Whether you need to manage everyday spending, treat yourself to something new, pay off high-interest credit cards and other loan balances we’ve got the right loan to fit your budget.
Fixed rate-loans as low as 9.50%APR¹
Why an unsecured loan from MCLCU?
No Fees!
- No application fee
- No origination fee
- No pre-payment penalty fee
- As long as you pay on time there are no fees.
Quick Turnaround
- In many cases our unsecured loans can be approved and funded the same day!
Low Rates
- Fixed-rate loans as low as 9.50% APR¹
Rate includes discounts², see details below
Personal Loans
Cash when you need it most with a loan tailored to fit your needs and lifestyle.
Sometimes the thing you need the most to keep moving forward is cash, pure and simple. Life doesn’t always go how you plan—emergency expenses, medical bills, home repairs, or large purchases can pop up unexpectedly. Whether you are short on cash or want to preserve the cash you have, a personal loan can get you where you want to be.
A personal loan is ideal for financing a single expense, large or small. With a personal loan from MCLCU you will get competitive fixed interest rates, flexible terms, no pre-payment penalties or fees and a fast and easy application and approval process.
Debt Consolidation Loans
Stop juggling multiple payments every month and consolidate everything into one easy loan payment and save money.
What are debt consolidation loans?
Debt consolidation loans are loans that allow you to pay off an existing debt, such as credit cards or other outstanding debt, with a new loan. The goal of these loans is to allow you to pay off your debt faster than you might have originally by offering different terms than your initial loan or debt might have.
How do debt consolidation loans work?
The goal of debt consolidation loans is to offer a lower interest rate and more favorable terms than the initial loan or debt, allowing you to pay it off more quickly and with typically lower payments. While you’ll still make monthly payments, these payments may be lower than your previous ones and/or will end more quickly due to the improved interest rates.
Many people use debt consolidation loans after they realize they can save substantially on the interest they have been paying on their existing debt. Other people use them to combine their existing debt (such as credit card bills and personal loans) into one easier-to-manage lump sum payment every month. If you have a plan to pay off your debt, and your debt is not out of control, debt consolidation loans can be a perfect solution to help control your payments every month.
How do debt consolidation loans affect my credit score?
While everyone’s unique credit situation is different, debt consolidation loans can begin to improve your credit score over time if regular payments are made and the loan is paid down and ultimately paid off in a timely manner.
¹ APR=Annual Percentage Rate. Advertised rate is based on excellent credit history. Membership and other qualifications apply. The interest rate you receive will be determined by your creditworthiness and loan term. Rates subject to change. All loans subject to approval.
² Receive a 0.50% discount on an approved loan when you set up an automatic payment from your MCLCU checking or savings account. Borrowers on approved loans with an existing MCLCU checking account with 10 or more debit card transactions per month, or other qualifying activity will receive a 0.50% discount. Call (708) 482-7606 for complete details.