Page Banner image

Personal loan

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: $19.76 per month per $1,000 borrowed at 6.90%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

Member Perks

As a member of Spectrum Credit Union, you get high-quality, affordable, customized financial services. But we don’t stop there. What’s life without a little fun? What’s credit union membership without some extra perks?

See More Benefits

Personal Line of Credit

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.

Fixed rates starting as low as 7.90% APR2

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.)

1 Rates shown are "as low as." Rates are subject to change without notice.
2 APR = Annual Percentage Rate
3 Member must complete and submit a full loan application. New accounts subject to application, credit qualification, and income verification. The minimum loan amount is $2,000. Annual Percentage Rate (APR) and maximum loan amount will be based on approved credit. Minimum gross monthly income of $1,000 required. Other restrictions may apply.
4 Annual Percentage Rate (APR) and account limit will depend upon your credit history and will be determined when a credit decision is made. Other restrictions may apply.
5 Member must complete and submit a full loan application. New accounts subject to application, credit qualification, and income verification. The minimum loan amount is $2,000. Annual Percentage Rate (APR) and maximum loan amount will be based on approved credit. Minimum gross monthly income of $1,000 required. Other restrictions may apply.

Ready to become a member? Let’s get started.

If you’re eligible for membership, we’re ready to hear from you. Not sure if you’re eligible? You can check if you qualify here.

Why join Spectrum Credit Union? Learn more.

From everyday finance to life’s big money moments, it’s better when you belong.