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St. Mary's Bank Drops Commercial Loans Rates

MANCHESTER, N.H. -- St. Mary's Bank, the nation's oldest credit union, has dropped its commercial loan rates and raised its lending threshold to woo businesses and homeowners to participate in a multi-million dollar neighborhood revitalization project.

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MANCHESTER, N.H. — St. Mary’s Bank, the nation’s oldest credit union, has dropped its commercial loan rates and raised its lending threshold to woo businesses and homeowners to participate in a multi-million dollar neighborhood revitalization project.

The $656 million credit union said it has dropped its commercial loan interest rate by 1% to 4.99%, and raised the maximum loan amount available at the discounted rate from $100,000 to $250,000. For loans over $250,000, interest rates will be blended with “market rates,” according to St. Mary’s Bank.

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