Personal & Share Secured Loans
Need Extra Cash? Consider a Personal Loan!
Whether you’re facing unexpected expenses, medical bills, or looking to consolidate debt, a personal loan can provide the financial boost you need to get back on track.
Why Choose a Personal Loan?
- Versatility: Use the funds for a variety of needs, from covering emergency costs to purchasing high-ticket items like fitness equipment or a road bike.
- Financial Freedom: Regain control of your finances by consolidating debt and lowering your monthly loan payments.
- Low Rates & Flexible Terms: Rates as low as 12.49% APR*. No collateral is required and payment amounts are fixed.
| Loan Type | Annual Percentage Rate (APR)* | Available Terms | Estimated minimum monthly payment based on available term and $20,000 loan amount |
|---|---|---|---|
| Rates Effective: 02/07/2025 | |||
| Personal Loan | 12.49% - 18.00% | Up to 60 months | $449.85 at 12.49% APR* |
| Share Secured | Call or Text for Current Rate | Up to 120 months | $360.72 at 3.10% APR* |
| CD Secured | Call or Text for Current Rate | Determined by CD Maturity | $375.31 at 4.69% APR* |
*APR=Annual Percentage Rate. The APR you qualify for is based on repayment period and your credit qualifications, including credit score, and any applicable rate discount. Click here for more rates and details.
Debt Consolidation Loans
Some people use personal loans to move their debt onto a single loan with a lower interest rate, also known as a debt consolidation loan.
A debt consolidation loan is a personal loan that you use to pay off other debts. For instance, you might use a debt consolidation loan to pay off two credit cards, the rest of your auto loan and a medical bill. Then instead of having four payments, you just have one loan with a single monthly payment.
Ideally, you want your new debt consolidation loan to have a lower interest rate than the debts you’re paying off, so you can save money on interest while simplifying your finances.
Pros:
- You can simplify your finances by consolidating multiple payments down to a single payment.
- You may be able to save money with a lower interest rate.
- You may get a boost to your credit score when you pay off your other debts and make your personal loan payments on time every month.
Cons:
- If you use a debt consolidation loan to pay off your credit cards, but then you start using your credit cards again, you could end up going into more debt. It’s important to stick to a budget and avoid more debt.
- The interest rate for an unsecured personal loan could be higher than the rate for a secured loan, like a home equity loan. Compare rates and try to only use a debt consolidation loan to pay off higher interest debt, like credit cards.
If you decide a debt consolidation loan is right for you, here are the next steps.
- Add up all the debt you’d like to pay off, so you know how big of a loan you need.
- Apply for a personal loan (AKA debt consolidation loan) through our online application.
- Use the money to pay off your debt right away. Then you’ll just have one monthly payment on your new fixed rate loan.
You can use our debt consolidation loan calculator to see how this will affect your payments.
You may also want to check your credit score. If you have a loan with us, you can view your FICO® Score for free.
*FICO® is a registered trademark of Fair Isaac Corporation in the United States and other countries.
A personal loan is one common way to consolidate and simplify your debt, but there are other options.
Some people transfer credit card debt from multiple high interest cards onto a single lower interest credit card.
You can also consider a home equity loan. This is a secured loan borrowing from the equity in your home.
Share & CD Secured Loans
Building good credit is important for financial growth, but obtaining credit can be difficult at the beginning. A share secured loan can be a great first step in establishing or rebuilding credit. This loan lets you borrow money using the balance in your savings account or CD as collateral.
You might wonder why you shouldn’t just use that cash to buy what you need. Paying for purchases with cash won’t build credit. When you make a monthly payment with a loan, it is reported to the credit bureaus and you are building credit.
Contact us for more details.
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