Consumer Loans

Auto Loans

You can either apply online via application links below or call our Loan Specialist directly! We are always here to help.

New Auto Loan

APR*	Maximum Term**	Payment/$1,000
6.125%	3 Years	$30.49
6.250%	4 Years	$23.60
6.500%	5 Years	$19.57

Rates reflect a .25% discount for automatic payment from a Mechanics Cooperative Bank Checking Account. Add .25% to the new auto loan rates if automatic payment is not taken from a Mechanics Cooperative Bank Checking Account. Maximum of 100% of purchase price of vehicle not previously registered. The down payment must bring the loan amount to a value not to exceed NADA Retail Value. A purchase order must be submitted with all vehicle loan applications. Non-title security (U.C.C., etc.) will be considered at a rate of 0.50% higher than the above title vehicle rates. Insurance binder is required on all vehicle financing before loan proceeds are disbursed.

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Used Auto Loan

APR*	Maximum Term**	Payment/$1,000
6.750%	3 Years	$30.76
7.000%	4 Years	$23.95
7.240%	5 Years	$19.91

Available for autos no more than 5 years old. Rates reflect a .25% discount for automatic payment from a Mechanics Cooperative Bank Checking Account. Add .25% to the used auto loan rates if automatic payment is not taken from a Mechanics Cooperative Bank Checking Account. The down payment must bring the loan amount to a value not to exceed NADA Retail Value. A purchase order must be submitted with all vehicle loan applications. Non-title security (U.C.C., etc.) will be considered at a rate of 0.50% higher than the above title vehicle rates. Insurance binder is required on all vehicle financing before loan proceeds are disbursed.

*Annual Percentage Rate (APR)

** 3 years equals 36 fixed monthly payments. 4 years equals 48 fixed monthly payments and 5 years equals 60 fixed monthly payments (4 and 5 years for auto loans only). Product offers, rates and all terms and other information provided are subject to change without notice. Subject to credit approval.

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Passbook Loans

Borrow money without going through a lengthy approval process. A Passbook loan uses the money in your savings account as collateral, allowing you to borrow a percentage of your available funds.

man checking on his balance in his passbook loan account

Passbook Installment Loan

Rates Accurate as of February 10, 2025

APR*	Maximum Term**	Payment/$1,000
3.05%	5 Years	$2.97

Only one loan is to be outstanding against any one passbook. Sample loan rate above will be 3.00% greater than the current rate of the deposit account. Loan amount should not exceed 90% of passbook balance. Minimum loan is $500.00. Rate may increase after consummation. Passbook secured loan rates are subject to increase if the deposit rate increases. Rate and payment indicated above are based on a passbook rate of .05% and interest only payments.

*Annual Percentage Rate (APR)

** 3 years equals 36 fixed monthly payments. 4 years equals 48 fixed monthly payments and 5 years equals 60 fixed monthly payments (4 and 5 years for auto loans only). Product offers, rates and all terms and other information provided are subject to change without notice. Subject to credit approval.

Apply now

Download application

Overdraft Line of Credit

With our Choice Overdraft Protection Line of Credit, you’ll never have to worry about returned check fees or being embarrassed by an inadvertent overdraft. Overdraft Protection up to $2,500 is available to qualified applicants

Subject to credit approval. $25 annual fee. $15 minimum monthly payment.

Apply now

Download application

life preserver tied up at a dock on a lake

Mass Save HEAT Loans

As a proud lending partner in the Mass Save HEAT Loan Program, Mechanics Cooperative Bank is dedicated to helping homeowners make energy-efficient changes to their homes. From the attic to the basement, we’re here to help you with your home energy upgrades.

The Mass Save HEAT Loan offers zero interest financing opportunities up to $25,000 total (terms vary based on income level) for a variety of energy-efficient upgrades—including insulation, heat pump installations, batteries, and more!

home nestled in the snow surrounded by trees

Learn More

For more information on Mass Save and HEAT Loans, please visit the Mass Save Website.

Visit the MassSave site

Apply Online

Apply using the application below by selecting “HEAT Loan” from the drop down menu. Or, give us a call us at 1-888-MECHANICS (632-4264) and a member of our team will guide you through the loan process.

Apply now

Manufactured Homes

Apply now

Download application

crane lifting a pre-fabricated wall into place

Manufactured Home Rates

Model Year	Maximum Term
2004-2015	180 Months
2016 and Newer	240 Months