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Rates

Lower loan rates. Higher savings and checking rates. Check them out.

Model Years 2021 & Newer, up to 60 Month Term 5.99% APR*
Model Years 2021 & Newer, up to 72 Month Term 6.49% APR*
Model Years 2021 & Newer 73 - 84 Month Term, Minimum $50,000 Loan 6.99% APR*
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Rates effective August 3, 2023, excluding Student Loans, and subject to change without notice.
Student Loan Rates effective July 1, 2023.

*APR = Annual Percentage Rate. All rates listed are "as low as" and based upon credit history. Home Equity Line of Credit is a variable rate product but will not exceed 18% APR. **The Private Student Loan and Student Loan Refinance variable rate products will adjust quarterly on the first of the month using the Prime Rate as published in the Money section of The Wall Street Journal on the first business day of the preceding month. †Rates shown for the Student Loan Refinance products reflect a .25% discount for automatic electronic payments.

For our current mortgage rates, please click below:

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Rates for mortgages change daily and are subject to change without notice.
 

High Yield Savings
Balance Dividend APY*
$5 - $9,999.99 0.00 % 0.00 %
$10,000 + 3.20 % 3.25 %


Incentive Checking
Balance Dividend APY*
$0 - $25,000 1.49% 1.50%


Certificates
Term Dividend APY*
13 Months 3.45 % 3.50 %
12 Months 0.15% 0.15 %
24 Months 0.15 % 0.15 %
36 Months 0.15 % 0.15 %

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Rates effective September 25, 2023 and subject to change without notice.

* APY = Annual Percentage Yield. Rates are subject to change. Fees may reduce earnings.

Minimum deposit amount of $500 for Certificate of Deposits. Penalty for early withdrawal of Certificate of Deposits. Novation deposits are federally insured up to $250,000 by the NCUA.

For Incentive Checking: To receive dividends, you must meet the following requirements per month: (1) one payroll direct deposit, (2) must be enrolled in eStatements with a valid email address and (3) 12 Visa debit card purchase transactions that must average at least $5. The 12 Visa debit card purchases excludes cash advances, ATM transactions, returned purchases, disputed or unauthorized/fraudulent transactions, or fees caused by check card use. Accounts that meet the requirements will receive 0.50% APY on balances up to $25,000. Resulting APY if requirements are not met or for balances in excess of $25,000 is 0%. Incentive Checking rates and program subject to change.


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Once a member, always a member

Being a member of Novation means you are part owner of a financial institution. Because we are a non-profit, we return our excess earnings to our members in the form of higher savings rates, lower loan rates and less fees. Your membership with Novation is valid wherever your lifetime journey takes you professionally and personally.

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