Rates

Pump the brakes on high rates

Loan Rates
Credit Union of Richmond offers competitive rates that help our members keep money in their pockets.

First, before you settle for an account, loan or certificate anywhere else, check with us to see what we can offer you. In addition, we can take a look at your current loans and see how much we can help you save through refinancing.

Rates are effective as of November 2022*. 

See our current rates below.

 

Loans (Current as of November 2022)

Auto Loan Rates

Auto Loan Rates

Loan Rates

Term

APR*

New Car Loans

(2017 and newer)

Up to 84 months

3.24% - 18.00%

Used Car Loans

(2012 - 2016)

Up to 84 months 

4.49% - 18.00%

RVs, Boats and Motorcycles

(2017 and newer)

Up to 84 months

5.99% - 18.00%

RVs, Boats and Motorcycles

(2012 - 2016)

Up to 84 months

6.74% - 18.00

***Restrictions apply, all offers and rates are subject to change at any time.

*APR=Annual Percentage Rate. The Annual Percentage Rates are the advertised rates and can vary based on creditworthiness, age of vehicle or RV, loan term and our internal lending criteria which means your rate may be higher. Not all borrowers will qualify. Rates are subject to change but will not exceed 18%. Financing up to 125% of the retail value of the auto may be available but not guaranteed by a source approved by us. Collateral subject to approval. Down payment discount of .25% (used) and .50% (new) available for auto and RV purchases only.

Payment example based off a $20,000 loan: A monthly payment of $500.50 at 2.74% APR with a 42 month term; A monthly payment of $334 at 3.49% APR with a 66 month term.

Credit Union of Richmond offers:

  • Financing up to 125% for vehicles.
  • GAP and warranties available

Please contact one of our loan officers for complete information on current rates and details.

Auto Loan Refinance
Bring in your current auto loan from another financial institution to Credit Union of Richmond and we will add 100 dollars to your share account. For more information, apply online or call 1-804-355-9684.

**Restrictions apply, all offers and rates are subject to change. ** Credit Union of Richmond loans are not included with this offer. Rates are subject to change at any time and should only be used as a guide. 

*APR=Annual Percentage Rate. The Annual Percentage Rates are the advertised rates and can vary based on creditworthiness, age of vehicle, loan term and our internal lending criteria which means your rate may be higher. Not all borrowers will qualify. Rates are subject to change but will not exceed 18%. Financing up to 125% of the retail value of the auto may be available but not guaranteed by a source approved by us. Collateral subject to approval. The rate on a new/used vehicle could be as low as 2.24% APR which includes a discount of up to 1% off the current rate utilizing the auto loan recapture promotion. This promotion is only available if the auto is refinanced from another lender. Regardless of promotions and discounts, the rate cannot exceed 2.24% which is the minimum APR offered. If the promotional rate is not utilized, then our standard auto rates range from 3.24%-18% APR. Loans currently financed through the credit union cannot be refinanced with this offer.

Payment example based off a $20,000 loan: A monthly payment of $496 at 2.24% APR with a 42 month term; A monthly payment of $334 at 3.49% APR with a 66 month term.

Personal Loans

Personal Loans

Term

APR*

Up to 84 months

7.74 - 18.00

Personal Loans Refinance
Bring in your current personal loan from another financial institution to Credit Union of Richmond and you may receive up to 1% less than your existing rate with financial institution and we will add $25 to your share account

*Rates and loan approval are based on creditworthiness and our internal credit criteria. Not all borrowers will qualify.  Minimum or maximum loan amounts and credit limits apply.  Restrictions apply, all offers, and rates are subject to change without further notice. Credit cards, automobile, RV, and mortgage loans are excluded from this offering. Recaptured personal loan rates (refinanced from another lender) will range from 5.99%-18% APR. To qualify for up to 1% less than your current rate you must provide supporting documentation. We will match the remaining term of your loan not to exceed 84 months.  Regardless of discounts or promotions, 5.99% APR is our minimum rate offered for personal loans. If the loan is not considered a recapture, then our standard rates apply which range from 7.74% to 18%. Payment example: A loan of $5,000 for 36 months has a payment of $153 at 5.99% APR. Another payment example: A loan of $5,000 for 36 months has a payment of $183 at 18% APR.

VISA®

VISA

Term

APR*

-

7.90 - 18.00

*Annual Percentage Rate based on Credit Score

Introductory rate is for the first 6 months billing cycle.

*Membership is required for all loans, credit cards and lines of credit.

*Please contact one of our loan officers for complete information on current rates and details.

Deposit Rates (Current as of November 2022)

With great yields on federally insured deposits, you can earn extra money. 
Regular Shares Rates
Share Savings Rate

Minimum Opening Deposit

$5

Minimum to Earn APY

$100

Rate

0.10%

Annual Percentage Yield (APY)*

0.10%

Compounding Frequency

Quarterly

 

Christmas Club Rates

Christmas Club

Minimum Opening Deposit

-

Minimum to Earn APY

$100

Rate

0.10%

Annual Percentage Yield (APY)*

0.10%

Compounding Frequency

Quarterly

Account transfer and withdrawal limitations apply.

 

Individual Retirement Account Rates
Individual Retirement Account Rates

Minimum Opening Deposit

-

Minimum to Earn APY

$100

Rate

0.10%

Annual Percentage Yield (APY)*

0.10%

Compounding Frequency

Quarterly

**A penalty may be imposed for early withdrawals**
For more information contact us.

 

Kids and Teens Club Rates
Kids and Teens Club

Minimum Opening Deposit

$5

Minimum to Earn APY

$100

Rate

0.10%

Annual Percentage Yield (APY)*

0.10%

Compounding Frequency

Quarterly

 

Custodial/VUTMA Rates
Custodial/VUTMA

Minimum Opening Deposit

$5

Minimum to Earn APY

$100

Rate

0.10%

Annual Percentage Yield (APY)*

0.10%

Compounding Frequency

Quarterly

 

Money Market (Dreamer) Rates

Money Market (Dreamer)

Minimum Opening Deposit

-

Minimum to Earn APY

-

Rate

$0.00 to $4,999.99

0.10%

$5,000 to $19,999.00

0.15%

$20,000.00 or greater

0.20%

Annual Percentage Yield (APY)*

$0.00 to $4,999.99

0.10%

$5,000 to $19,999.00

0.15%

$20,000.00 or greater

0.20%

Compounding Frequency

Monthly

Account transfer and withdrawl limitations apply. 

Rate = Dividend Rate

*APY = Annual Percentage Yield

*For Share Savings Accounts, Club Accounts and Share IRA, the dividend rates and the annual percentage yields may change at any time as determined by the credit union’s Board of Directors. The minimum deposit earns the stated APY for Share Christmas Club, Share IRA, and Organization Accounts is $100. Additionally, the minimum balance earns the stated APY for Kids/Teens Club, Trust and Custodian Accounts is $5. The minimum opening deposit for Share, Trust, Custodian and Organization Accounts is $5. No minimum opening deposit is required for the Club Accounts or Share IRA.

Certificates (Current as of November 2022)

Share Certificates

6 Month Share Certificate Rates

Minimum Opening Deposit

$500

Minimum to Earn APY

-

Rate

0.30%

Annual Percentage Yield (APY)*

0.30%

Compounding Frequency

Quarterly

12 Month Share Certificate Rates

Minimum Opening Deposit

$500

Minimum to Earn APY

-

Rate

0.35%

Annual Percentage Yield (APY)*

0.35%

Compounding Frequency

Quarterly

24 Month Share Certificate Rates

Minimum Opening Deposit

$500

Minimum to Earn APY

-

Rate

0.40%

Annual Percentage Yield (APY)*

0.40%

Compounding Frequency

Quarterly

36 Month Share Certificate Rates

Minimum Opening Deposit

$500

Minimum to Earn APY

-

Rate

0.45%

Annual Percentage Yield (APY)*

0.45%

Compounding Frequency

Quarterly

48 Month Share Certificate Rates

Minimum Opening Deposit

$500

Minimum to Earn APY

-

Rate

0.50%

Annual Percentage Yield (APY)*

0.50%

Compounding Frequency

Quarterly

60 Month Share Certificate Rates

Minimum Opening Deposit

$500

Minimum to Earn APY

-

Rate

0.55%

Annual Percentage Yield (APY)*

0.55%

Compounding Frequency

Quarterly

Jumbo Share Certificate Rates

Minimum Opening Deposit

$50,000

Minimum to Earn APY

-

Rate

0.35%

Annual Percentage Yield (APY)*

0.35%

Compounding Frequency

Quarterly

Century Share Certificate Rates

Minimum Opening Deposit

$100,000

Minimum to Earn APY

-

Rate

0.35%

Annual Percentage Yield (APY)*

0.35%

Compounding Frequency

Quarterly

 

Individual Retirement Account Certificate Rates

6 Month IRA Certificate Rates

Minimum Opening Deposit

$500

Minimum to Earn APY

-

Rate

0.30%

Annual Percentage Yield (APY)*

0.30%

Compounding Frequency

Quarterly

12 Month IRA Certificate Rates

Minimum Opening Deposit

$500

Minimum to Earn APY

-

Rate

0.35%

Annual Percentage Yield (APY)*

0.35%

Compounding Frequency

Quarterly

24 Month IRA Certificate Rates

Minimum Opening Deposit

$500

Minimum to Earn APY

-

Rate

0.40%

Annual Percentage Yield (APY)*

0.40%

Compounding Frequency

Quarterly

36 Month IRA Certificate Rates

Minimum Opening Deposit

$500

Minimum to Earn APY

-

Rate

0.45%

Annual Percentage Yield (APY)*

0.45%

Compounding Frequency

Quarterly

48 Month IRA Certificate Rates

Minimum Opening Deposit

$500

Minimum to Earn APY

-

Rate

0.50%

Annual Percentage Yield (APY)*

0.50%

Compounding Frequency

Quarterly

60 Month IRA Certificate Rates

Minimum Opening Deposit

$500

Minimum to Earn APY

-

Rate

0.55%

Annual Percentage Yield (APY)*

0.55%

Compounding Frequency

Quarterly

Jumbo IRA Certificate Rates

Minimum Opening Deposit

$50,000

Minimum to Earn APY

-

Rate

0.35%

Annual Percentage Yield (APY)*

0.35%

Compounding Frequency

Quarterly

 

*APY = Annual Percentage Yield

*A minimum deposit of $50,000 is required and must be maintained throughout the term of the certificate for the 12 month Jumbo Share and Jumbo IRA Certificate. A minimum deposit of $100,000 is required and must be maintained throughout the term of the certificate for the 12 month Century Share Certificate (The Century Certificate is not offered as an IRA Certificate).

*For all other Share and IRA Certificates, a $500 minimum deposit is required and must be maintained throughout the term of the certificate. The term selected will determine the applicable dividend rate and APY. A penalty may be imposed for early withdrawal. The dividend rate and annual percentage yield may change at any time as determined by the credit union’s Board of Directors. For Share Certificates and IRA Share Certificates, the dividend rate and the APY at the time of the purchase will remain the same until the maturity date of the Share or IRA Certificate.