Find the Best Personal Loan for Your Needs
Space City CU personal loans give you access to the cash you need, no matter the reason. From paying for an emergency expense, consolidating debt, to remodeling your home, we have you covered. Plus, all our personal loans offer low, competitive interest rates and flexible payment options.
While some personal loans require collateral — something owned by the borrower, such as an auto, home, etc., that’s pledged as security for repayment of a loan and forfeited in the event of a default — Space City CU also offers Members “unsecured” (collateral-free) personal loans based on creditworthiness.
- Competitive interest rates
- Easy online application process
- Flexible payment options including setting automatic payments, timeline and pay dates, and your choice of payment account
- You can use your cash for whatever you want or need
Line of Credit
Be prepared for life’s unplanned events with a revolving line of credit that lets you borrow up to your maximum credit limit as often as you like. Enjoy loans and lines of credit up to $10,000, access funds quickly and easily when you need them, and choose the option that works best for you—including overdraft protection for your Space City CU checking account, a signature loan, or a personal line of credit.
Certificate of Deposit (CD) Secured Loan
A personal loan backed by your Space City CU CD as collateral—providing added security with the option for the CD to be used as payment if loan terms are not met—offers flexible repayment terms of up to 60 months, loan amounts starting at $500, and a competitive APR calculated at 3.00% plus the dividend rate earned on the Share Account securing the loan (for example, if your Share Savings earns a 1.00% APY, your loan APR would be 4.00%).
Ready to start your loan application?
Before you begin your application, you will need the following:
1.
Personal information such as employment, income, and housing status.
2.
Preferred amount and loan term.
3.
Space City CU Membership (Not a Member? Apply online along with your loan application!)
Personal Loan Frequently Asked Questions
What is the difference between an unsecured and a secured personal loan?
Unsecured personal loans do NOT require collateral. Secured personal loans DO require collateral. Collateral is typically something the borrower owns, like a car, home, etc. It is pledged as security for loan repayment and will be forfeited if the borrower defaults. Regarding Space City CU’s secured personal loans, you can use a certificate of deposit (CD) or a share savings account to secure the loan extended to you.
What is collateral?
Collateral is typically something the borrower owns, like a car, home, etc. It is pledged as security for loan repayment and will be forfeited if the borrower defaults. Regarding our secured personal loans, you can use a certificate of deposit (CD) or a share savings account to secure the loan extended to you.
When will I receive the funds from my personal loan?
Once we receive the necessary information and approve the loan, your loan funds will become available within one business day.
How can I make a payment on my personal loan?
There are several ways to make your personal loan payment. The easiest way is to transfer funds from your Space City CU savings account or checking account to your personal loan using our digital banking. You can also make a payment by calling 800-794-5692 or by using our Message Pay feature,
Can I make additional payments and pay off my personal loan early?
Yes. There are no prepayment penalties for paying off your personal loan earlier than your original term. In fact, it is a great way to reduce interest payments over the long run!
What documents are required to apply for a loan?
When you apply for a Personal Loan, the following documents are required:
- Valid Driver’s License/State Identification
- Proof of Income: Paystub if employed or W2 or Tax Return if Self Employed
- Voided Check for Autopay
Who can I talk to if I have more questions?
Contact us at 713-222-1244 for more information or visit your nearest Member Center. We are here to help.
Ready to Get Started?
We’re ready for you! Start the approval process online or give us a call at 713-222-1244.
Our financial calculators are provided as a free service to our Members. The information supplied by these calculators is from various sources based on calculations we believe to be reliable (but are not guaranteed, explicit or implied) regarding their accuracy or applicability to your specific circumstances. All examples are hypothetical and are for illustrative purposes and are not intended to provide investment advice. Space City CU does not accept any liability for loss or damage whatsoever, which may be attributable to the reliance on and use of the calculators. Use of any calculator constitutes acceptance of the terms of this agreement. Space City CU recommends you find a qualified professional for advice with regard to your personal finance issues.