Life isn’t always predictable. Whether you’re stuck with an unexpected medical or tax bill or you need to take an unanticipated trip, a personal loan can help cover the costs.

A personal loan lets you borrow a lump sum of money and pay it back over a set time period.

Spectrum Credit Union offers personal loans at low fixed rates. We work with you to find the best loan package for your situation — so while life may be unpredictable, your loan payments won’t be. 

Rate example: $20.23 per month per $1,000 borrowed at 7.90%¹ APR² for 60 months

Personal loans can help you:

• Pay off unexpected medical or tax bills to avoid additional fees or penalties
• Consolidate multiple payments or debts into one convenient loan
  
  

Advantages:

• Save money by bringing high-interest debt into a lower rate with set terms
  
• Borrow up to $25,000³
  
• Flexible terms from 12 to 60 months³

Do you ever wish you had a revolving credit you could access instantly when you need it? A personal line of credit may be right for you.

Instead of borrowing one lump sum as a loan, a personal line of credit lets you borrow what you need, when you need it, only paying interest on what you take out. With a maximum limit set at the outset, you can borrow up to that amount at varying times. This is a great solution for those who want the peace of mind of an emergency fund without needing to borrow against their home or other assets.

Rate example: $21.23 per month per $1,000 borrowed at 9.90%¹ APR² for 60 months

A personal line of credit can help you: 

• Access varying amount of funds for different purposes at different times
  
• Secure quick access to funds for a later time
  
  

Advantages:

• Flexibility to take out small sums periodically as opposed to one lump sum
  
• Interest accrues only on what is used
  
• Available credit limits between $500 and $25,000⁴
  
• Monthly payments based on the balance of your loan instead of the maximum limit
  
• No collateral requirement (property or other assets); eligibility based on creditworthiness⁵
  

How it works

Once approved, you can access your line of credit by writing a check or transferring funds from your line of credit to another account. There are three ways to transfer line of credit funds:

1. Use Online Banking or Mobile Banking
   
2. Stop by your local Spectrum Credit Union branch
   
3. Give us a call at 800-782-8782 Monday through Friday, 5am to 9pm, and Saturday, 8am to 4pm Pacific Time. (For those outside the U.S., call 510-251-6000.)