How to Get a Loan From a Credit Union

How to Get a Loan From a Credit Union

Published: December 24, 2018

Whether you’re looking for a home loan, auto loan, personal loan, or anything in between—you can likely borrow the money you need from a credit union. Taking out a loan through a credit union rather than a bank or other financial institution offers you many benefits, including low interest rates and other favorable loan terms.

Not sure where to begin when it comes to getting a loan from a credit union? Santa Clara County Federal Credit Union can help!


Consider the Loan Type

Start by identifying the specific type of loan you need so you can explore the terms offered by your credit union. If you’re looking to pay off credit card debt, for example, taking out a personal loan to consolidate that debt may be your best option. At County Federal, we offer personal loans with rates as low as 9.365% APR1 and repayment terms of up to 48 months. If you’re looking for a line of credit, secured loan, home loan, or auto loan, we can help you there as well. We strive to offer the most competitive interest rates available on each type of loan, along with flexible repayment terms to meet your needs.

 

Become a Credit Union Member

In order to borrow from a credit union, you will typically need to become a credit union member. Fortunately, joining a credit union is easier than ever—and by doing so, you’ll open yourself up to reaping all kinds of other benefits, including high-yield savings accounts, car buying services, and more.

 

Submit an Application

Applying for a loan through County Federal is simple; you can fill out an application in-person at any of our branch locations, or you can enjoy the convenience of filling out and submitting an application for any of our available loan types online. Applying takes just a matter of minutes. If you have any questions along the way, one of our experienced and friendly loan advisors is happy to help.

 

Borrowing from a credit union is convenient and simple, especially when you turn to our team at County Federal. Contact us today to find out more about our loan offerings or to begin the process of completing an application.

 

1*APR= Annual Percentage Rate. Rates as low as 9.365% APR, your rate may be higher depending on your credit profile. Personal loan interest rates range from 9.365% to 19.365% APR. All loan policies, rates and terms are subject to change without notice and all loan requests are subject to Credit Union approval. Terms offered up to 48 months. Other rates and terms are available. All loan rates quoted above (excluding credit cards) include a 2% discount for automatic payments; if opting out of automatic payments add 2% to base rate Maximum loan term based on amount financed. Payment amount per every $1,000 borrowed at 9.365% for 48 months equals $25.07 per month. For more payment samples, use our payment calculator or call 408-282-0700.

 

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