Loan Interest Rebate

re• bate- Pronunciation: 'rE-'bAt, Function: noun : a return of a part of a payment.

We are boasting! Since First quarter 2004 Midland Co-op Credit Union has paid a quarterly Loan Interest Rebate to its loyal members who have loans with us. The rebates, which have ranged from 10% to 15% of the finance (interest) charge paid on the loan, are deposited into the member's share saving account.