Apply for a Loan

Applying for a loan is simple and easy! You can apply here using our online application, by accessing your CPM Anytime Online or Mobile Banking, by calling to speak to one of our experienced Lending Agents or visiting your local branch. CPM Federal Credit Union is committed to offering competitively priced loan products to meet a variety of needs.

Previously applied? Log in to our CPM Online Loan Center. You can reapply or check the status of a current pending application.

It’s that easy!

New/Used Auto

As low as 4.99% APR*

Looking for a new or used auto or to refinance an existing loan? We are here to help! Our low rates , flexible terms, flexible financing up to 100% and instant approvals get you in the drivers seat faster!  Learn More

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Boat/RV/5th Wheels

As low as 6.99% APR*

Ready to have some fun? Whether you are craving the open road or open waters, we have recreational loans offering low rates and flexible terms to fit any budget. Apply Here

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Motorcycle/Personal Watercraft/Travel Trailers

As low as 7.29% APR*

Ready to have some fun? Whether you are craving the open road or open waters, we have recreational loans offering low rates and flexible terms to fit any budget. Apply Here

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Personal Loan

As low as 8.99% APR*

The unexpected happens. Projects need funding. Debt needs consolidating. Get the loan you need with low rates and fixed monthly payments fast! Apply Here

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MyCash

28% APR*

Whether you need a little extra cash for unexpected expenses, groceries, car repairs or anything else in between, our MyCash loan can help! Learn More

Visa® Credit Cards

As low as 13.50% APR*

Competitive rates. Rewards. Low fees. What more could you ask for from a credit card? Learn more

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Home Equity*

1.99% 6-month introductory rate/
as low as Prime - .25%
(Prime rate = 8.50%)

Looking to remodel? Take that dream vacation? Pay for college expenses? A Home Equity Line of Credit is a flexible and affordable way to use your home’s equity for some of life’s largest expenses. Learn More

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MyLine Anytime
Line of Credit

As low as 10.29% APR*

Protection and flexibility are great things. Our MyLine Anytime Line of Credit can protect you against a budgeting or miscalculation oops.  It is available for your checking account or for any expense or purchase. Flexibility letting you borrow anytime for anything. Learn More

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Savings Secured/Certificate Secured

As low as 7.99% APR*

A great way to build or rebuild your credit score with great rates and flexible terms and it uses the funds you already have on deposit with CPM! Apply Today

Mortgages to Fit Every Need!

You are taking the first step on your mortgage journey. Whether you are buying your first home, finding a new home or looking to refinance, we are here to take every step with you. Learn More

Seasonal

Skip a Pay
(when available)

Holiday Loan
(when available)

Debt Consolidation

Hometown Heroes
(when available)

Summer Loan Special
(when available)

Member Loyalty Discount

Your decision to bank with us means a lot. At CPM Federal Credit Union, we appreciate our members and their loyalty. As a way to thank our members for their continued membership, our tenured members are celebrated with an applicable loan rate discount*.

Members will receive 10 basis point or .10% discount for 5 or more years of membership . Members with 10 or more years of membership will receive a discount of 20 basis points or .20%.

Debt Protection

CPM offers several options to preserve the standard of living you worked so hard to achieve. With options including involuntary unemployment, let us make your payments! Ask us how.

*APR - Annual Percentage Rate. Membership rules and restrictions apply.
Auto Loans - Actual rate, terms and conditions may vary and are subject to change and will be based on credit worthiness. APR = Annual Percentage Rate. Actual rate, terms and conditions may vary and are subject to change and will be based on credit worthiness. New auto loan rates as low as 4.99% APR for 36 months. Used auto loan rates as low as 5.89% APR for 36 months. Interest begins accruing at disbursed date of loan. Not all borrowers will qualify for deferred payments. Must begin repayment of loan 90 days after loan effective date. For a $15,000 vehicle loan at 6.69% APR and a payment term of 60 months, your monthly payment will be $295.00. This amount does not include optional vehicle protection coverage. For a $30,000 vehicle loan at 7.99% APR and a payment term of 84 months, your monthly payment will be $468.00. This amount does not include optional vehicle protection coverage. Rates

Boat/RV/Motorcycle/Personal Watercraft/Travel Trailers - New vehicles are either current or previous year auto with less than 12,000 miles. Rates listed are best available based on approved credit; actual rate offered may be higher depending upon applicant credit rating and other underwriting factors.
Personal Loans - Not all borrowers will qualify for extended term. Rate will never exceed 18.00% APR. For a $5,000 personal loan at 11.69% APR and a payment term of 36 months, your monthly payment will be $166.00 per month. As Low As rates listed are our best rates based on approved credit; actual rate offered may be higher depending upon applicant's credit rating and other underwriting factors.
MyCash - Membership rules and restrictions apply. All loan applications are subject to review of eligibility and approval. The Annual Percentage Rate (APR) is accurate as of 10/11/2023. 28% APR (27.75%) and is a fixed rate for the term of your loan. The minimum and initial loan amount is limited to $500.00, and the loan amount for subsequent requests is up to $1,000.00 and is available to members who meet relationship and direct deposit history and other eligibility requirements. Membership of 90 days is required. The $20.00 application fee is collected at the time of the application and must be available funds. Loan is disbursed into your CPM account and cannot be disbursed in a branch, by phone or other means. If the loan is more that 15 days past due, there is a late fee of 5% of the payment amount.
MyLine Anytime Line of Credit - Subject to terms and conditions. Rates and terms based on credit approval.
For a $3,000 Myline loan at 11.20% APR and payments will be 3.50% of balance with a minimum payment of $25.00, term will vary based on the required minimum payment.
Visa Credit Cards - Visa credit card terms. Cards are subject to credit approval. CPM Federal Credit Union reserves the right to change any of the above credit card rates at any time. The APR will vary with the market based on the Prime Rate. Visa Share secured loans must be secured by CPM subshare account. The required pledge amount will be $100.00 greater than the Visa limit requested. Minimum required Visa limit of $400.00. Prime Rate as of 07/28/2023 = WSJ rate is 8.50%.
Home Equity -
APR is variable based on the U.S. Prime Rate as published in the Wall Street Journal, plus a margin (if applicable).  Discount rate is for the initial 6 months, rate will be adjusted to the qualifying tier rate. Current projected rate after initial discount as low as 8.25% up to 90% LTV. After initial 6 month discount period, APR will be between 8.25% and 13.25% based on applicant’s qualifying credit score, combined loan to value and lien position.
APR - Annual Percentage Rate. Membership rules and restrictions apply. Terms and conditions subject to change without notice. Offer subject to credit approval, not all borrowers will qualify. Rates depend on LTV, lien position, and credit score. The offer is limited to currently occupied, single-family dwellings and is not valid for rental properties, mobile homes or residential lots. Property insurance is required as a condition of the loan. Closing costs are associated with this loan. To open and maintain a Home Equity Line of Credit, you may have to pay certain fees to third parties.  These fees generally total $750.00- $2000.00. At your request, an itemization of these fees can be provided and are estimated. Prime Rate as of 07/28/2023 = WSJ rate is 8.50%.
100% HELOC - Subject to additional underwriting guidelines, minimum 660 credit score based on the Equifax Beacon 5.0 model. Not all properties are eligible, only eligible on primary residence with a maximum loan amount of $250,000. Only eligible with our Prime HELOC product. Mobile Home properties are ineligible.
Holiday Loans - Subject to credit approval. Rates based on credit approval. Terms and conditions subject to change without notice. Offer expires December 31, 2023. As Low As rates listed are our best rates based on approved credit; actual rate offered may be higher depending upon applicant's credit rating and other underwriting factors. All advertised rates are subject to change without notice. For a $5,000 personal loan at 11.19% APR and a payment terms of 36 months, your monthly payment will be $165.00 per month.
Skip a Pay - Terms and conditions subject to change without notice. Fees per loan may apply. Loan and account must be in good standing with no current delinquency. Loans must be seasoned at least 12 months. Other eligibility requirements and/or restrictions may apply. Not all loans will be eligible. Visa, Home Equity, MyLine, MyCash, and Mortgages are not eligible. May only skip one payment per loan and due date cannot exceed 30 days. Finance charges will continue to be assessed at your contract rate. Offer expires December 31, 2023.
Savings Secured/Certificate Secured - Rates listed are our best rates based on approved credit; actual rate offered may be higher depending upon applicant's credit rating and other underwriting factors. For a $3,000 Share Secured loan at 7.99% for 36 months the payment will be $95.00 per month.
Debt Consolidation Loan - Membership rules and restrictions apply. Loans and actual rate are subject to credit approval and qualifications, some restrictions may apply. Terms and conditions subject to change without notice. Actual payment may vary. For a $5,000.00 personal loan at 11.69% APR and a payment term of 36 months your monthly payment will be $166.00 per month. Cannot be combined with any other offers. Loan must be approved and disbursed during the promotional period (February 1 - March 31, 2024).

Member Loyalty Discount -
Usual credit criteria apply. Discount is available when you apply and close a closed end consumer loan such as a personal, auto, boat, motorcycle, or other closed end consumer loan. Discount does not apply to Visa, Home Equity Lines of Credit, MyLines, internal refinances of CPM debt or CPM Mortgages. Discount will be based on your membership date and cannot fall below the published AFR.  Rates and offers are subject to change and cannot be combined with other offers. Contact CPM for more information.
Summer Loan Special - APR- Annual Percentage Rate. Loans and actual rate are subject to credit approval and qualification, some restrictions may apply. Membership rules and restriction may apply. Limited time offer. Terms and conditions subject to change without notice. Actual payment may vary. For example a loan for $5,000.00 at an interest rate of 11.69% APR and a payment term of 36 months, your monthly payment would be $166.00. Offer expires August 31, 2023.

All advertised rates are subject to change without notice. Rates accurate as of January 31, 2024