Products & Services

Personal Loans

Need money for a household or personal expense, debt consolidation or higher education? An MCU Personal Loan is the simple solution.

An MCU Personal Loan helps you meet your important or unexpected needs.

Features & Benefits:

  • Low interest rates and affordable payments
  • Members who qualify may borrow up to $50,000 (minimum $1,000)
  • Use borrowed funds for any purpose
  • Consolidate your bills and lower your payments
  • Get extra cash for unexpected expenses
  • Direct Deposit or Payroll Deduction for payments
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If you have money on deposit in your Share Certificate of Deposit (CD), a CD Secured Loan allows you to borrow against those funds.

Features & Benefits:

  • Minimum loan amount of $500
  • 2 month minimum term/60 month maximum term
  • Continue to earn a dividend on the deposited funds

To Apply: Visit an MCU branch for more information.

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An MCU Education Assistance Loan (EAL) can bridge the gap between the total cost of school and the aid you are allowed to receive based on your FAFSA.

Features & Benefits:

  • Low Fixed Rates and flexible terms
  • Borrow up to $25,000
  • Covers total cost of attendance, housing and other school-related expenses
  • Funds are made payable directly to school
  • Easy repayment through Direct Deposit/Automatic Payroll Deduction
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*Important Information: Private loans, like the MCU Education Assistance loan, can be used when federal loans, grants and other forms of financial aid are not sufficient to cover the full cost of education. MCU Education Assistance loans are subject to credit approval, receipt of a completed and signed loan application/promissory note and self-certification form, verification of application information, acceptance of loan terms, and school certification of loan amount and student's enrollment at an accredited school. This loan does not offer a deferred repayment option. Installments are due 30 days from the date of disbursement. MCU services its Education Assistance loans and does not sell them to another lender. Although a cosigner is not necessary or required to apply for a private student loan, a qualified cosigner may help you get approved for a private student loan and possibly help you qualify for a better interest rate. Borrowers and cosigners are equally responsible for repayment of the loan. Upon request by the student borrower, cosigners are eligible to be released from the loan after any 36 consecutive payments of principal and interest are paid on time. The borrower must meet MCU's established credit criteria at the time of cosigner release. Other terms and conditions apply. Benefit programs are subject to change. Maximum annual loans up to cost of attendance, less other aid, but no more than the amount certified by your school. Aggregate maximum loan limits apply. This information was current as of 1/24/2012 and is subject to change. Contact Municipal Credit Union for the most up-to-date product terms.

personal loan
Unsecured Loanup to 60 Months 7.90%
Share Secured Loanup to 84 Months 4.50%
CD Secured Loan*Equal to CD Maturity
(up to 60 Months)
Education Assistance Loan**Equal to CD Maturity 8.95%

Visit our Rates page for more information