Personal Loans & Lines of Credit

What is a personal loan?

A personal loan provides a lump sum of money with a fixed repayment schedule. It can be used for many purposes, such as consolidating debt, covering major expenses, or managing unexpected costs.

Trumark Credit Union offers signature personal loans as well as secured personal loans backed by savings or certificates.

Personal loan options include

• Signature personal loans with competitive rates and fixed monthly payments
• Secured loans using savings or certificates for potentially lower rates
• Stock-secured loans for eligible investments

A good credit score is the first step toward financial empowerment. It’s one of the deciding factors when you’re planning on buying your first house or car. If you’ve never had credit before, Trumark’s First Credit Loan can help you build your credit score while establishing a strong payment history.

Here’s how it works:

• Apply online or in your local branch
• Once approved, the total loan amount will be placed in a Trumark restricted share account where the funds will be earning dividends over the term of your loan
• You’ll make monthly principal and interest payments according to your repayment schedule (various terms are available). Your payments will be reported to the credit bureaus to establish a credit history and score.
• At the end of the loan term, the total loan amount will be available to you