Credit Union Personal Loan

 

Couple Shaking Hands

If you need help financing a big expense, a personal loan may be the right option for you. You can think of a personal loan as an investment in yourself; you can borrow the money you need to go to school, pay off debts, or improve your home from a financial institution like T&I Credit Union and pay it back in the future.

About Personal Loans

A personal loan is a fixed amount loan that you receive in a lump sum and repay with interest by making monthly payments. With an unsecured personal loan, or one offered without collateral, you have more flexibility in how you spend the money.

What To Know About Interest Rates

The interest rate greatly impacts how expensive it is to borrow money. A personal loan interest rate is determined primarily by your credit score and secondly by the amount of the loan and your income.

Loan applicants with excellent credit can expect a relatively easy personal loan search and to qualify for the lowest rates for personal loans. Borrowers with poor credit may have to pay higher interest rates on their loans.

 

Credit Card

You might not think of a credit card as a personal loan, but it is a way to borrow money against your future. With a T&I Credit Union credit card, you can earn one point in rewards for every dollar spent.

Taking out a credit card and paying your credit bill in full each month is a great way to improve your credit report by building a positive credit history. Making timely payments also ensures that you don’t pay interest on your purchases.

Depending on your credit history, you may be eligible for limits up to $10,000 at 10.90%* interest.

Visa Card
Interest Maximum Loan Amount
10.90% $10,000*

*All Loans are subject to credit review and approval. Rates and offers are subject to change without notice. Actual rates may vary based on credit score. Existing T&I loans excluded. Effective 01/01/2019.

Debt Consolidation

If you struggle to keep on top of debt payments, you may want to consider debt consolidation, or merging multiple debts into one. This process can help you save time and money by moving debt away from lenders with high-interest rates.

Debt Consolidation Rates

Term

Rate (APR)

Maximum Loan Amount

24 Months

5.00%

$10,000*

36 Months

6.00%

$10,000*

48 Months

7.00%

$10,000*

T&I Credit Union offers personal loans of up to $10,000 to consolidate debt. Loan payments on a 2-year schedule have a starting APR of 5%*, while 3 and 4-year payment options have starting APRs of 6%* and 7%,* respectively.

Click Here to Apply

*Per qualified borrower

*All Loans are subject to credit review and approval. Rates and offers are subject to change without notice. Actual rates may vary based on credit score. Existing T&I loans excluded. Effective 01/01/2021 to 03/31/2021.

Life Loans

You can finance your wedding or vacation through a life loan.

Life Loans
Loan TypeRateTermMaximum Loan Amount
Holiday Loan 5.99%

12 Months

$2,500*
Wedding Loan 6.99% 24 Months $10,000*

We offer members loans of up to $2,500 for a 12-month duration at a starting rate of 5.99%* for holidays. For weddings, we offer up to $10,000 for a 24-month duration at a starting rate of 6.99%.*

Click Here to Apply

*Per qualified borrower

*All Loans are subject to credit review and approval. Rates and offers are subject to change without notice. Actual rates may vary based on credit score. Existing T&I loans excluded. Effective 01/01/2021 to 03/31/2021

Student Loans

T&I Credit Union makes it easier for you to invest in your own human capital with student loans through our partnered company, Student Choice. Undergraduate students making satisfactory progress toward a degree can have the peace of mind to focus on studies once they qualify for a student loan.

Asking a trusted person to co-sign your loan can help you meet the requirements or qualify for a lower rate.

  • Their user-friendly website will help you every step of the way:
    • Before applying, applicants answer some basic questions to see if they are eligible
    • Once eligible, users are taken right to the application page

*Note: Use a computer when applying for a student loan. Tablets and smartphones are not compatible with the application site

Go to Student Choice

Share Secured Loans

A share secured loan can provide the funds you need now and even positively affect your credit score when you pay it off in time. We’ll offer you a loan that matches the amount in your savings account and use your savings account as security for the loan.

Rather than paying for your expenses directly from your savings, you can borrow with a share secured loan which prevents you from withdrawing your savings until you have repaid the loan.

Because the loan is secured by your savings, even borrowers with bad credit can often qualify for a share secured loan.

The rates and terms of our share secured loans are based on our new auto loan rates, which are subject to change and approval.

*All Loans are subject to credit review and approval. Rates and offers are subject to change without notice. Actual rates may vary based on credit score. Existing T&I loans excluded. Effective 01/01/2021 to 03/31/2021.

Signature Loans

Our signature loans are unsecured personal loans that weigh your credit score and finances to determine the APR. Our borrowers generally use signature loans for unexpected car repairs, medical expenses, and home improvement projects.

We offer qualified borrowers up to $10,000 for up to 36 months at a starting APR of 15%.*

Signature Loans
Rate Term Maximum Loan Amount
15.00% 36 Months $10,000*

Click to Apply

*All Loans are subject to credit review and approval. Maximum of $10,00 per qualified borrower. Rates and offers are subject to change without notice. Actual rates may vary based on credit score. Existing T&I loans excluded. Effective 01/01/2021 to 03/31/2021.

Applying For a T&I Credit Union Personal Loan

You can start the process of securing a loan for personal expenses by applying online. You’ll typically hear back from us within one business day. For an estimation of your monthly payments for a personal loan, try out our loan calculator.

For a more accurate estimate of your interest rate payments, you can opt for a soft credit inquiry. This will give us the information we need to determine your interest rate without damaging your credit score.

To receive a personal loan from T&I Credit Union, you’ll need to authorize a hard credit pull, which may temporarily lower your credit score, but usually not by more than 5 points.

Tips to Improve Your Personal Loan

Credit Score

If you have a poor credit score, you may see undesirable personal loan rates. To improve your rates try to find a co-signer with a great credit score to vouch for you. A co-signer will act similar to collateral in making your application more credit-worthy and less risky for the lender. Keep in mind that co-signing a loan is a big ask; if you fail to repay your loan the debt will fall on your co-signer.

The rate for your personal loan will vary based on what you intend to use it for. To minimize your expenses, search for a loan with the lowest rate that will afford you the temporary financial assistance you need.

Consider applying for a secured loan to lower your interest rate. Secured loans use collateral, like a savings account or car, to guarantee your loan, thereby lowering the risk to the lender.

Make sure you are using your personal loan as a part of a balanced financial plan. T&I Credit Union Financial Services can help you assess your overall financial well-being and determine if a personal loan is right for you.

Benefits of T&I Credit Union Personal Loans

T&I Credit Union is committed to helping people improve their lives by allowing them to borrow against their future for the help they need now.

We also offer additional money-saving tips and member benefits to help you make the most of your money. As a T&I Credit Union banking, you’ll have access to online banking, credit score analysis, and a financial tracker.

Contact Us

A personal loan from T&I Credit Union is a great way to finance unexpected expenses or investments in your future. We’ll work with you to provide you with unparalleled support to help you navigate your current financial situation. Call us at (800) 338-3908 for more information and to find out how we can assist you.

*All Loans are subject to credit review and approval. Maximum of $10,00 per qualified borrower. Rates and offers are subject to change without notice. Actual rates may vary based on credit score.

 

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