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MILITARY LOANS

Discounted interest rates for active duty members and veterans

If you’re a veteran or currently serving in the Armed Forces, you may qualify for discounted consumer loan rates at Service Credit Union, such as personal, auto and motorcycle loans. We honor our members who serve their country with a choice of exclusive personal loan benefits: Some provide a discount for military personnel who earn moderate incomes; others offer even more savings for active duty personnel in combat zones. In addition, veterans of any age are also eligible for discounted loan rates.

Learn more about our military loan benefits below, and find out if you qualify.

STAR Loans

Our STAR Loans are designed to make it that much easier for military employees of moderate income to get the cash they need, for any purchase. If your military service pay is $2,872 a month or less and you have the STAR account with direct deposit, you’ll receive a discount of up to 0.75% APR* on your consumer loan.

In addition, civilians whose annual income is $51,600 or less also qualify for a STAR Loan at a 0.50 percent discount.**

Warrior Loans

If you’re a member who’s currently serving active duty in a combat zone as defined by Service Credit Union, or if you have returned from active duty in the last 120 days, you may qualify for a discount of up to 1% APR on your consumer loan.***

Veteran Loans

If you’ve ever served your country in the Armed Forces, Service Credit Union wants to honor your service. Members who are veterans of any age qualify for our reduced-interest loans, up to a 0.35% APR discount.****

Please click here to see a full listing of our rates.

*APR= Annual Percentage Rate. Must maintain direct deposit of entire net pay (not allotment) into a Service Credit Union (SCU) checking account to qualify. Must be a member of SCU or eligible for membership to apply. Civilian STAR loan interest rate reduction is up to .50% whose annual gross income does not exceed $49,800.00. This discount requires direct deposit of net pay (not allotment) and selection of the automatic loan payment feature. The .75% discount for special programs may not apply with all promotions.

**APR= Annual Percentage Rate. Must maintain direct deposit of entire net pay (not allotment) into a Service Credit Union (SCU) checking account to qualify. Must be a member of SCU or eligible for membership to apply. Civilian STAR loan interest rate reduction is up to .50% whose annual gross income does not exceed $51,600. This discount requires direct deposit of net pay (not allotment) and selection of the automatic loan payment feature. The .50% discount for special programs may not apply with all promotions.

*** APR equals Annual Percentage Rate. In order to qualify for the warrior discount, the member must: be assigned to or returned from a peacekeeping operations, hostile environment, or a combat/war zone area in the past 120 days with orders or LES notating “Imminent Danger Pay” or “Hostile Fire Pay”, have earned a purple heart, bronze star or higher, or be a Department of Defense civilian, military, reserve or national guard member (active duty or retired) with 20 or more years of service. Direct deposit of entire net pay (not allotment) and the automatic loan payment transfer option is required.

****Must maintain direct deposit of entire net pay (not allotment) into a Service Credit Union (SCU) checking account to qualify. Must be a member of SCU or eligible for membership to apply. A Veterans Loan interest rate reduction of .35% may only be provided to qualified members. This discount requires direct deposit of net pay (not allotment) and selection of the automatic loan payment feature. The .35% discount for special programs may not apply with all promotions. Must maintain direct deposit of entire net pay (not allotment) into a Service Credit Union checking account to qualify.