Personal Line of Credit
A personal line of credit is a simple and affordable way to get on top of your finances. You can use the funds to pay for anything you like, or you can keep the money in reserve for a rainy day. You can even use your line of credit to consolidate your debt.
Benefits of a personal line of credit with UCU
- Pay a low APR* on your monthly balance
- Use your funds for any purpose - no restrictions
- Quick and simple access to funds
- Transfer funds from credit line to checking account with digital banking
| Interest Rate | Fees |
|---|---|
| As low as 15.44% APR1 | No annual fee or cash advance fees |
Frequently asked questions
- How is interest calculated on my UCU Personal Line of Credit? You'll pay interest on the balance of your UCU Personal Line of Credit account at the end of the billing cycle each month. If you have no balance because you didn't use any funds yet -- or you paid it all off—you won't be charged any interest. Your APR will be based on factors such as your credit score and will fluctuate slightly with the market rates. Apply today.
- How does getting money and paying it off on my UCU Personal Line of Credit work? You'll have a limit on how much funds you can use based on your UCU Personal Line of Credit limit. You can “draw” on your line of credit by making a transfer from that account into your University Checking Account or UCU savings account. The period of time you can use the funds for is called the draw period. When you pay off the balance, you can use the funds again.
- What can I use my UCU Personal Line of Credit for? You can use your UCU Personal Line of Credit for anything you like! You can use the funds to pay for a specific purpose you have in mind, or to meet unforeseen expenses like car repairs and health care bills. You can also use your line of credit as an emergency fund or to consolidate small amounts of debt. If you have a lot of debt, you may prefer to apply for a UCU Consolidation Loan.
- Will a UCU Personal Line of Credit help improve my credit score? Yes, making monthly payments on your UCU Personal Line of Credit is a good way to build credit. Just be sure to pay at least your minimum amount due on time every month. Follow your credit score with our Credit Journey tool.
- How is a UCU Personal Line of Credit different from a personal loan? A UCU Personal Line of Credit is like a credit card—you can use it as much as you like or use it when you need. You only pay interest on the funds you use. Your monthly payment varies with how much funds you use, and your interest rate is variable, too. By contrast, a UCU Personal Loan means you get a lump sum of cash, and you pay it back in equal amounts every month over the loan term. You agree to a fixed interest rate, which is part of your monthly payment.
Resources from University Credit Union
Enjoy digital banking
You can access all your accounts anytime, anywhere, saving time and helping you operate more efficiently.
Learn more about Enjoy digital banking 
Financial tools
UCU provides educational modules to make you an expert in budgeting, home loans, retirement, and more.
Learn more about Financial tools 
Account services
Enjoy free ATMs nationwide, secure domestic and international wire transfers, and access convenient digital banking.
Learn more about Account services Giving our University Communities a financial advantage
University Credit Union offers membership to employees, students and alumni of UCLA, Pepperdine University, Loyola Marymount University, Santa Clara University, Saint Mary's College, UC Irvine, UC Davis, UC San Diego, Georgia Tech, University of Texas at Arlington, Abilene Christian University, Mount St. Mary's University, Chabot College and Las Positas College, West Coast Conference Universities, Western Athletic Conference Universities, and other universities throughout California. UCU offers a variety of products and services including checking accounts, credit cards, home mortgages, auto loans, personal loans, commercial loans, insurance, investments, as well as digital banking.
University Credit Union offers membership to employees, students and alumni of UCLA, Pepperdine University, Loyola Marymount University, Santa Clara University, Saint Mary's College, UC Irvine, UC Davis, UC San Diego, Georgia Tech, University of Texas at Arlington, Abilene Christian University, Mount St. Mary's University, Chabot College and Las Positas College, West Coast Conference Universities, Western Athletic Conference Universities, and other universities throughout California. UCU offers a variety of products and services including checking accounts, credit cards, home mortgages, auto loans, personal loans, commercial loans, insurance, investments, as well as digital banking.
*APR = Annual Percentage Rate.
1Rates are based on an evaluation of credit history and other factors specific to your personal line of credit and may be higher than the lowest rates advertised. Rate may change based on the index which is the Prime Rate as regularly published in the "Money Rates Table" of the Wall Street Journal. The current index for this quarter as of 12/19/2024 is 7.50%.
Consolidation Loans
Combine your debt into one monthly payment with a competitive interest rate with a consolidation loan.
Learn more about Consolidation Loans Personal Loans
Go on a honeymoon or vacation or pay for a vehicle repair with a personal loan.
Learn more about Personal Loans Find a location near you
You're covered from coast to coast with 30,000 surcharge free CO-OP ATMs and 5,000+ shared branches