Fixed-Rate Personal Loan
A DCTFCU Personal Loan has a fixed-rate based on the length of the term, loan amount and the borrower’s credit worthiness. The only collateral you need for a personal loan is your signature. (You may also know of this type of loan as a “Signature Loan”.) A personal loan is ideal for a one-time purchase or a short-term project. The entire loan amount will be issued to you when the loan is disbursed, and interest will be charged only on the declining balance. Your monthly payments will be the same each month.
QuickSilver Personal Line of Credit
The DCTFCU QuickSilver Line of Credit provides you with a reserve of funds to use anytime you need it. You can access the funds simply by writing a check. Best of all, it costs you nothing to open a QuickSilver account. You’ll only pay interest on the funds you use.
Your QuickSilver line of credit will be there when you need it for:
- Vacation Expenses
- Special Purchases
- Medical Bills
- Emergencies & Unexpected Expenses
Credit limits for QuickSilver range from $500 to $7500 with no annual fee or transaction fees.
Making It Easy for You
We’ll convert your share draft checking account to a QuickSilver account to give you access to your line of credit. As with your regular share draft checking, each time you write a check you’ll make a carbonless copy for your records. If you like, you can authorize a joint user, whose name will appear with yours on the checks.
QuickSilver allows you to keep your payments low by spreading them out over 24 months. Automatic payments through payroll deduction are required. QuickSilver comes with overdraft protection. However, you may also arrange to have an advance transferred to your checking account.
To be eligible for QuickSilver, you must have had a share draft account in good standing for at least 6 months and must have a good credit rating.
Personal Lending Rates
Effective December 1, 2022| Loan Type | Term | APR* | Loan Amount |
|---|---|---|---|
| Personal Loan | Varies | 8.09% - 17.84% | $25,000.00 max. |
| Quick Silver Line of Credit | Revolving | 15.25% | $7,500.00 max. |
| Educational Loan | Varies | 7.84% - 14.84% | $12,000.00 max. |
To apply for a Personal Loan or Line of Credit, complete and return your application to the credit union in person, by fax or by mail with your two most recent pay stubs and a copy of a government issued identification i.e. driver’s license.
*APR= Annual Percentage Rate. All rates and terms are based on an evaluation of each member’s credit history‚ loan-to-value (LTV) payment type, loan amount‚ and loan purpose‚ so your rate and terms may differ. All loans are subject to credit approval. Direct Deposit and/or Payroll Deduction required for C and D Borrowers.