Personal Loans

We can provide financing for almost any purpose. Members can obtain a personal loan with or without collateral. Personal loans can be installment contracts or line of credit contracts. Read the information below for detailed information on the different types of personal loans available.

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Signature Loans

Signature installment loans are available at the Credit Union with terms from 6 months to 5 years. Installment loans insure that a loan will be retired after a fixed period of time. It is often easier to budget with an installment loan rather than an open end loan such as a credit card. There are a variety of payment methods available. Members can elect to have a loan payment automatically transferred from a Credit Union savings or checking account, or by makeing payments in person. The rates on Credit Union installment loans are usually lower than the rates found on most credit cards.

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Personal Line of Credit
Members can establish a special line of credit that is automatically advanced in person or by overdrawing a checking account. Much like a credit card, a personal line of credit can be advance up to a pre-approved limit. Like a credit card, the loan payment is a percentage of the outstanding balance.
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Share Secured Loans
Members can borrow using the balance of a savings account as collateral. Why would a member do this? The rate of interest on a share secured loan is less than other forms of credit. Often members take out a share secured loan to re-establish credit or to keep a savings balance intact.