Personal Loan
You can use a SchoolsFirst FCU Personal Loan for any purpose. Available in amounts from $500 to $50,000, these loans require no collateral. Just complete the simple application process to have your loan funded quickly.
Features
- No application or funding fees
- Terms up to 60 months
- No collateral needed
- ¾ percentage point discount for automatic payments made from your SchoolsFirst FCU account
Personal Loan Rates
The rates quoted are effective as of 9/2/2010 and are subject to change without notice.
|
APR |
Loan Amounts |
Maximum Loan Term |
 |
|
11.90%* - 18.00% |
$0 - $799 |
12 |
|
$800 - $1,499 |
18 |
|
$1,500 - $2,499 |
24 |
|
$2,500 - $4,999 |
36 |
| $5,000 - $9,999 |
48 |
| $10,000 - $50,000 |
60 |
 |
SchoolsFirst FCU's maximum aggregate personal loan limit is $50,000 per qualifying Member. This includes all individual and joint personal loan credit combined.
* SchoolsFirst FCU has a loan program which features a range of interest rates for some of its
consumer loans. A rate is based on a variety of factors, including the applicant's
credit rating and SchoolsFirst FCU account history. These rates reflect a ¾ percentage point
discount for payment through automatic transfer from an SchoolsFirst FCU Share Savings or
Checking account.
Recent changes in regulatory requirements to loans with the purpose of post-secondary education expenses requires additional disclosures and completion of a
self-certification form. The borrower must sign and complete a self-certification form before funds can be disbursed on a Special Curriculum, Higher Education or Personal loans for the purpose post-secondary education expenses.
In addition, the new regulation gives the borrower a three day rescission period. During the rescission period the borrower can cancel the loan and the lender cannot disburse loan funds. The rescission period starts when the all applicable loan documents have been signed by the borrower(s).
