Personal Loan vs Secured Loan
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Personal Loan
Get the predictability of a fixed rate when you don’t have funds to guarantee it.
Unlike a deposit-secured loan, a personal loan is not secured by collateral. But unlike a credit card, a personal loan offers a fixed term with set monthly payments.
APR*: Lock in your interest rate with a fixed APR from 10.99%.
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Secured Loan
When you want a lower rate and have the funds to guarantee your loan
With a deposit-secured loan, your savings or certificate account guarantees the loan. That means you’ll get a lower rate with a secured loan than a non-secured personal loan.
APR*: Lock in your interest rate with a fixed APR from 3.05%.
Example: Credit and collateral subject to approval. Advertised “as low as” annual percentage rates (APR) assume excellent borrower credit history and score of 740+. Rates are subject to change. Your actual APR may differ and will be based upon several factors, including credit history, loan type, model year, mileage, term, and loan amount. Payment example: New auto loan per $1000 for 63 months at 6.24% APR will have a monthly payment of $18.66.
Ready to get the financing you need?
How is my loan protected?
Elevations Loan Protection
Elevations Loan Protection safeguards your auto loan, personal loan, or secured loan in the case of an unforeseen event that impacts your ability to pay. If you can't make your payments and have a qualifying event, Loan Protection can make them for you.
Elevations Loan Protection benefits:
- Helps protect you and your family against financial hardship should the unexpected occur
- Helps protect your credit rating by avoiding late or missed payments
- Can protect up to two borrowers per loan
- Reduces the financial burden on your family should you die, become disabled, or lose your job
- Offers easy enrollment and simple eligibility requirements
You can sign up for Elevations Loan Protection when you open your loan or contact us to add it later.
More ways we can help you
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Visa Credit Cards
Be a card-carrying member of your community.
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Home Equity
Use your home's value to renovate, fund education, or even refinance debt.
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Energy Loans
Go green with financing for solar energy and energy-efficiency upgrades.
How can we help you?
Give us a call at (800) 429-7626 | Routing #307074580
$5 one-time membership fee and membership eligibility due at account opening.
All credit union loan programs, rates, terms and conditions are subject to change at any time without notice. Rate shown as low as for qualified borrowers. Rate may change dependent on credit qualifications and underwriting factors. Please speak with an Elevations representative for more information. Offers of credit are subject to membership requirements and credit approval.
*Annual percentage rate
^Annual percentage yield