Get the cash you need at an interest rate you'll love.
From debt consolidation and unexpected expenses to financing vacations outside of Baltimore, Maryland and everything in between, MECU Credit Union's no-fee personal loans make cash flow worry-free.
Get a secured or unsecured loan, or personal credit line
Unsecured Personal Loans
Competitive rates with no collateral requirement.- No application fee, origination fee, or prepayment penalty
- Loan amount up to $30,000*
- Easy online application with fast decision
- Protect your loan with low-cost Loan Payment Protection.
Personal Line of Credit
You can use a Personal Line of Credit anytime.- Unsecured line of credit with a pre-set limit
- Lines of credit from $500 up to $30,000*
- Works similarly to a credit card - apply once and receive a credit limit
- Access your account through MECU Online Banking, MECU telephone teller, or a MECU branch
- Use as overdraft protection for your checking account
- No application fee, origination fee, or prepayment penalty
- Protect your loan with low-cost Loan Payment Protection.
Share/CD Secured Loan
Build your credit by borrowing against your MECU savings. You'll receive an incredibly low rate while continuing to earn interest on your Share Savings or CD account.- Borrow up to 100% of a Share Savings/CD account balance
- Enjoy an interest rate of 3.5% above the rate on your Share Savings/CD account
- No application fee, origination fee, or early pay off penalty
- Protect your loan with low-cost Loan Debt Protection.
Unsecured Personal Loan Apply for a Loan> |
Unsecured Personal Line of Credit Apply for a Loan> |
Share/CD Secured Loan Apply for a Loan> |
|---|---|---|
| Uses | ||
| Bill consolidation, car repairs, and other expenses | Emergency fund, car repairs, and Overdraft Protection | Tuition expenses, bill consolidation, and other expenses |
| Collateral Required | ||
| No | No | Yes (backed by Share Savings/CD) |
| Interest Rate (fixed APR*) View add'l rates> |
||
| As low as 10.24% | As low as 12.74% | 3.5% above Share Savings/CD rate |
| Fees (application, origination, or prepayment) | ||
| None | None | None |
| Access | ||
| One-time, lump sum loan | Ongoing access, works like a credit card | One-time, lump sum loan |
| Decision Process | ||
| Easy online application, fast decision | Apply once for a pre-set limit | Simple approval tied to account balance |
| Features | ||
| Optional low-cost Loan Payment Protection is available | Optional low-cost Loan Payment Protection is available | Continue earning interest on secured account; optional low-cost Loan Payment Protection is available |
Banking with MECU Credit Union in Maryland means belonging to a local financial institution that invests in the Baltimore community and offers competitive rates on personal loans and other lending products.
Apply by Phone with our Loan by Phone team: 443-263-8343
Disclosures
*APR=Annual Percentage Rate. The minimum loan amount may be higher and the maximum loan amount may be lower than stated above depending on the loan type and your credit score, income, debt-to-income and total unsecured debt with MECU. Other terms and conditions may apply. Subject to credit approval and membership eligibility.
