Personal Loans
A personal loan is money you borrow from a financial institution with a fixed interest rate that you repay through fixed monthly payments. Members 1st Federal Credit Union is a trusted source for personal loans in Pennsylvania. Become a member to create an account and apply for your personal loan. We offer some of the lowest personal loan interest rates on the market:
Personal Loan Rates
Valid as of
| Loans Over $25,000 | Loans Under $25,000 | |
|---|---|---|
| Term | APR* | APR* |
*APR = Annual Percentage Rate. Available terms may be restricted by loan amount and/or credit score. Rates effective as of 10/1/2024. $2,500 in new money required. Loans may be subject to other terms and conditions. See rates or ask an associate for details.
HOW YOU CAN USE A PERSONAL LOAN
A personal loan can provide you with low-interest funding to help you afford numerous expenses, including:
- Debt Consolidation
- Home Improvement
- Vacations and Travel
- Wedding
- Medical Emergencies
- Vehicle Repairs
Why Choose Members 1st
Members 1st's personal loans can connect you with the funds you need for life's expenses. Whether you're consolidating high-interest debt, covering sudden medical expenses, paying for emergency vehicle repairs or completing a home renovation project, Members 1st can help you accomplish your goals with affordable, convenient borrowing options. Here's what makes Members 1st a trusted credit union to open a personal loan with:
LOW INTEREST RATES
Low interest rates will help you maximize the benefits of your personal loan. We compete by providing some of the best terms for personal loans, with interest rates ranging from 12.39% to 12.99% APR.
FLEXIBLE TERMS
Borrow less than $25,000 and choose from loan terms up to 60 months, or up to 180 months when you borrow more than $25,000. Plus, there is no application fee.
FREE QUARTERLY FICO
Knowledge is power, especially when it comes to your personal financial awareness. Four times a year, you'll receive a free FICO® credit score report just for being a member.
NO REPAYMENT PENALTIES
Want to pay off your personal loan ahead of schedule? That's awesome! Members 1st is committed to helping you improve your financial standing, so we'll never penalize you for paying early.
ONLINE TOOLS AND SUPPORT
Managing your personal loan shouldn't require a finance degree. So, we'll help you get started with tools that keep things simple, like the option to set and forget recurring payments online. You can access a variety of financial tools through our mobile banking app.
MEMBERSHIP PERKS
When you join Members 1st, you become part of a financial family. Our members benefit from an expansive network of branch locations, financial concierge services, digital money management tools and numerous loyalty rewards.
HOW DO I APPLY?
Applying for a personal loan with Members 1st is quick and easy. Our simple process ensures we have all the information we need to provide the right personal loan for your situation. To get started, register for a Members 1st account with your email. Then, open a personal account by selecting your product, providing some personal information, making a $5 deposit and submitting your application. We provide loan decisions as quickly as we can. Approval for larger more complex loans may take longer than others.
PERSONAL LOAN APPLICATION CHECKLIST
Members 1st strives to make the loan application process as fast and simple as possible. Preparing some important information ahead of time can ensure the smoothest application process and the quickest decision. Here's what you'll need to have ready:
Apply Now
The loan application will take just a few minutes to complete. We may ask you for additional information to verify your income or your Members 1st account.
If you are not a member yet, don't worry. We will sign you up as part of the process.**
We can't wait to welcome you to the faM1ly.
Common Questions
While we can make many decisions immediately, loans with more complex circumstances or higher values may take longer. Our team strives to provide fast decisions.
Personal loans are used for multiple purposes. We offer personal loans for as little as $500. Loans up to $75,000 are based on affordability, credit history, and other factors.
Consideration for a personal loan requires a review of your credit report. When credit is pulled, an inquiry is placed on your credit record. While the impact of individual inquiries cannot be determined exactly, a strong impact on your credit score is more likely with repeated or excessive inquiries in a short period of time. Applications for credit on a reasonable, periodic basis are not likely to create a lasting negative effect on your credit score. We do suggest monitoring your credit report by taking advantage of your free annual credit report available at www.annualcreditreport.com.
Our personal loans are available for consumer and household needs. Business loans can be applied for with our branch managers or contact MyConcierge™.
You'll have to become a member to secure a personal loan from Members 1st. Fortunately, our membership application takes only a few minutes. You can register online to become a member and apply for your personal loan.
Our personal loans do not require collateral. Unlike the loans you'd take out for a house or car, personal loans are unsecured and collateral-free. Your only immediate financial commitment will be opening a Members 1st account and making a $5 deposit.
Members 1st personal loan funds are often available the next day, although the time may vary with the amount and delivery method. You can choose to receive your loan through either a direct deposit or check. Direct deposit takes one to two business days to clear. Checks take five to seven business days.