Need a new auto? Is there a vehicle that you can’t get out of your mind? Our auto and RV loans are here to make it the one you can afford! Here’s what we offer:
- Competitive interest rates. Fixed rates as low as 5.99% can be offered to borrowers in good standing.
- Flexible repayment schedule. Repay the loan in affordable monthly installments within up to 84 months.
- New and used auto financing. Any vehicle less than 10 years old can be financed. Choose the one you like and get it!
- Up to 100% financing. Don’t wait until you save enough money. Options with no down payment can make your dream a reality today!
- Pre-approval is available. Get pre-approved without affecting your credit score and see what terms we can offer you today. Bet you’ll be surprised by how affordable our auto and RV loan options are!
- Quick credit decision. There’s no need to wait for days! We’ll turn back to you with a response shortly after getting your loan request form.
Note: Auto and RV loans are secured loans. Your vehicle will be used as security and can be repossessed if you won’t fulfill your loan payment obligations.
Mortgage Loans
Make your American dream come true with Educational CU! Enjoy the benefits of being a homeowner and let us take care of the rest! Our attentive managers are always at your service to guide you through the first-time home-buying experience and help you find the right solution for your unique situation. Here’s what you’ll get:
- Repayment terms of up to 30 years;
- Variable interest rates of as low as 6.99% for borrowers in good standing (a 3-year rate lock is available);
- Options with $0 down payment is available for military families;
- Minimal documentation;
- Wide selection of property options.
Pre-qualify today with no impact on your credit score. Choose the fast, safe, and free way to understand what you may be able to borrow tomorrow.
Home Equity Loans and Lines of Credit
Already a homeowner? Let your home be the means to reach your financial goals! Home equity loans and lines of credit can help you get a percentage of the equity you own for various financial needs. Whether you want to finance your education, start a new business, or make home renovations, these products can get you covered!
Home equity loans vs. Home equity lines of credit (HELOCs)
A home equity loan allows you to get a percentage of your available equity in a lump sum deposit. You get the funds transferred into your bank account and will then be obliged to make equal monthly payments within the set term. An interest rate can be either fixed or variable.
A HELOC allows you to access a revolving line of credit that you can use as needed. The main difference is that you pay interest only on the amount you use. Typical HELOCs come with 10-year draw periods that allow borrowers to withdraw money within the available credit line. When the draw period ends, a borrower must repay the amount they have drawn plus interest. During the draw period, you make only minimum payments, which are typically the interest on the amount you borrow.
At Educational CU, we offer reasonable home equity options for our member’s convenience:
- Loan terms of up to 20 years (for HELOCs: a 10-year draw period + 20-year repayment term);
- The ability to get up to 85% of the equity you own;
- Interest rates as low as 6.64% (both fixed and variable options are available; the interest rate will be determined based on your credit score);
- Use the funds for any personal needs.
Note: Your equity serves as collateral and can be foreclosed if you fail to repay the funds on time. Assess your ability to repay thoroughly or seek credit counseling before applying for a loan.
Bad Credit Loans
Bad credit? We’ve all been there! Don’t let it hold you back from your bold financial goals. Bad credit loans from Educational CU eliminate the need to take extreme measures. Our members deserve all the best! No matter your credit, you can access the financial assistance you need to get back on track.
What is considered bad credit?
Any FICO score that is under 670 is considered bad credit. If your credit rating falls under this category, you are more likely to face difficulties when it comes to getting financial assistance. Banks commonly have strict eligibility requirements and accept borrowers in good standing only. At Educational CU, we offer reasonable alternatives to bank loans that are flexible, affordable, and bad credit friendly.
We offer:
- Loan amounts of up to $15,000;
- Flexible repayment terms of up to 60 months;
- No minimum credit score requirements;
- Reasonable interest rates that are capped at 36%;
- Fast loan processing;
- Pre-approval is available.
Note: Your eligibility and the maximum loan amount available will be determined based on your income. Collateral may be required for borrowers with low and moderate incomes.
Signature Loans
Our members trust us, and we trust them back. Your good name is the only guarantee we need to provide you with the needed amount. No collateral is required for borrowers in good standing. That’s how our signature loans work!
It’s just that simple! Get the best loan conditions on the market, including:
- The ability to borrow up to $35,000 with no repayment guarantee;
- Up to 5 years repayment terms;
- Interest rates as low as 8.55%;
- Fixed monthly installments – your payments will be predictable within the whole loan term;
- Financing with an approved co-signer is available;
- No prepayment penalties;
- Funding within 24 business hours after you get approved.
Who is eligible?
- Members of Educational CU in good standing only;
- Have a valid checking account;
- No less than 18 years old;
- Permanent US residents;
- Have income confirmation.
We believe you deserve all the best and treat you accordingly! Need fast cash without risking your assets? Educational CU can meet your expectations.
Payday Alternative Loans (PADs)
Need short-term assistance while your credit leaves much to be desired? Don’t let payday loans trap you! Access our affordable payday alternative loans and feel the difference!
Payday loans vs. PADs
Payday loans are small loans that must be repaid in full in 2 to 4 weeks. These loans come with limited amounts (usually up to $1,000) and extremely high costs. As payday lenders don’t want to disclose their interest rates, they express loan costs in flat fees. You can expect to pay an extra $10 to $30 for each $100 borrowed. This way, a payday loan APR is typically a three-digit number, making them quite expensive.
Payday alternative loans offered by Educational CU are flexible options that can be repaid in affordable monthly installments within 3 to 6 months. Their APR is capped at 28%, so you won’t become a victim of hefty interest. More than that, PADs come with higher loan amounts, so you can use them to cover bigger financial projects.
PADs from Educational CU offer:
- Up to $2,000 loan amounts;
- Flexible repayment terms of up to 6 months;
- No minimum credit score requirements;
- APR capped at 28%;
- The ability to pre-qualify without affecting your credit;
- Fast funding within a business day.
We take care of each member and do our best to prevent you from financial decisions that can negatively affect your financial future. Solve your financial problems fast and easily without the risk of getting into a debt cycle!