Taxes are due! Your computer hard drive just failed! You need a vacation! But your budget says no... That's what our Personal Loans are for. Your good credit and signature is all the collateral we require to get you the funds you need quickly. We grant Personal Loans for any provident purpose. The maximum loan amount is up to $10,000.00 (depending on qualifications); all personal loans are scheduled to be repaid within three years. We offer valuable yet affordable member payment protection on Personal Loans.
Debt Consolidation may be just the answer to rescue you from that never-ending stream of bills. Consider this...if you max out a $3000 credit card at 17% APR and make only the minimum payment it could take as long as 15 years to pay off that single debt and your total finance charges could be more than DOUBLE the original $3000 balance. With a debt consolidation loan from Central Coast FCU that same debt can be paid in full in as little as three years. We'll combine all your personal debts into one loan scheduled to pay off in three years. Loans are available up to our policy limit of $10,000.00- the actual amount we will loan depends on your qualifications. We only ask that the credit lines we are paying off be closed and remain closed for the term of your loan. We also offer valuable yet affordable member payment protection on Debt Consolidation Loans.
Some members may wish to borrow against their own funds held in their credit union account to enjoy the benefits of even lower rates and more flexible terms. Members may borrow up to 100% of the available balance in their account for share secured loans and 90% of the available balance in their term share certificate for certificate secured loans. The maximum term on a share secured loan is ten years. On a certificate secured loan, the term is that of the certificate- however you may roll over the loan on a renewed certificate. For either loan type, the minimum monthly payment due is $50.00.