Electric cars are cheaper to run than gas cars — but buying one still takes money. Credit unions often give some of the lowest auto loan rates, and many now offer special discounts or programs for electric vehicles (EVs). This guide walks you through the top credit unions to check in 2025, what they offer, and how to pick the best deal — written simply so an 8th–9th grader could follow.
Quick snapshot: Why pick a credit union for an EV loan?
- Credit unions are member-owned, so they usually aim to offer lower interest rates than banks. Investopedia
- Many credit unions now give a small rate discount (often around 0.25% APR) when you buy a qualifying hybrid or electric vehicle. This adds up over the life of the loan. Redwood Credit Union+1
- Credit unions often allow flexible terms (48–84 months), optional refinancing, and sometimes extra perks like deferred payments or inclusion of home charging station costs in the loan. Logix Bank+1
At a glance — featured credit unions (sample APRs and special perks)
The sample APRs below are taken from the lenders’ public pages (dates shown on their sites). Rates change depending on credit score, loan term, and vehicle type — always check the credit union’s page for the latest numbers.
| Credit Union | Sample APR (example) | Notable EV perk | Source |
|---|---|---|---|
| Navy Federal | 4.09% (new vehicle example). | Large, national membership base; competitive new-car APRs. | Navy Federal Credit Union+1 |
| PenFed | 3.74% (sample on auto page). | Nationwide coverage with car-buying service; competitive refinance options. | PenFed Credit Union+1 |
| Alliant CU | 5.24% (advertised new vehicle example; Tesla financing noted). | Easy online preapproval and partnerships for EVs. | Alliant Credit Union+1 |
| Adventure CU (MI) | 4.24% (EV/hybrid discounted rate example). | Explicit EV/hybrid discounted APR and additional LTV discounts. | Adventure Credit Union |
| OnPoint CU | 5.99% (green auto discount example). | 0.25% APR off for green vehicles; long terms available. | OnPoint |
(This is a sample — many other credit unions have similar EV discounts: Redwood CU, Genisys, Logix, HOPE, Edwards FCU, etc.). Edwards Federal Credit Union+4Redwood Credit Union+4Genisys Credit Union+4
How this article can help you
- Learn which credit unions commonly offer low EV rates and small green discounts.
- Compare features you should care about (APR, loan term, member access, EV-specific perks).
- Follow a simple step-by-step plan to get preapproved and pick the best EV loan.
Why some credit unions beat banks on auto loans
- Not-for-profit model: Credit unions return earnings to members in the form of lower rates and fees. Investopedia
- Local/partner programs: Some credit unions run green auto discounts or partner with dealerships and manufacturers to make EV financing simpler. Redwood Credit Union+1
- Refinance friendliness: Many CUs offer competitive refinance terms if your credit improves after you buy the car. PenFed Credit Union
Deep dive — top credit unions you should check (what they offer)
Navy Federal Credit Union
- What to know: One of the largest credit unions in the U.S. with competitive auto loan APRs for new and used vehicles. They often show nationwide sample APRs on their rates page. Navy Federal Credit Union+1
- Perks for EV buyers: Competitive pricing and strong customer service; good option for military families or those eligible to join.
- Why consider them: If you qualify for membership, Navy Federal often gives very low advertised rates for new vehicles — worth comparing with local CUs and dealer offers. Navy Federal Credit Union
PenFed (Pentagon Federal Credit Union)
- What to know: PenFed offers national auto financing and a car-buying service that can lower sticker price; sample APRs are often featured on their auto pages. PenFed Credit Union+1
- Perks for EV buyers: Competitive refinance rates and a broad car-buying network, which helps if you’re buying an EV outside your area.
- Why consider them: PenFed’s strong refinance and car-buying service can make the overall purchase cheaper even if the APR isn’t the absolute lowest.
Alliant Credit Union
- What to know: Alliant’s online process is smooth; they have examples showing rates for new vehicles (they even advertise Tesla financing examples). Alliant Credit Union+1
- Perks for EV buyers: Strong online preapproval and easy applications; membership via simple eligibility methods.
- Why consider them: Online convenience plus specific EV/Tesla financing examples make Alliant a practical choice for tech-savvy buyers.
Adventure Credit Union (Michigan)
- What to know: Adventure CU highlights an explicit EV/hybrid discount (examples as low as ~4.24% APR in some terms). Adventure Credit Union
- Perks for EV buyers: Lower APRs on eligible EV/hybrid purchases and extra discounts if financed under certain LTV thresholds.
- Why consider them: If you live in their service area or can join, they offer strong EV-specific pricing.
OnPoint Community Credit Union
- What to know: OnPoint advertises a Green Auto Discount (0.25% off) and sample APRs for green vehicles (e.g., 5.99% example). OnPoint
- Perks for EV buyers: Rate discount for qualifying green vehicles; long terms up to 84 months.
- Why consider them: Good if you prefer a credit union that explicitly rewards green purchases.
Other notable credit unions to check
- Logix Federal Credit Union — active EV financing and experiential perks (e.g., deferred first payment). Logix Bank
- Genisys Credit Union — loans that can include home charging station costs. Genisys Credit Union
- Redwood CU, Edwards FCU, HOPE CU — each advertises green-loan discounts or EV programs. Redwood Credit Union+2Edwards Federal Credit Union+2
How to compare EV loan offers — quick checklist (use this before you sign)
- APR (Annual Percentage Rate) — lower is better, but remember APR depends on credit score and term.
- Term length — longer terms reduce monthly payment but increase total interest.
- Green discounts — some CUs offer a 0.25% APR discount for qualifying EVs; confirm eligibility rules. Redwood Credit Union+1
- Fees and prepayment penalties — prefer loans without early-payoff penalties.
- Inclusion of charging station costs — some lenders let you finance a home charger with the EV loan. Genisys Credit Union
- Preapproval speed — faster preapproval lets you shop like a cash buyer. Alliant Credit Union
- Membership eligibility — check whether you can become a member and how long membership takes.
Step-by-step: How to get the best EV loan from a credit union
- Check your credit score. (Knowing your score helps estimate the APR you’ll qualify for.)
- Gather documents: driver’s license, proof of income, proof of residence, current insurance, and vehicle info if you already chose one.
- Shop multiple credit unions: Get preapproval offers from 2–4 credit unions (local and national). Aim to compare APRs and total interest for the same loan term. Navy Federal Credit Union+1
- Ask about EV discounts and inclusions: specifically ask if they give a green discount, include EV charger costs, or offer deferred payments. OnPoint+1
- Compare total cost, not just monthly payment: use the same loan length to compare total interest paid over the life of the loan.
- Choose preapproval and negotiate price at the dealership or with a private seller. A preapproval gives you bargaining power. Alliant Credit Union
- Finalize the loan after reading all terms: check for fees, conditional clauses, and the exact APR that will be locked in at closing.
Example: How much a 0.25% green discount matters (simple math)
- Imagine a $35,000 EV financed for 60 months.
- If APR = 5.50%, monthly payment ≈ $666 and total interest ≈ $5,960.
- If APR = 5.25% (0.25% discount), monthly payment ≈ $659 and total interest ≈ $5,560.
- Savings ≈ $400 in total interest — small per month, but meaningful overall.
(Exact payments depend on lender rounding and fees. Use each credit union’s loan calculator for exact figures.)
Quick comparison table (features + sample APRs with source links)
These sample APRs were taken from credit unions’ public pages (Sep 2025 examples). Your offered APR will depend on credit, term, vehicle, and promotions; always confirm on the lender’s website.
| Credit Union | Sample APR (example) | EV-specific benefits | Source |
|---|---|---|---|
| Navy Federal | 4.09% (new vehicle sample). | Broad membership; competitive new-vehicle APRs. | Navy Federal Credit Union+1 |
| PenFed | 3.74% (sample APR shown). | National car-buying service; strong refinance options. | PenFed Credit Union+1 |
| Alliant CU | 5.24% (new vehicle/Tesla example). | Smooth online preapproval; Tesla financing examples. | Alliant Credit Union+1 |
| Adventure CU | 4.24% (EV/hybrid discounted APR). | EV/hybrid discount and additional LTV incentives. | Adventure Credit Union |
| OnPoint CU | 5.99% (green auto discount example). | 0.25% APR off for green vehicles; long terms. | OnPoint |
| Logix FCU | (varies) | Deferred first payment; strong local EV financing. | Logix Bank |
| Genisys CU | (varies) | Can include home charging station cost in loan. | Genisys Credit Union |
| Redwood CU, Edwards FCU, HOPE CU | (varies) | Green loan discounts and community-focused programs. | Redwood Credit Union+2Edwards Federal Credit Union+2 |
Simple chart — sample APRs for quick visual comparison
(You may have seen a small chart above showing sample APRs for a selection of credit unions. These are examples pulled from credit unions’ rate pages, used to help compare ballpark pricing; your actual APR will vary.)
How to join a credit union (short checklist)
Many credit unions require membership. Here’s how to join quickly:
- Check eligibility: Employment, family relationships, community or geographic eligibility, or membership through a partner organization.
- Open a savings/share account: Often a small deposit (e.g., $5 or $25) makes you a member.
- Submit ID & proof of address: Same steps as opening any bank account.
- Apply for preapproval afterward. You can often do all of this online within minutes at national credit unions. Alliant Credit Union
Frequently asked questions (short & simple)
Q: Do credit unions only serve certain groups?
A: Some are open to anyone who lives or works in a region, or to members of partner organizations. Many national CUs make membership easy. Alliant Credit Union+1
Q: Is refinancing an EV a good idea?
A: Yes — if your credit score improved since purchase or if market rates drop, refinancing to a lower APR can save money. PenFed and other CUs promote refinance options. PenFed Credit Union
Q: Can I finance a home EV charger?
A: Some credit unions let you add charging station costs into the loan or offer a separate green loan. Ask the lender specifically. Genisys Credit Union
Final checklist before you sign
- Confirm the exact APR you are being offered and whether it includes any green discount. OnPoint+1
- Compare the total interest for the term you want (not just monthly payment).
- Verify fees, prepayment penalties, and whether the loan includes charger costs. Genisys Credit Union
- Get preapproval from at least two credit unions to strengthen negotiation power. Alliant Credit Union
Closing — simple advice for smart EV buyers
Credit unions remain one of the best places to look for low-interest EV financing because they balance low rates with member-friendly terms. Before you buy, do these three things:
- Get your credit score,
- Collect preapprovals from 2–3 credit unions, and
- Ask directly about green discounts and charger financing.
That’s it — do those, and you’ll likely save money over the life of your loan while driving an EV that helps the planet.
Sources & where to check (pages I used for examples)
- Navy Federal auto loan rates (sample APRs). Navy Federal Credit Union+1
- PenFed auto loans, car-buying service and refinance pages. PenFed Credit Union+1
- Alliant Credit Union auto loans and Tesla financing examples. Alliant Credit Union+1
- Adventure Credit Union EV/hybrid discounted APR page. Adventure Credit Union
- OnPoint Community Credit Union green auto discount page. OnPoint
- Logix FCU EV financing and perks. Logix Bank
- Genisys Credit Union EV financing (includes charger costs). Genisys Credit Union
- Local credit unions with green discounts (Redwood CU, Edwards FCU, HOPE). Redwood Credit Union+2Edwards Federal Credit Union+2
- Article on credit unions’ lower average auto loan rates. Investopedia
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