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Personal Loans

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You never know what life has in store. From PC purchase to debt consolidation, meet any expected or unexpected financial need with a personal unsecured loan.

  • Competitive rates as low as 7.74%*
  • Terms up to 63 months
  • Valid for debt consolidation, back-to-school, holiday or vacation loans
  • Purchase of PC or for paying medical expenses
  • No collateral - approval based on applicant's income and credit history
  • Fast online approval

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Personal Unsecured Loans
Effective Date: Monday, January 24th, 2022
Loan TypeAPR* as low asLoan Term in MonthsMonthly Payment per $1,000
Includes Debt Consolidation, Holiday & Vacation & PC Loans
  7.74% up to 63 $19.36
Share Secured
  2.99% up to 63 $17.17
Share Certificate Secured
  Add to Certificate 2.50% Up to 63  
Overdraft Line of Credit
$500 - $2,500 18.00% N/A  
Personal Line of Credit
$500 - $5,000 10.99% N/A  

Personal Line of Credit and Overdraft Line of Credit have an Annual Fee of $25.00.

For cash out or refinancing of existing Merrimack Valley secured loans, contact the Credit Union for rates, terms, and conditions.

APR is based on $10,000 financed. APR and term are determined by the evaluation of applicant's credit history and the actual rate and/or term may vary. We use risk-based pricing to determine the interest rate and/or term (see below).

What is Risk-Based Pricing?
Risk-based pricing is a system that evaluates the risk factors of your loan application and credit profile and adjusts the interest rate and/or term up or down based on this risk evaluation.

What Factors Can Affect My Loan Pricing?
We will obtain a credit report that shows the amount of debt you have outstanding and how you have historically paid on your debt. The credit report will also contain a "credit score" that ranks your credit history. Credit scores look at five main kinds of credit information, namely: payment history; amount owed; length of credit history; new credit; and types of credit in use. Generally, if you have had any history of nonpayment or late payments on any loans or debt, this may lower your credit score and increase your interest rate and costs. People with high credit scores consistently pay their debts on time, keep balances low on credit cards and other revolving loans, and apply for and open new credit accounts as needed.

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