Loan Rates

Truth-in-Lending Disclosure:

This Disclosure sets forth certain conditions and rates applicable to accounts at Hockley County School Employees Credit Union as of 03-04-24. Further details and additional information about the following accounts, including any applicable fees, are available by contacting Hockley County School Employees Credit Union at 806-894-6204.  Rates are now based on member's credit scores.  The following rates are based on an "A" score, which will be the best available rate.  Credit scores that are not an "A" score will be higher than the rates listed below:

Effective as of March 04, 2024
Type of Loan Loan Rate (APR) Maximum Term Notes
New Autos 6.25% 72 months **
Program Autos 7.25% 72 months **
Used Autos
2023 models
2022 models
2021 models
2020 models
2019 models
2018 models
2017 models
2016 models
2015 models 		8.25%
for all
2015 - 2023 models 		66 months
60 months
54 months
48 months
42 months 		**
2014 models and below 12.25% 36 months **
Recurring Debt 11.75% 12 months **
New boats, RVs, Mobile Homes 6.75%
7.00%
7.25% 		72 months
120 months 
180 months  		**
Used boats, RVs, Mobile Homes 9.25% 120 months **
Unsecured 13.25% 30 months **
CD Secured CD rate plus 2.00% Varies **
Share Secured 3.00% N/A **

*APR is defined as "Annual Percentage Rate"

**All above rates are quoted based upon the loan payments being placed on either direct deposit, payroll deduction or an external monthly bank draft, as well as “A” credit score. Credit scores are considered to be an “A” score of 700 or more according to Experian. If the loan payments are not an “A” score, or not on direct deposit, payroll deduction, or an external monthly bank draft, the loan rates will be at a higher rate.