Personal loans

Get a personal loan with flexible financing and competitive rates for all your expected and unexpected needs. Flexible uses include: pay taxes or supplement a tax refund; finance moving expenses; buy appliances or home remodel furnishings; pay for braces, vacations, weddings, or home repairs. Whatever the need, have the cash to handle an emergency, cover your next big purchase or make a dream come true. There’s no fee to apply.

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Benefits of a personal loan

  • Money-saving options include:

  • Flexible terms up to 60 months

  • Borrow between $250-$75,000, based on credit qualifications

  • No application fee or early prepayment penalty

  • Fixed rates and set monthly payments. Learn more: What is a personal loan?

Personal Loan rates
Effective Date: Wednesday, June 19th, 2024
Loan typeAPR (Low)*APR (High)Repayment terms

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Personal Loan 11.99% 19.24% Up to 36 months
Personal Loan 16.24% 19.24% 37-60 months
Payday Advance 27.00% 27.00% Up to 30 Days
Savings-secured loans:
  • The APR is set at 3% above the secured savings account's earning rate. There is a minimum periodic rate of .013699% which equals an Annual Percentage Rate of 5.0%. The credit union may offer other rates in the future. We may be able to match rates from other lenders. All loans are subject to approval.
Certificate-secured loans:
  • The APR is set at 3% above the certificate's earning rate. Advances secured by credit union certificates are made at a rate based upon the earning rate of the certificate. The Periodic Rate and the Annual Percentage Rate are set at the time of the advance that is the earning rate on the pledged certificate, plus 3%. For example, if you pledge an account earning 5.00% your Periodic Rate would be .021918% and your Annual Percentage Rate would be 8.00%. The actual rate will be disclosed on the Disbursement Receipt at the time of the advance.

About these Personal Loan rates

* APR (Low) indicates the lowest annual percentage rate you may qualify for on the loan. The annual percentage rates shown in the table are reflective of a range of rates available. All loans are subject to approval. You may qualify for the lowest rates published depending upon your credit qualification, the amount financed, receiving a 0.25% APR reduction by maintaining an automatic loan payment each month and 0.25% APR reduction for qualifying for the Premier Member Merits category. The Member Merits rate discounts are subject to change.

Payment examples

The following examples illustrate the expected monthly loan payments for members who qualify for the prime rate, premier member merit status and enroll in automatic monthly payments:

  • A $5,000 Personal (Signature) Loan with 11.99% APR for 36 months has a monthly payment of $166.04.
  • A $5,000 Personal (Signature) Loan with 16.24% APR for 60 months has a monthly payment of $122.23.
  • If you delete your automatic payment request or the credit union terminates your automatic payment request due to insufficient available funds, this interest rate may be increased by one-quarter of one percent (0.25%) for the remaining term of the loan. This rate change will be reflected on your credit union statement.

Why choose a personal loan?

  • It's flexible, based on credit history of the borrower, unlike a collateral secured option, such as a car or home loan.

  • It can be a good alternative to other types of loans such as Payday or high-interest credit cards.

What is a personal loan?

An Oregon State Credit Union personal loan is an unsecured loan with a fixed interest rate that you pay back in fixed monthly payments over a set period of time, called a term.

  • Loans can be either secured or unsecured.

    • A secured loan is one where the debt is backed by some sort of collateral.

    • An unsecured loan is debt that is not backed by collateral.

  • Loans come with fixed interest rates or variable rates.

    • A credit card is an example of a variable rate loan. The interest you pay will fluctuate over time because it is based on a benchmark or index interest rate that changes periodically.

    • A personal loan has a fixed rate, meaning the interest rate is locked in when you close the loan and will not change during the term of the loan. The monthly payment on a personal loan will be the same each month. That’s called a fixed payment. For other loans, like a credit card, you might pay a different amount every month.

  • The term of the loan.

    • When you close on your personal loan, you agree to pay it off in equal payments for an agreed upon number of months. This is called the term of the loan.

    • A personal loan from Oregon State Credit Union has no pre payment penalties, so you can always pay your loan faster by making larger monthly payments; however, you must pay at least the minimum payment each month and have the entire loan paid off by the end of the loan’s term.

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