Our Summer Loan gives you flexible funds for all your sunny adventures.
Make the most of the season! Whatever your plans, our Summer Loan can take the stress away and make this a year you won’t forget.
Affordable financing for the bright days ahead.
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Borrow as little as $500
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Competitive, fixed rates as low as 9.49% APR*
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Choose the ideal timeline to make your repayments
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Get up to a 0.50% APR discount1
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Get your money in a convenient lump-sum payment, deposited straight into your account
Whatever your summer plans, UCU is here to help you cover the costs.
Enjoy the season without financial stress. Click the button below to start your application.
Frequently asked questions
- How do I qualify for a Summer Loan?
Qualification for a Summer Loan is based on several factors, including your membership status with University Credit Union, your creditworthiness, income, and overall financial standing. We will review your credit history and ability to repay the loan to determine your eligibility. Being a member in good standing with UCU is a prerequisite.
- How long is the Summer Loan available?
The Summer Loan is a limited-time offer. You can apply for a Summer Loan through August 31st of this year. Be sure to apply now to take advantage of this opportunity.
- Where do I apply for a Summer Loan?
You have two convenient options to apply for a Summer Loan. You can easily apply online through our digital banking platform from the comfort of your home or anywhere with internet access. Alternatively, you can visit any of our University Credit Union branch locations and speak with a member service representative.
- I already have a loan with UCU, can I also apply for a Summer Loan?
Yes, each loan application is reviewed individually based on your current financial situation and creditworthiness. In fact, having an existing loan with University Credit Union paired with a Summer Loan can actually help you earn dividends on your University Checking Account!
- What are the rates for a Summer Loan?
The Annual Percentage Rate (APR) for our Summer Loan starts as low as 9.49%. The specific rate you qualify for will depend on various factors, including your credit score, loan amount, and repayment term. We encourage you to apply, and we will provide you with the specific rate you qualify for based on your individual circumstances.
- What can I use the Summer Loan for?
Our Summer Loan is a personal loan, which means you have the flexibility to use the funds for a variety of needs. This could include covering summer travel expenses, funding home improvement projects, consolidating other debts, or any other personal expenses you may have.
- What are the loan amounts available for the Summer Loan?
The available loan amounts for the Summer Loan will vary depending on your individual financial profile and borrowing needs. Contact our loan officers if you have any questions about the online application process.
- What are the repayment terms for the Summer Loan?
The repayment terms for the Summer Loan will vary based on the loan amount and your preferences. We offer flexible repayment options, and our team will work with you to establish a repayment schedule that fits your budget.
- Are there any fees associated with the Summer Loan?
We strive to be transparent with our members. Details regarding any potential fees associated with the Summer Loan will be clearly outlined in the loan agreement. We encourage you to review this information carefully before finalizing your loan.
- How quickly can I receive the funds after my Summer Loan is approved?
Once your Summer Loan application is approved, we work to disburse the funds as quickly as possible. The exact timeframe may vary depending on the application method and any required documentation, but we aim for a prompt and efficient process.
- Can I make extra payments on my Summer Loan without penalty?
Yes, in most cases, University Credit Union allows you to make extra payments on your loan without incurring any prepayment penalties. Making extra payments can help you pay off your loan faster and reduce the overall interest paid.
- What if I have more questions about the Summer Loan?
If you have any further questions about the Summer Loan, please do not hesitate to contact us. You can reach our member service team by phone, email, or by visiting one of our locations. We are here to help!
*APR = Annual Percentage Rate. Rates are based on an evaluation of credit history and other factors specific to your loan (such as loan term, loan amount, as applicable) and may be higher than the lowest rates advertised.
1Rate with Automatic Payment from a University Checking Account may be discounted by 0.25% APR as long as the rate does not fall below 9.74%. Credit Cards, HELOCs, and mortgages are excluded. Repeat Borrower discount of 0.25% can also be applied based on minimum 6 months of positive UCU loan repayment history.