Airplane Loans
Take to the skies with an airplane loan at a competitive rate.
Apply Now
Direct Deposit Discount
Receive a 0.25% Annual Percentage Rate (APR) discount on your airplane loan when you set up direct deposit into your Credit Union checking account.
AIRPLANE LOAN DETAILS
Each airplane loan is unique, but this list will provide some general information about our loan guidelines.*
- Finance a new or used small aircraft (549 horsepower or less).
Note: Not available for kit or experimental aircraft. - There is no age restriction on the aircraft.
- Loan terms of up to 120 months are available.
- Maximum loan amount is dependent on aircraft value.
- Downpayment may be required.
- There are no prepayment penalties.
GET YOUR PRE-FLIGHT CHECKLIST
A lot of preparation goes into making a purchase like this. The more you know in advance, the faster you can take off in your new aircraft. Here's a list of documents and information to have ready before you apply:
- Details on aircraft including year, make, model, “N” number and photographs (View our Aircraft Spec Sheet or VREF resources.)
- Pre-purchase inspection report
- Signed purchase agreement or bill of sale with seller and lien information
- One year of prepaid insurance – documentation required before funding
- Aircraft escrow/title company
- Executed purchase agreement with the title Information from the chosen company
Note: Loans for aircraft used for business purposes must be processed as a business loan. - Recommended company list:
AIC Title Service | Phone (800) 288-2519
Powell Aircraft Title Service | Phone (800) 776-7287
- Executed purchase agreement with the title Information from the chosen company
For a complete of items needed for your loan, download this checklist.
LOAN PROCESS
Once you've completed your pre-flight checklist, it’s time to get started.
a. Completing your application takes just a few minutes.
b. Approval can typically occur within 48 hours.
2. Processing time can vary depending on how much information is available to start – generally within 30 days.
3. Closing and funding your loan can often happen on the same day.
a. Funds are disbursed by the escrow company.
Have questions or need additional help?
To reach our specially trained loan officers, use our contact form.
To upload documents to your loan application:
- Log into online banking and select "Manage Applications" from the "Apply Now" menu.
- Click on the “Upload” icon.
Our Rates^
-
APR as low as
3.99%
New Auto
Up to 36 Months
-
APR as low as
4.49%
Used Auto
Up to 36 Months
-
APR as low as
4.74%
New Auto
Up to 60 months
-
APR as low as
5.24%
Used Auto
Up to 60 months
-
APR as low as
6.99%
RV
Vehicle Loans
-
APR as low as
6.74%
Boat/Airplane
Vehicle Loans
Rates Subject to Change. APR=Annual Percentage Rate. Rates Effective April 11, 2025.
Our Rates^
-
APY as high as
2.02%
Savings
Share/IRA Accounts
-
APY as high as
4.25%
Short-Term Share Certificate
Share Certificate
-
APY as high as
4.05%
Share Certificate
Share/IRA Certificates
-
APY as high as
4.07%
Ladder Certificates
Share/IRA Certificates
-
APY as high as
0.40%
Priority Checking
Checking Accounts
-
APY as high as
0.25%
Flagship Checking
Checking Accounts
Rates Subject to Change. APY=Annual Percentage Yield. Rates Effective July 1, 2025.
Our Rates^
-
APR as low as
6.210%
15-Year Fixed
Home Loans
-
APR as low as
6.710%
30-Year Fixed
Home Loans
-
APR as low as
6.683%
5/1 Arm (30-Year)
Home Loans
-
APR as low as
7.250%
5/10 Fixed
Owner Occupied HELOC
^Home Loan Rates and Information and HELOC Rates and Information
Rates Subject to Change. APR=Annual Percentage Rate. Rates Effective March 17, 2025. View Full Disclosures.
Our Rates^
-
APR
15.00% - 17.00%
Signature Cash Back
Credit Cards
-
APR
12.75% - 18.00%
Platinum Rewards
Credit Cards
-
APR
11.25% - 18.00%
Platinum Low Rate
Credit Cards
-
APR
16.49%
Platinum Secured
Credit Cards
Rates Subject to Change. APR=Annual Percentage Rate. Rates Effective July 1, 2025.
Our Rates^
-
APY as high as
0.15%
Business Checking
Checking Accounts
-
APY as high as
0.40%
Business Savings Account
(Share) Savings Accounts
Rates Subject to Change. APY=Annual Percentage Yield. Rates Effective July 1, 2025.
Our Rates^
-
APR
12.99% - 18.00%
Platinum
Credit Cards
Rates Subject to Change. APR=Annual Percentage Rate. Rates Effective January 1, 2025.
Our Rates^
APR as low as
3.99%
New Auto
Up to 36 Months
APR as low as
4.49%
Used Auto
Up to 36 Months
APR as low as
4.74%
New Auto
Up to 60 months
APR as low as
5.24%
Used Auto
Up to 60 months
APR as low as
6.99%
RV
Vehicle Loans
APR as low as
6.74%
Boat/Airplane
Vehicle Loans
Rates Subject to Change. APR=Annual Percentage Rate. Rates Effective April 11, 2025.
APY as high as
2.02%
Savings
Share/IRA Accounts
APY as high as
4.25%
Short-Term Share Certificate
Share Certificate
APY as high as
4.05%
Share Certificate
Share/IRA Certificates
APY as high as
4.07%
Ladder Certificates
Share/IRA Certificates
APY as high as
0.40%
Priority Checking
Checking Accounts
APY as high as
0.25%
Flagship Checking
Checking Accounts
Rates Subject to Change. APY=Annual Percentage Yield. Rates Effective July 1, 2025.
APR as low as
6.210%
15-Year Fixed
Home Loans
APR as low as
6.710%
30-Year Fixed
Home Loans
APR as low as
6.683%
5/1 Arm (30-Year)
Home Loans
APR as low as
7.250%
5/10 Fixed
Owner Occupied HELOC
^Home Loan Rates and Information and HELOC Rates and Information
Rates Subject to Change. APR=Annual Percentage Rate. Rates Effective March 17, 2025. View Full Disclosures.
APR
15.00% - 17.00%
Signature Cash Back
Credit Cards
APR
12.75% - 18.00%
Platinum Rewards
Credit Cards
APR
11.25% - 18.00%
Platinum Low Rate
Credit Cards
APR
16.49%
Platinum Secured
Credit Cards
Rates Subject to Change. APR=Annual Percentage Rate. Rates Effective July 1, 2025.
APY as high as
0.15%
Business Checking
Checking Accounts
APY as high as
0.40%
Business Savings Account
(Share) Savings Accounts
Rates Subject to Change. APY=Annual Percentage Yield. Rates Effective July 1, 2025.
APR
12.99% - 18.00%
Platinum
Credit Cards
Rates Subject to Change. APR=Annual Percentage Rate. Rates Effective January 1, 2025.
Related Products
We have other loan options to help you fly.
Pilot Loan Refinance
For pilots who've obtained their license and are still paying for their flight training, we can help with flexible repayment options through our partnership with Student Choice.
Hangar Home Loans
If you've ever dreamed of parking your plane at home, our Hangar Home Loan* is perfect for you.
Additional Aviation Loans
No one understands the airline industry like we do, which is why we’ve designed many of our products with you in mind. Take a look at our other aviation-related loan options.
Pilot Loan Refinance
For pilots who've obtained their license and are still paying for their flight training, we can help with flexible repayment options through our partnership with Student Choice.
Hangar Home Loans
If you've ever dreamed of parking your plane at home, our Hangar Home Loan* is perfect for you.
Additional Aviation Loans
No one understands the airline industry like we do, which is why we’ve designed many of our products with you in mind. Take a look at our other aviation-related loan options.
Airplane Loan FAQs
- Verify the ownership history and confirm there are no existing liens or claims against the aircraft through the FAA Registry
- Ensure all documentation is correct and in order to transfer ownership with a clear title
- Provide escrow services for the buyer and the seller reducing any financial risks for all parties
- Perfect the Credit Union’s security interest in the aircraft
The aircraft escrow company will:
You may choose to work with one of our preferred companies or choose your own escrow company. Just provide your loan officer with the contact information of the company you and the seller have chosen, and we’ll get in touch with them.
We require full coverage insurance on the aircraft for ground and air use with the borrower as the primary insurance holder. The policy will be in place at the time of closing and must include a loss payable endorsement, or its equivalent, in favor of the Credit Union. The Credit Union must also be listed as the certificate holder and loss payee and the policy must contain a breach of warranty clause. The maximum deductible allowed is $1,000.
A breach of warranty clause in an insurance policy states that if the insured fails to comply with a specific warranty (a condition or promise in the policy), the insurer may deny coverage or void the policy, even if the breach is unrelated to the actual loss.
For example, in aviation insurance, a warranty might require only qualified pilots to operate the aircraft; if an unqualified pilot flies it—even without causing a claim—the insurer could deny coverage due to breach of warranty.
Yes, however, you'll have to apply for a loan through our Business Services Department and qualify for a business loan in order to do so.
* Loans are subject to credit approval and Credit Union lending guidelines. Member must be in good standing. See our Auto & Recreational Loans Rates for more information. A discount can be given for direct deposit to a member’s Credit Union checking account on an airplane loan. On a $75,000 airplane loan with no down payment and a 60-month term at 6.99% APR, the approximate monthly payment would be $1,484.94. This sample payment is calculated prior to Direct Deposit discount.
