Consumer Loans

Signature Loans

Have unexpected expenses, want to consolidate debt, need a long overdue vacation, or want the latest gadget? If you need a quick, affordable option, then a personal loan might be the option for you.  Scott Credit Union offers several options to meet your need, including secured and unsecured loans. Let us help you find the right fit for you.

Signature Loan

  • Rates as low as 10.90% APR1
  • Low-rate unsecured loan
  • Up to 60 month terms

Getting a signature loan is as simple as filling out the application and signing your name. These types of unsecured loans are great when you need money in a pinch.  Since signature loans are unsecured, you don’t have to put collateral behind them in order to receive funds.  This makes them an option for people who don’t have a large amount in their savings or a share certificate to use as collateral.

Pledge Share Loan

  • 2.00% APR3 above current Share Rate or 2.00% APR2 above your Share Certificate Rate
  • Lower rates due to the collateral backing
  • Up to 60 month terms

Pledge share loans give you access to funds that are secured by the money you have in your share savings or share certificates.  Because these loans are secured by collateral, they carry lower rates than an unsecured signature loan.

1APR = Annual Percentage Rate. Rates are subject to change and are based on the applicant’s credit history. Loan example: The monthly payment on a $10,000 loan at 10.90% for 48 months would be $257.95. Terms for Signature Loans are based on the amount of the loan. Some restrictions apply.

2APR = Annual Percentage Rate.

3APR = Annual Percentage Rate.  If share rate changes then pledge share loan rate is also subject to change.

 

Rates

Rates effective as of January 18, 2017.

Type of Loan Term APR
Pledge Share Loans 60 Months 2.00% above current Share Rate or
2.00% above current Share Certificate Rate
Signature Loans 60 Months as low as 10.90%
Ready Reserve Overdraft Protection N/A as low as 16.00%
APR = Annual Percentage Rate. Rates are subject to change and are based on the applicant’s credit history. Loan example: The monthly payment on a $10,000 loan at 10.90% for 48 months would be $257.95. Terms for Signature Loans are based on the amount of the loan. Some restrictions apply.