Personal Loans and Personal Lines of Credit:
Your Path to Financial Flexibility
Whether you’re planning a small home project, looking for a way to pay off high-interest debt, or just need a little extra cash to hold you over to your next paycheck, a personal loan or line of credit from HVCU can help. Our unsecured loans and lines of credit are our most popular options, but we also offer loans and lines secured by savings accounts and certificate accounts.
Unsecured Loans and Lines of Credit
-
Credit that you can tap into on a revolving basis when you need it.
- Revolving credit limit offering up to $50,000
- Monthly payment equal to 2% of outstanding balance
- Can be used as overdraft protection for your checking account
- Conveniently access your funds at any HVCU branch or ATM, or through Internet Banking or Mobile Banking
- Free convenience checks
- Lower your rate by .25% when you have your loan payment automatically deducted from your checking, savings, or tiered money market account1
-
A one-time disbursement of cash paid back monthly for a specific term.
- Fixed loan amounts up to $50,000
- Terms up to 60 months2
- No payments for 90 days3
- Monthly principal and interest payments
- Lower your rate by .25% when you have your loan payment automatically deducted from your checking, savings, or tiered money market account1
-
A short-term loan that doesn’t require a credit check, and can help you build or repair credit.
Personal Assistance Loan (PAL)
- Loan amounts from $200 up to $1,000
- Fixed 6-month term4
- $20 application fee5
- No credit check required
- Instant loan decision
- 90 day membership requirement
PAL Plus
- Loan amounts up to $1,500
- Fixed 12-month Term4
- $20 application fee5
- No credit check required
- Instant loan decision
- 90 day membership requirement
Compare Unsecured Loans & Lines of Credit
| Loan Feature | Readi-Cash Line of Credit | Signature Loan | Personal Assistance Loans |
|---|---|---|---|
| Interest Rate | Variable
|
Fixed
|
Fixed
|
| Credit/Application Required | Yes
|
Yes
|
No
|
| Term | N/A
|
Terms up to 60 months 2
|
Up to 12 months 4
|
| Payment Type | Monthly payment is based on 2% of the loan balance at the end of the month or $10, whichever is greater | Monthly principal and interest payments
|
Monthly principal and interest payments
|
| Application | Apply online
|
||
| All Funds Fully Disbursed at Funding | No
|
Yes
|
Yes
|
| Funds Become Available After Payments are Made | Yes
|
No
|
No
|
| Source of Overdraft Protection | Yes
|
No
|
No
|
Check Out Our Personal Loan & Line of Credit Rates
Secured Loans and Lines of Credit
-
- Great for establishing or repairing credit
- Loans starting at $500
- Borrow up to 100% of the amount in your savings account
- Terms up to 96 months6
- Your savings account funds securing the loan are frozen while the debit is outstanding
- Provides you with a lump sum, which you pay back in monthly principal and interest payments
- Rate is equal to your current savings account’s dividend rate plus 3.5% (ADR + 3.5%)
- You may have only one pledge of savings loan or savings secured line of credit at a given time
- Holiday club accounts can’t be used to secure your loan
-
- Great for establishing or repairing credit
- Lines of credit starting at $500
- Borrow up to 100% of the amount in your savings account
- Your savings account funds securing the line of credit are frozen while the debit is outstanding
- Rate is equal to your current savings account’s dividend rate plus 3.5% (ADR + 3.5%)
- You may have only one pledge of savings loan or savings secured line of credit at a given time
- Holiday club accounts can’t be used to secure your line of credit
-
- Great for establishing or repairing credit
- Loans starting at $500
- Borrow up to 100% of the amount in your certificate account
- Terms start at 30 days7, not to exceed the maturity date of your certificate account
- Your certificate account funds securing the loan are frozen while the debit is outstanding
- Rate is equal to your current certificate accounts dividend rate plus 3.5% (ADR + 3.5%)
- A loan may be secured by only one certificate, but you may have more than one loan if you have multiple certificates
- IRA certificate accounts can’t be used to secure your loan
Compare Secured Loans & Lines of Credit
| Loan Feature | Pledge of Savings Loan | Savings Secured Line of Credit | Pledge of Certificate Account Loan |
|---|---|---|---|
| Interest Rate | Fixed
|
Variable
|
Fixed
|
| Credit/Application | Yes
|
Yes
|
Yes
|
| Term | Terms up to 96 months6
|
N/A
|
Terms start at 30 days, not to exceed the maturity date of your certificate account7
|
| Payment Type | Monthly principal and interest payments
|
Monthly principal and interest payments
|
Monthly principal and interest payments
|
| Application | |||
| All Funds Fully Disbursed at Funding | Yes
|
No
|
Yes
|
| Funds Become Available After Payments are Made | No
|
Yes
|
No
|
| Source of Overdraft Protection | No
|
No
|
No
|
Learning Center
-
Learn More About BorrowingHanding over car keysLearn More
Buying a Car from a Private Seller? Here’s What You Need to Know
Here are some tips for buying a car from a private seller that protect you from buying a lemon.Female college student holding booksLearn MoreAn Easy Guide to Student Loans
Here are five tips to help you get a better understanding of student loans. -
Learn More About Home Financingkitchen remodel sketchLearn More
What is Home Equity?
Home equity it will be is the difference between the current market value of your property and any liens, such as the balance owed on the mortgage.Couple looking over house plansLearn MoreIs a Renovation Mortgage Right for You?
Finance both the purchase price of a home, plus the cost of future repairs and/or updates. -
Learn More About Saving & BudgetingCalendar with page turningLearn More
Save $1,378 Dollars in One Year
Take the 52-week savings challenge to start building your savings today!Father with daughter holding piggy bankLearn MoreRaising Your Kids to Be Financially Independent Adults
Check out some tips for raising kids to be financially independent adults.
-
Learn More About InsuranceMan sitting on living room floor holding dog.Learn More
Your Complete Guide To Renter’s Insurance
Learn about the valuable aspects of financial protection and coverage offered by renter’s insurance.Exterior image of home with storm clouds aboveLearn MoreYour Complete Guide To Homeowners Insurance
Learn how to find coverage options without overpaying for more protection than you need.
What Your Neighbors Are Saying
HVCU Member
HVCU Member
HVCU Member
HVCU Member
HVCU Member
We Are Here to Help
Important Legal Disclosures & Information
1The stated rate is discounted by .25% and includes a requirement that loan payments are automatically transferred from your savings, checking, or tiered money market account for the life of the loan. The monthly payment is not decreased as a result of this discounted rate.
2APR=Annual Percentage Rate. Rates for this product are as low as 9.99% subject to applicant credit and total amount financed. Rates are accurate as of 11/1/24, and are subject to change without notice. As an example, a 5-year, 11.99% fixed rate signature loan for $15,000 would result in 60 monthly payments of $333.53.
3This offer is not guaranteed if you do not meet our credit criteria and if your account is not in good standing. HVCU personal loan refinances not eligible for the offer. No exceptions will be made or considered. Finance charges will continue to accrue and will be included in the first regularly scheduled payment, which will begin 90 days following loan closing. HVCU expressly reserves the right to terminate this offer at its discretion at any time and without further notice provided to you.
4APR=Annual Percentage Rate. Rates for this product are as low as 25.00% subject to applicant credit and total amount financed. Rates are accurate as of 11/1/24, and are subject to change without notice. As an example, a 6 month, 25% fixed rate Personal Assistance Loan for $1,000 would result in 6 monthly payments of $179.03 Your actual payment may be higher. All HVCU loan programs, rates, terms and conditions are subject to change at any time without notice.
5An application fee of $20 is charged for every Personal Assistance Loan application, whether or not the loan is approved.
6APR=Annual Percentage Rate. Rates for this product are as low as 3.52% subject to applicant credit and total amount financed. Rates are accurate as of 11/1/24, and are subject to change without notice. As an example, a 96-month, 3.52% fixed rate Pledge of Savings Loan for $1,000.00 would result in 96 monthly payments of $11.99. Your actual payment may be higher. All HVCU loan programs, rates, terms and conditions are subject to change at any time without notice.
7APR=Annual Percentage Rate. Rates for this product are as low as 3.70% subject to applicant credit and total amount financed. Rates are accurate as of 11/1/24, and are subject to change without notice. As an example, a 3-month, 3.70% fixed rate Pledge of Certificate Account Loan for $1,000.00 would result in 3 monthly payments of $335.88. Your actual payment may be higher. All HVCU loan programs, rates, terms and conditions are subject to change at any time without notice.