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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: $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

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.

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.)

Rates shown are "as low as." Rates are subject to change without notice.

Rates shown are "as low as." Rates are subject to change without notice.
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 $500. 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 $500. 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.

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