auto Payment options available. No branded titles (salvage, lemon law). Full coverage insurance, with no more than $1,000 deductible is required with SMFCU listed as the Loss Payee on the policy. Must be a SMFCU member. Talk with a lender for full details, options, and conditions.

Share Secured and CD Secured

Our Share Secured Loans and CD Secured Loans are a great way to rebuild your credit or make a large purchase without draining your hard earned savings.

LEARN MORE
  • It’s flexible and offers lower interest rates than credit card or unsecured loans.
  • You will continue to earn interest on the money in your savings account or CD.
  • Accessible for members with little or no credit.
  • Members can borrow up to 100% of eligible savings accounts or up to 100% of their share certificate principal balance.

View our current rates

Apply now

A hold is placed on matching funds in the share or CD account to secure the loan. Certificate of Deposit maturity date must match the term of the loan. Interest rates for share secured loans can be located on the SMFCU Rate Sheet. Total repayment of a certificate loan is required upon certificate redemption. CD secured loans are typically charged a percentage over the CD Rate, this information can also be found on the SMFCU Rate Sheet. Members must still meet income and employment underwriting guidelines. Auto Payment options available. Must be a SMFCU member. Talk with a lender for full details, options, and conditions.

Line of Credit

Our Line of Credit offers low rates and can be used for a variety of ongoing personal needs. You only need to apply once then withdraw funds as needed.

LEARN MORE
  • Can help balance the fluctuation between monthly income and expenses.
  • Access funds any time online, by phone, or in person.
  • No fee to withdraw funds.
  • Fixed interest rate.

View our current rates

Apply now

As with all loan products, rates for our unsecured line of credit can be changed without notice.

Checking Line of Credit

Our checking line of credit is an affordable way to protect your assets if you were to accidentally overdraw your checking account.

LEARN MORE
  • Borrow up to $5,000.
  • Money will be transferred to your checking account in increments of $100.
  • Rates as low as 9.25% APR*.
  • Advance from the credit line for uses other than overdraft protection.

View our current rates

Apply now

*APR is Annual Percentage Rate. Variable interest rate that is calculated at Prime Rate plus 4.25%, will never be higher than 18. Payments calculated as 5% of the outstanding loan balance with a minimum monthly payment of $50.00 (unless loan balance is less than $50.00). Due date the 25th of the month. Overdraft protection may only be set up to one South Metro Federal Credit Union checking account and one Checking Line of Credit loan per member. Online advances available. Terms, rates and conditions are subject to change without notice. Must be a SMFCU member. Talk with a lender for full details, options, and conditions.

Personal Loan

Our Personal Loan offers competitive rates and flexible terms to fit your budget.

LEARN MORE
  • No collateral required.
  • Flexible terms up to 60 months.
  • Fixed rates and discounts for auto-pay and an active SMFCU checking account.
  • Easily apply online and receive your funds often on the same day or next business day.

View our current rates

Apply now

Must be a SMFCU member. Other terms available. Member responsible for any applicable taxes. Talk with a lender for full details, options, and conditions.

Mortgages

Our mortgage loans can help you find affordable housing rates to suit your needs. Whether you’re looking at a co-op loan, a first-time home loan, or considering your refinance options, we are here to help.

Visit the SouthMet Mortgage Center

LEARN MORE
  • Apply online or get personal assistance by contacting our mortgage team at 952-445-0888.
  • Close on your mortgage faster than ever – minutes, rather than days or weeks!
  • Free pre-approvals.
  • Variety of loan programs available.

Home Equity Loans

Our Home Equity Loan can unlock cash for home improvements, automobiles, college education, vacation home, debt consolidation, or just about anything! With a low-interest home equity loan from South Metro Federal Credit Union you can make your dreams a reality.

LEARN MORE
  • Low, fixed rate
  • No prepayment penalty
  • No annual fee

South Metro accepts Home Equity loans through our Mortgage Center. Apply online or call our office at (952) 445-0888 to inquire about South Metro’s HELOC and Fixed Rate Home Equity loans.

Apply thru our Mortgage Center

Home Improvement Loans

Our Home Improvement loans offers great rates, flexible terms, and the best part is that you don’t need to use the equity in your home to do it.

LEARN MORE
  • There are two tiers:
    ‣ Tier 1
      ◦ Loan amounts up to $10,0000.00
      ◦ Maximum loan term 10 years (120 months)
    ‣ Tier 2
      ◦ Loan amounts up to $25,000.00
      ◦ Maximum loan term 15 years (180 months)
  • No lien filed against the property.
  • No closing fee, no origination fee, and no prepayment penalty.
  • No waiting period, receive funds as soon as paperwork has been signed!

View our current rates

Apply now

Offered for primary residence improvements only. A formal contractor bid is not required; members planning to complete the improvements themselves simply need to provide a written list of improvements and an estimate of the cost. Specific credit criteria must be met. Must be a SMFCU member. Talk with a lender for full details, options, and conditions.

Loan Insurance

With South Metro’s suite of vehicle loan insurance options through Allied Solutions®, your vehicle loan is safe in our hands!

Depreciation Protection Waiver (DPW)

Help protect the equity in your auto loan.
Gain peace of mind knowing the money invested in your vehicle could be protected in the event of total loss. If a covered vehicle is totaled or stolen and not recovered, this solution provides you with a benefit equal to the MSRP or retail value established at enrollment less the amount of the loan balance at time of total loss up to a $10,000 benefit.

Guaranteed Asset Protection (GAP)

Avoid potential loss on a loan should a vehicle be totaled or stolen.
GAP helps you avoid financial loss by waiving all or a portion of the deficiency between a borrower’s payoff amount on their auto loan and the determined actual cash value of a vehicle in the event that a vehicle is totaled or stolen, subject to a loan-to-value maximum.

Mechanical Repair Coverage

Gain valuable peace-of-mind and protection against costly vehicle repairs.
Don’t let unexpected car repair stress you out. Ask us about how we can protect you from the high costs of mechanical breakdown with our vehicle extended warranty from Route 66 Extended Warranty.

Debt Protection

Debt protection offers a comprehensive way to protect your financial well-being.
This solution covers all or part of your debt in the occurrence of a protected event, such as death, disability or involuntary unemployment. Depending on the covered event, the debt is canceled as a lump sum or on a monthly payment basis.

Vehicle insurance online quotes from South Metro FCU

Vehicle Loan Insurance

For more information, call 952-445-0888 and speak to a loan officer.

South Metro loans

We bring competitive rates, fewer fees, and a more personal approach to lending. Get your next loan at South Metro.

Calculators

Calculators are valuable tools for testing real-world financial scenarios. This set of calculators from our MoneyEdu website can help with your financial decisions. Note: these calculators are for estimate purposes only, since they use assumptions. To learn more about your specific financial situation, give us a call!

South Metro FCU auto loan calculator

Auto Loan Calculator

Estimate monthly payments and the total cost of a vehicle loan.

South Metro FCU emergency fund calculator

Emergency Fund Calculator

How much savings should you keep on hand?

South Metro FCU credit card repayment calculator

Credit Card Repayment Calculator

Find out the total cost to pay off a credit card debt, and how long it will take.

South Metro FCU financial wellness calculator

Financial Wellness Calculator

Compare your financial health with a national sample.

Loan Rates Effective December 1, 2021

Cars and Trucks **

New   

   as low as 2.24% APR*
Used

as low as 2.24% APR*

Boats, Motorcycles, RVs, Motorhomes **

New    
   as low as 2.24% APR*
Used

as low as 2.24% APR*

Other Collateral (Jet Ski, Fish House, ATV, Snowmobile, Dirt Bike, etc.)

New    
as low as 3.59% APR*
Used
as low as 3.59% APR*   

Other Loans

Home Improvement

as low as 5.49% APR*

Share Secured

as low as 3.75% APR*

Line of Credit

as low as 9.25% APR*

Checking Line of Credit

as low as 7.50% variable APR*

CD Secured

as low as 3.00% over Certificate Rate +

Personal Loan

as low as 9.35% APR*

* APR = Annual Percentage Rate. Rates may be higher based on credit score, loan term and Loan to Value (LTV). Add 1.00% APR to loan with collateral older than 2009 and for collateral with high mileage. Rates assume an automatic payment will be set-up. Add .25% APR to rates if a manual payment will be made. All loans subject to credit approval and additional terms and conditions may apply, see a credit union representative for more information.
** Must have a state issued title. Those without a title will be priced as Other Collateral.
+ See Deposit Rate Sheet for current Certificate of Deposit (CD) rates. CD term must match loan term. You may be charged a penalty for breaking terms or conditions of an existing CD.

Home Equity Loans

HE Fixed (no origination fee)

as low as 3.49% APR*

HE Line of Credit++ (no origination fee)

as low as Index – 0.50% APR*

* APR = Annual Percentage Rate. Rates may be higher depending on credit, term and Loan to Value (LTV). Home Equity Loans available in select states only. Consult a tax advisor about the tax deductibility of interest. Closing costs may vary dependent on the loan amount and specific loan terms. Rates assume an automatic payment will be set-up. Add .25% APR to rates if a manual payment will be made.
++ The Home Equity Line of Credit (HELOC) has a variable rate. The APR will vary based on an index. The current index is the Prime Rate as published by The Wall Street Journal. As of 3/15/2020 the Prime rate is 3.25%. The APR will not exceed 18%.

CO-OP Housing Loans

Call 952-445-0888 and select Menu Option 3 to speak to a Mortgage Specialist for rates based on your scenario.

Mortgage Loans

Call 952-445-0888 and select Menu Option 3 to speak to a Mortgage Specialist for rates based on your scenario. NMLS ID#: 1059389

Visit the SouthMet Mortgage Center

Member Business Loans

Call 952-445-0888 and select Menu Option 4 to speak to a Business Loan Specialist about our many business loan solutions.

VISA® Credit Cards (variable rate)

Platinum Preferred

7.15% APR*

Gold Rewards

9.15% APR*

Start Here

13.15% APR*

Start Here Secured

13.15% APR*

* APR = Annual Percentage Rate. Rate offered will be based on your creditworthiness. The APR is subject to change monthly on the tenth day of each month to reflect any change in the Index; this will be determined by the Prime Rate as published in the “Money Rates” column of the Wall Street Journal, to which we will add a margin. If the 10th falls on a date the Wall Street Journal does not publish, the Prime Rate published on the last publishing day preceding the 10th will be used. The APR will never be greater than 18%. No annual fee. No balance transfer fee. For more details, see our VISA Agreement.

Get there. Start here.

Find South Metro on FacebookFollow South Metro on TwitterCheck Out South Metro's Instagram feed

Routing #: 091981646  |  NMLS ID # 1059389

WEBSITE ACCESSIBILITY NOTICE
We at South Metro Federal Credit Union are committed to the digital inclusion and providing a website that is accessible to the widest possible audience in accordance with certain standards and guidelines. We are striving consistently to conform to WCAG 2.0 Level AA of accessibility. If you run into any barriers, please reach out to us at 952-445-0888 or MemberServices@SouthMet.com.

Equal Housing Lender    NCUA Insurance     Excess Share Insurance

© Copyright 2021. All rights reserved. South Metro Federal Credit Union.    SEND US A SECURE EMAIL

Need Help?

Call 952-445-0888 to contact us. We're eager to help!