Beginnings Credit Union’s Personal Loans can be used for a variety of purposes to fit your unique needs.
Personal loans can be used for debt consolidation, medical bills, home improvements, emergency costs, and more.
What documents do I need to bring for a loan?
Each loan is unique, but in general you will need to bring or know:
- Proof of Income (paystubs, social security statement)
- Identification (driver's license, military ID, passport)
- Purpose for the loan
- What is an affordable payment you can budget to repay the loan each month?
What are some other loan types if I need help with cash flow?
We have many different options for your personal loan:
Shared Secure Loan
You may choose to secure a loan with funds you have on deposit in your Credit Union savings or certificate account. When you use shares to secure your loan, your savings continue to earn dividends at the current rate, and you benefit from our lowest loan finance rate.
Revolving Line of Credit
We offer an option to establish a line of credit with a fixed rate, then borrow against that line as needed. You make regular monthly or bi-weekly payments based on the balance, and as your principal payment amount is paid down, you may again borrow up to your personal line of credit without making another application. Credit and rate updates are required every three years.
Share Draft Loan Protection
If you occasionally need extra cash for an emergency or a special purchase, you can apply for share draft loan protection. This coverage allows you to write a share draft (check) for the amount you need (up to a pre-approved limit). Any amount over your current balance automatically becomes a loan. It's a fast and convenient way to write yourself a loan.
No prepayment penalties
Flexible repayment terms
Easy to pay online
Set-up automatic payments
Quick application process
Certified credit counselors available
Borrower Security
This protection could cancel your loan balance or payments up to the contract maximums. Purchasing protection is voluntary and won't affect your loan approval. It's simple to apply. Ask us about eligibility, conditions, or exclusions.**
Tell your friends.
There's something in it for everyone.
Invite your friends and family to open a new checking account with us and everyone will receive a certificate redeemable for a $25 gift card to spend how you like.
*All loans subject to approval. Membership eligibility requirements apply. Federally Insured by NCUA.
Your APR will be between 8.00% and 20.00% based on creditworthiness at the time of application for a loan term of 12-60 months. For example if you get approved for a $10,000 loan at 10.00% for a term of 36 months, you'll pay 322.67 per month.
**Insurance products are not insured by NCUA or any Federal Government Agency; are not a deposit of, or guaranteed by Beginnings Credit Union or any affiliated entity; and may lose value. Any insurance required as a condition of the extension of credit by Beginnings Credit Union need not be purchased from our Agency but may, without affecting the approval of the application for an extension of credit, be purchased from an agent or insurance company of the member’s choosing.