Personal Loans
Unwrap the Money You Need for Black Friday AND an Extra $50*
Just Use Promo Code HOLIDAY50
Apply NowCall 800.845.5025
Why to Use a Personal Loan Instead of a Credit Card
With all the tempting sales, you’re probably going to do some Black Friday shopping. It’s a great time to buy holiday gifts and to treat yourself to something nice. But instead of using your credit card and adding debt, we recommend taking out a Personal Loan. Why?
6.99% APR*
Connexus Personal Loan Rate
17.07% APR7
National Average Credit Card Rate
Having a rate over 17% means your credit card debt will grow fast if you can’t pay off the balance right away. It’s risky if you don’t have the money, so choose the low rate and affordable payments of a Connexus Personal Loan. It could save you a lot of money in the long run.
We’ll even give you an extra $50* if you apply by Nov. 20 with promo code HOLIDAY50.
Lowest Available Rates
Accurate as of 10/12/2018
Secured Personal Loan
2.99% APR1
(fixed)
Unsecured Personal Loan
8.99% APR26.99% APR* (fixed)5.88% APR (fixed) with promo code POSTHOLIDAY8
Personal Line of Credit (FlexPlus)
9.74% APR3
(variable)
Personal Line of Credit (Flex)
11.24% APR4
(variable)
Savings Secured Loan
4.00%5 Above Account Yield
(fixed)
Secured and Unsecured Personal Loan rates include a 1% discount when registered to Digital Banking and subscribed to eStatements, and a 1% discount for auto-paying electronically. Personal Lines of Credit and Savings Secured Loans are excluded from rate discounts.
Figure Out Your Monthly Payment
Use our calculator to find out how much your monthly payments could be.
Personal Loans
A Personal Loan is a set amount of money you can borrow to consolidate debt, cover bills, etc. It allows you to receive all the money at once and make monthly payments over the term of your choice.
Features
- Flexible Terms — We can build a loan that’s right for you.
- No Prepayment Penalty — It’s okay to pay off your loan early.
- No Application Fee — There’s no harm in applying.
- Biweekly Payment Option Available — Two biweekly payments equal one monthly payment.
Learn More About Personal Loans
Related Blog Posts
Debunking Common Myths About Personal Loans
Personal loans are often misunderstood. Many people have doubts that may prevent them from reaping the benefits of a personal loan.
Is a Personal Loan Right for Me?
Opening a personal loan is a commitment, so we’ll help you find out if it’s right for you.
Personal Lines of Credit
A Personal Line of Credit is a great solution if you have unexpected expenses. Our Flex and FlexPlus Lines of Credit are treated as a loan, so you only pay interest on the funds you actually borrow.
Features
- Multiple Interest Rate Adjustment Options — Flex Line of Credit adjusts monthly. FlexPlus Line of Credit adjusts quarterly.
- Flexible Line Amounts — Flex Line of Credit amounts range from $3,000 to $15,000. FlexPlus Line of Credit amounts range from $5,000 to $25,000.
- Low Payments — Minimum payments are 2% of the balance3,4.
- No Collateral Required — You can feel safe about your borrowing.
- No Annual Fees — Less fees means more money in your pocket.
- Biweekly Payment Option Available — Two biweekly payments equal one monthly payment.
Fees
See our Fee Schedule for a list of fees you may encounter.
FAQs: You Asked. We Answered.
Of course! There’s no prepayment penalty for paying off your loan early. Doing so will actually help you save on interest over the long run.
A Personal Loan has a set number of payments called the loan term (for example, 48 months). After you have made all 48 payments your loan is paid off and closed. A Personal Line of Credit has a minimum monthly payment, but no set term. You can advance your loan funds, pay it off, and repeat. It gives payment flexibility by allowing you to make the minimum payment or more, up to the full balance. The line stays open until you request it be closed.
To complete your application, you will need to provide:
- Desired loan amount and term
- Personal information (name, address, DOB, SSN)
- Contact information (phone, email)
- Financial information (monthly income & mortgage/rent)
You can apply online, over the phone, or at any branch location.
Disclosures
1 APR = Annual Percentage Rate. 2.99% APR is our lowest available rate as of 10/12/2018. Borrow $10,000 at 2.99% APR for 36 monthly payments of $290.77 or $29.08 per $1,000 borrowed. Minimum loan amount $2,500. Maximum loan amount $20,000. Rates includes a 1% discount when registered to Digital Banking and subscribed to eStatements, and a 1% discount for auto-paying electronically. Interest rate may increase by the amount of the discount(s) if you no longer meet the requirements. Other loan rates and terms available. Loan subject to approval and qualifications. Rate may vary on individual credit terms and relationship level. Certain restrictions may apply. Not valid on tuition expenses and interest is not tax deductible. Does not apply to loans currently financed with Connexus Credit Union. Rates subject to change.
2 APR = Annual Percentage Rate. 8.99% APR is our lowest available rate as of 10/12/2018. Borrow $10,000 at 8.99% APR for 60 monthly payments of $207.54 or $20.75 per $1,000 borrowed. Minimum loan amount $2,500. Maximum loan amount $20,000. Rates includes a 1% discount when registered to Digital Banking and subscribed to eStatements, and a 1% discount for auto-paying electronically. Interest rate may increase by the amount of the discount(s) if you no longer meet the requirements. Other loan rates and terms available. Loan subject to approval and qualifications. Rate may vary on individual credit terms and relationship level. Certain restrictions may apply. Not valid on tuition expenses and interest is not tax deductible. Does not apply to loans currently financed with Connexus Credit Union. Rates subject to change.
3 APR = Annual Percentage Rate. 9.74% APR is our lowest available rate as of 10/23/2018. Rate adjusts monthly based on prime plus a margin and applies to the entire outstanding balance. Maximum rate is 18.00% APR. Rate is variable. Finance charge begins to accrue on the day an advance is made on the line. Overdraft/NSF Transfer Fee $8.95, Modification Charge $29.00, Late Charge $15.00, and Returned Payment Fee $29.95. No annual fee. Minimum loan amount $5,000; maximum loan amount $25,000. Payments are calculated on 2% of the outstanding balance. Other Personal Line of Credit rates and terms available. Your Personal Line of Credit is subject to approval and the rate may vary based on your individual credit, term, and relationship level. Certain restrictions may apply. Not valid on tuition expenses and interest is not tax deductible. Does not apply to loans currently financed with Connexus Credit Union.
4 APR = Annual Percentage Rate. 11.24% APR is our lowest available rate as of 10/23/2018. Rate adjusts quarterly based on prime plus a margin and applies to the entire outstanding balance. Maximum rate is 18.00% APR. Rate is variable. Finance charge begins to accrue on the day an advance is made on the line. Overdraft/NSF Transfer Fee $8.95, Modification Charge $29.00, Late Charge $15.00, and Returned Payment Fee $29.95. No annual fee. Minimum loan amount $3,000; maximum loan amount $15,000. Payments calculated on 2% of the outstanding balance. Other Personal Line of Credit rates and terms available. Your Personal Line of Credit is subject to approval and the rate may vary based on your individual credit, term, and relationship level. Certain restrictions may apply. Not valid on tuition expenses and interest is not tax deductible. Does not apply to loans currently financed with Connexus Credit Union.
5 APR = Annual Percentage Rate. 4.25% APR is our lowest available rate as of 10/12/2018. Rate is fixed and is based on 4% over the current account APY. APY = Annual Percentage Yield. Borrow $10,000 at 4.25% APR for 60 monthly payments of $185.30 or $18.53 per $1,000 borrowed. No minimum loan amount. Maximum loan amount $100,000. Other loan rates and terms available. Loan subject to approval and qualifications. Rate may vary on individual credit terms and relationship level. Certain restrictions may apply. Not valid on tuition expenses and interest is not tax deductible. Does not apply to loans currently financed with Connexus Credit Union. Rates subject to change.
6 APR = Annual Percentage Rate. Maximum loan amount $10,000. Finance charge begins to accrue on the date an advance is made on the line. Overdraft Transfer fee of $8.95 applies to each transfer. No annual fee. Loan subject to approval and qualifications. Certain restrictions may apply.
7The national average credit card interest rate as of 10/11/2018 on www.creditcards.com/credit-card-news/rate-report.php, is 17.07% APR. The lowest available Connexus Personal Loan rate of 6.99% APR is 2.44x lower than 17.07% APR.
*To receive the $50 and an interest rate as low as 6.99% APR, enter promotion code HOLIDAY50 during the application process. Offer valid on new Personal Loans of a minimum of $5,000. $50 will be deposited into your Connexus savings account within 45 days upon receipt of the first full loan payment. One full loan payment is defined as two biweekly payments, two semi-monthly payments, or one monthly payment. The $50 is considered taxable income and is subject to income tax reporting. The lowest available interest rate of 6.99% APR includes a 1% discount when registered to Digital Banking and subscribed to eStatements, and a 1% discount for auto-paying electronically. Interest rate may increase by the amount of the discount(s) if you no longer meet the requirements. Rate may vary on individual credit terms and relationship level. Certain restrictions may apply. One offer redemption per membership. Offer subject to change or termination. Connexus employees are eligible to receive offer. Offer valid on Personal Loans opened between 10/17/2018 and 11/20/2018 and does not apply to Personal Loans currently financed at Connexus Credit Union.
Federally Insured by NCUA