Loans and credit for unexpected expenses
Looking for a loan without collateral (like a car, a boat or a home)? A personal loan (also known as an unsecured or signature loan) is probably the solution for you. We offer personal loans with a variety of terms and loan amounts, depending on the purpose of the loan. We also offer share-secured loans for those looking to borrow against their own money, or for those looking to build credit, but don't have or don't want to tie a vehicle or house to the loan.
| Type of Loan | Term | APR* | Payment/$1000 |
|---|---|---|---|
| Personal Loan + Co-Application/Guarantor Loan | 12 Months | 8.75% | $87.32 |
| 24 Months | 9.00% | $45.68 | |
| 36 Months | 9.25% | $31.91 | |
| 48 Months | 9.50% | $25.12 | |
| 60 Months | 10.00% | $21.25 | |
| Tuition Assistance Loan** | 12 Months | 8.75% | $87.32 |
| Overdraft Protection Line of Credit^ | Line of Credit | 11.00% | N/A |
| Fuel Assistance Loan | 12 Months | 6.50% | $86.29 |
| Express Loan | 12 Months | 18.00% | $91.67 |
| Accessibility Lifestyle Loans | 12 Months | 8.50% | $87.20 |
| 24 Months | 8.75% | $45.57 | |
| 36 Months | 9.00% | $31.80 | |
| 48 Months | 9.25% | $25.00 | |
| 60 Months | 9.75% | $21.13 | |
| Rental Assistance | 12 Months | 8.50% | $87.20 |
| 24 Months | 8.75% | $45.57 | |
| 36 Months | 9.00% | $31.80 |
| Name | Term | APR* | Payment/$1000 |
|---|---|---|---|
| eBikes | 12 Months | 8.50% | $87.24 |
| eBikes | 24 Months | 8.50% | $45.47 |
| eBikes | 36 Months | 8.50% | $31.58 |
| eBikes | 48 Months | 9.25% | $25.01 |
| eBikes | 60 Months | 9.75% | $21.13 |
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*APR = Annual Percentage Rate. The rates shown above are based on a highly qualified credit candidate. Rates may vary based on individual creditworthiness. Rates are valid as of 11/21/2024 and are subject to change without notice.
**Automatic loan payments qualifies you for a 0.25% APR reduction, with the exception of the Tuition Assistance Loan. All Personal, Student, Auto, Motorcycle, Trailer, Boat, and RV loans are eligible for an ANNUAL PERCENTAGE RATE reduction of 0.25%.
MIT FCU does not charge for the autopay service.
Discontinuing autopay will result in the loss of promotional 0.25% ANNUAL PERCENTAGE RATE reduction. Any increase in the ANNUAL PERCENTAGE RATE will result in an increase of remaining payments. For example, if Your loan was for $10,000 at 6.4% for 5 years, and the rate increased by 0.25% after 12 months, Your payment would increase by $0.95.
For the life of the loan this offer will never expire. However, the promotion may end at anytime and without notice.
^The fee/s for the payment of each overdraft: $25 Negative Balance fee. If multiple items are presented against your account on the same day, each item will be assessed a Negative Balance fee.
Personal Loans
When you need cash, but don’t want to use a credit card, a personal loan may be the way to go.
Express Loans
Express Loan helps for those last minute unforeseen expenses and /or emergencies quickly.
Accessibility Lifestyle Loans
An Accessibility Lifestyle Loan helps you to live your best life. With these loans you can finance any medical equipment, home modifications or devices needed to assist your everyday living.
Mobility Vehicle Loans
Mobility Vehicle Loans are for any converted vehicles with adaptive equipment for accessibility.