Personal Loan Comparison
Compare our personal loan options to find out which one is best for you and your borrowing needs.
|Personal Line of Credit (PLOC)||Personal Loans||VISA® Credit Card|
|Description||A Personal Line of Credit is an open ended loan, which means you can continuously access funds and you pay interest only on the funds you use.||With a personal loan, you will receive a specified amount of money to be paid back in installments. You have a set monthly payment which includes principal and interest.||Our VISA® Credit Cards offer three great options, Travel & Gift Rewards, CashBack Rewards and Rate Card. You must pay a minimum amount each month which includes interest.|
|Usage||A personal line of credit is a good option if you need to borrow money incrementally for things like home improvement projects, holiday shopping, big ticket items and emergencies.||You can use a personal loan to consolidate credit card debt, take a vacation or purchase an older model vehicle.||A credit card is used for everyday purchases as needed, such as gas, groceries and dining out.|
|Rate||Prime + 3%, Prime + 5%, Prime + 9%* Prime is based on Wall Street Journal and creditworthiness
Example: A 750 credit score would receive a rate of prime+3%, If the prime rate is 4.75%, then the rate would be 7.75%
|9.00% – 18.00%* Based on term and creditworthiness||7.99% – 15.99% Based on program and creditworthiness|
|Fixed/Variable||Variable Rate Can change monthly based on Wall Street Prime Rate||Fixed Rate||Non-Variable Rate Non-Variable rate, subject to change at the discretion of the Credit Union pricing committee. Could also change each year based on annual credit review.|
|Loan Amounts||Up to $10,000||Up to $15,000||Up to $25,000|
|Automatic Payments||Required for 0.50% rate discount||Required for MoneyStrong and for 0.50% Rate Discount||Not Required|
|How to access funds||Transfer from PLOC to Checking or Savings Account or withdraw funds at a branch||Funds will be deposited to Checking or Savings Account or a check will be generated||Use credit card to access available funds|
Still Have Questions?
Stated rates are .50% higher without automatic payment.