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Personal Loans

Whatever loans and whatever line of credit

Do you have a purchase in mind or an upcoming project and need some extra money? Whether you would like to consolidate existing debt, pay tuition, finance a wedding, or even plan a family vacation, LutheranFCU offers convenient personal loans at very competitive rates! Think of this as your “whatever you need” financing option. 

Personal Loans

Do you have a purchase in mind or an upcoming project and need some extra money? Whether you would like to consolidate existing debt, pay tuition, finance a wedding, or even plan a family vacation, LutheranFCU offers convenient personal loans at very competitive rates! Think of this as your “whatever you need” financing option. 

Whatever Loans


The Whatever Loan gives you a simple, flexible way to borrow for nearly any personal need. With predictable monthly payments and competitive rates, it is designed to help you move forward with confidence and clarity.

 

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Details

  • A flexible way to borrow funds for almost any lending need.

  • Lump sum loan with fixed monthly payments.

  • Competitive interest rates starting at 8.90% (APRs starting at 9.05%)*.

  • Terms up to 5 years.

Whatever Line Of Credit


The Whatever Line of Credit gives you ongoing access to funds when you need them. Borrow only what you use, transfer money directly to your checking account, and enjoy the flexibility of a revolving credit option.

 

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Details

  • Borrow only what you need, when you need it.
  • Access your available credit at any time by transferring funds from your Whatever Line of Credit Loan directly to your LFCU Checking Account for immediate use.
  • Competitive variable rate APRs starting at 8.90%**.

Secured Whatever Loan


The Secured Whatever Loan lets you borrow using your savings as collateral, so you can cover necessary expenses without draining your account. It is a smart option for building credit while keeping your savings working for you.

 

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Details

  • Borrow against your savings at LutheranFCU.
  • Competitive interest rates starting at 2.00% (APRs starting at 2.17%)***.
  • Terms up to 72 months.
  • Each monthly payment unlocks access to a portion of your secured savings**.

Frequently asked questions about loans

What will I need?

Proof of Income

  • Recent pay statements showing year-to-date pay and all deductions
  • Self-employed applicants, please submit the two most recent year tax returns including all schedules.
  • Social Security Income and other Retirement Income, please submit two recent months of Direct Deposit records or most recent annual income benefit “award” letter with your most recent retirement 1099 tax form
How will I receive my monthly billing statements? Each month, an email notice will be sent to the primary borrower’s email address reminding you that your monthly E-statement is ready for viewing and\or printing. To access your monthly E-statements, just login to your Online Home Banking Account, choose “Online Services”, and then “E-statements”.
How can I make my loan payments?

There are many options for setting up your monthly payments.

  • You may set up a one-time or recurring payment by choosing the applicable option under the “Transfers” tab within your Online Home Banking Account if LutheranFCU is your primary financial institution.
  • You can set up a bill pay through your other financial institution to go towards your loan.
  • You can authorize LutheranFCU to automatically set up your monthly payments by ACH. To do this, please complete the Automated Loan Payment Authorization Request form.
Do you accept credit cards or debit cards for loan payments?

No. We do not currently accept credit cards or debit cards for loan payments.

You may make payments through another financial institution's bill pay service, or you may authorize LutheranFCU to set up monthly payments by completing the Automated Credit Card Payment Authorization form.
Can I get my loan payoff verbally?

To request a payoff amount, please email loans@lutheranfcu.org and we will send you a 10-day payoff letter.

Disclaimer

* APR is the Annual Percentage Rate. Rate referenced above is the lowest rate possible for qualified borrowers and is based on underwriting criteria. There is a one-time $50 loan processing fee. Loan example: $15,000 at 8.90% for 60 monthly payments of approximately $310.65 each with a corresponding APR of 9.05%. All loans are subject to approval. Additional terms and conditions may apply. Rates are subject to change at any time.

** APR is the Annual Percentage Rate. Rate referenced above is the lowest rate possible for qualified borrowers and is based on underwriting criteria. Rate will adjust monthly based on Prime Rate published in The Wall Street Journal plus a margin based on underwriting criteria with a maximum APR limit of 18.0%. $50 set up charged at 

origination. $50 annual renewal fee for ongoing access to the Lind of Credit. Line of Credit payment example: With an outstanding balance of $10,000, the minimum payment would be $250.00. As a variable rate loan product, rate and payment is subject to increase after consummation. All loans are subject to approval. Additional terms and conditions may apply.

*** APR is the Annual Percentage Rate. There is a one-time $50 loan processing fee. Loan example: $15,000 at 2.00% for 48 monthly payments of approximately $325.43 each with a corresponding APR of 2.17%. All loans are subject to approval. Additional terms and conditions may apply.