Your friend just got engaged and asks you to be in the wedding. You're thrilled! Then she mentions it's a destination wedding in Italy. Suddenly, you're calculating flights, hotels, and that bridesmaid dress.
Or your laptop dies right before a big presentation. Or your dog needs emergency surgery. Life has a way of presenting these moments exactly when your savings account isn't ready.
But here's the good news: you don't always have to wait years to save up. Sometimes borrowing strategically makes more sense.
A personal loan gives you a lump sum of cash upfront that you pay back in fixed monthly payments.
Think of it as the opposite of a credit card. Instead of a spending limit you can use over and over, you get all the money at once, then chip away at it with predictable payments until it's gone.
This makes them perfect for one-time expenses where you know exactly how much you need.
Getting a personal loan doesn't have to feel complicated. Here's the straightforward process:
Most lenders want to see a credit score of 600+ and recent pay stubs.
Personal loan rates typically range from 6% to 36% APR, depending on your credit. Credit unions often beat big banks by 2-3 percentage points because we're member-owned, not profit-driven.
Online loan calculators let you plug in different loan amounts and terms to see what your monthly payment would be.
A good rule: keep total monthly debt payments under 40% of your income.
You'll need to provide income verification, employment details, and the loan purpose. Many applications take just minutes, and you'll typically get a decision within a day or two.
Once approved, most lenders can get your money to you within a few business days.
The key? Know what you can afford before you start shopping, and don't be afraid to ask questions along the way.
Personal loans aren't right for every situation, but they can be a great fit for certain goals. Here's where they make the most sense:
Juggling multiple credit card payments at 20%+ interest? Consolidating them into one personal loan at a lower rate can save you serious money and simplify your life.
Personal loans fund kitchen renovations, new roofs, and other projects faster than home equity loans, without putting your house on the line.
Weddings, medical procedures, or going back to school often can't wait for you to save up the full amount. Personal loans let you handle these milestones on your timeline.
When your emergency fund falls short, personal loans bridge the gap with better rates than credit cards.
Before you jump in, here's what matters most:
At City & County Credit Union, we keep personal loans simple and member-focused.
Our rates start as low as 7.99% APR with flexible terms up to 5 years. Whether you need $1,000 or $25,000, we'll work with you to find monthly payments that fit your budget.
What makes us different:
Ready to turn that financial goal into reality? Contact our team to find a loan that fits your specific needs, or explore your options below.