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What Can DCU Save You?

Personal Loans

Traditional signature loan – cash for any purpose



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Personal Loans

Personal Loan Benefits

  • Terms up to 60 months
  • Competitive fixed rates
  • Save with Relationship benefits and electronic payment

Please refer to Details and Rates tabs for additional information and important disclosures.

"Consolidate To
Eliminate Worry "

Open quote Thank you DCU for helping me achieve my financial goals and eliminate debt in 3 years as opposed to 10! Close quote

— Bkitten22, Ayer, MA

Personal Loan Details

  • Terms up to 60 months – That helps keep payments affordable on larger loan amounts.
  • Competitive fixed rates – Your rate and payment remain the same for the life of your loan.
  • Save with Relationship benefits and electronic payment – Save on rates when you qualify for Relationship benefits on your DCU Checking Account and make payments electronically (payment by transfer in Online Banking, Mobile Banking, Easy Touch Telephone Teller, DCU ATM, or internal DCU automatic transfers. Add 0.50% to rate for other payment methods.

Money-Saving Alternatives to Personal Loans

While a Personal Loan is convenient, it may not always be the most economical way to finance what you want to buy. Here are two money-saving alternatives...

  • Borrow against your car – If you have equity in your car, you can borrow against that equity with a DCU Auto Loan. The rates are much lower because you're pledging your vehicle as collateral on the loans.
  • Borrow against your home – If you have equity in your home, you can borrow against that equity with a DCU Mortgage or Home Equity Loan. The rates are typically the lowest available because you're pledging your home as collateral on the loans.

Personal Loan Rates

Terms / Features Our Best Rate*
  Annual Percentage Rate Estimated Monthly Payment
per $1,000
Up to 60 Months 8.75% $20.64

Rates are effective .

*Rates are determined by your personal credit history, account relationship, and payment method.

APR = Annual Percentage Rate.


Personal Loan is rated 4.4 out of 5 by 142.
Rated 5 out of 5 by from Fast delivery Quick response, approval , disbursement of check by fedex. Reasonably ok rate compared to credit cards
Date published: 2017-06-24
Rated 5 out of 5 by from Great Service! DCU staff are very helpful. They review the application quickly and respond to your questions effectively. DCU offers great conditions and pleasant dervice. Thank you all!
Date published: 2017-06-08
Rated 5 out of 5 by from DCU never fails to make me happy I applied for a personal loan online, and within 2 days (it would have been quicker had I not procrastinated) I had the loan finalized and money in my account instantly. Although they didn't approve me for the full amount I needed, i'm still very happy. All of the agents were super helpful on the phone and made everything stress free. I have been a DCU member for over 10 years. I got my first checking account and credit card with DCU and i'm so grateful for them because they've made me achieve a very good credit score by the time I was in high school - which most kids (even adults) don't have these days. DCU has always promised and delivered on their promise. I have recommended so many people to DCU (they all thought I worked for DCU because I did it so much!!) I just want to say thank you for staying true to your values and continuing to offer free checking and low rates.
Date published: 2016-11-02
Rated 5 out of 5 by from Excellent I was given a loan when I was dire need.Got great customer service and interest rate reduction.Just for paying my monthly due on time. DCU is by all standard one of the best financial institutions I know. Will be giving them my business and recommend highly to everyone.
Date published: 2016-10-17
Rated 5 out of 5 by from Personal Loans Even though a couple of the represntatives were a little short with me on how far they could actually go, once my situation got escalated to Colleen, she was so umderstanding and pleasant. She understoof my financial situation and went above and beyond for me...which really meant a lot. I am so gracious, and the process was too smooth. Shes amazing, and the service of the team leaders really went to bat for me. Devin also who told me about a cash out finance on my auto loan instead of doing an unsecured personal loan which worked for me!!! You guys are awesome.
Date published: 2016-09-24
Rated 5 out of 5 by from Good Option If You Need Funding Quickly Great experience with DCU on my recent personal loan. Applied over the phone at 8pm and funds were in my account by noon the next day! They made everything so easy and everyone was very helpful.
Date published: 2016-08-08
Rated 5 out of 5 by from Reasonable rates for credit card consolidation. Process to obtain loan was relatively quick, considering I now live in a small town in South Dakota. Payoffs were sent directly to my credit card companies. The turnaround from the time the paperwork was sent to loan payoffs posting was less than five business days. Friendly and efficient service.
Date published: 2016-08-01
Rated 5 out of 5 by from Loan process is really quick. I felt interest rate is high for me since im a account holder for 3+ years other than that process of DCU is so fast and helpful at time.
Date published: 2016-07-30
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Will I be able to get a consolidation loan with only working for two months?

I was laid off two years ago. I went to college in the meantime. My husband has been working full time with his company for four years now. I have recently, two months ago, been hired full time. I would like a consolidation loan for a few high interest cards. Do you think it is possible given that I have only been working for two months?
Asked by: Planks
If your loan application was pre-approved based on you providing the purchase and sales agreement, then yes, you need to submit this before any loan proceeds will be disbursed.
Answered by: DCU Staff
Date published: 2014-08-09

How long can the bill consolidation loan be for? 5 years, 10 years etc.

Asked by: Jenny
Jenny, Depending on the amount you borrow, your credit rating and your income the length of your consolidation loan may vary. You wouldn't take a 1000 dollar loan for 10 years and income dependent you wouldn't normally take 10000 dollars for 1 year. Typically consolidation loans will not exceed 5 years. This is to help you eliminate your debts quickly but also because consolidation loans are unsecured and present a high risk to the lending institution as there is no collateral. Sit down and list out all of your debt and your monthly payments. Determine what a comfortable monthly payment would be. Are you just making the minimum payments on credit cards? If so your statement will tell you how long it will take you to pay off your loan. Also, look at your interest rate. Often a consolidation loan will have a rate much lower (possibly even half) than what you are currently paying. Compare these figures to what your loan payments would be. Often you can make the same monthly payment on a consolidation loan as you are to all of your credit cards and pay it off sooner because of this lower interest rate. The Calculator section on the website is very helpful in determining what your monthly payments on a loan would be. When you think a consolidation loan is a good option for you, go in to your local DCU branch or apply on line for the amount you need to pay off your current loans. It is not good to borrow money unless you NEED it. Indicate that you wish to consolidate your loans (indicate which loans as well( so your debt to income ratio is adjusted properly for the loan application. DCU would never lend you an amount you couldn't afford to borrow. While the loan is being reviewed (24-48 hours, faster in branch) collect recent statements of all accounts you wish to consolidate. DCU will take this information to mail out payoffs to each of your creditors on your behalf to pay off and usually close the accounts. Any over payment will be sent to you by that creditor (use this money to make a principle reduction on your consolidation loan to save on interest). You can expect a slight dip in your credit rating when you close accounts especially if you have had them for a long amount of time, however your credit will improve over time and you will be in a better financial situation and debt free before long. Be careful not to reapply for credit because you can get yourself back into trouble. Once you pay it off be done with it. Use the extra money to put into a savings account and save for your future. Take advantage of DCU financial who can help you with your financial planning needs. How do I know all this? I used to work for DCU! I am no longer employed their but I learned how to improve my financial health and still spread the knowledge. Good luck and keep working towards your financial wellness! Hope that more than answered your questions, education is the most powerful tool you can have to be financial responsible.
Answered by: Bkitten22
Date published: 2016-08-11

Need Clarification

I don't have credit history, started building one.. Got job recently its been like 3 months, I would like to apply for Traditional signature loan (Personal Loan). Do you think it is possible to get a personal loan getting approved, for me with little / no credit history, given that I have only been working for three months?
Asked by: M
Better join as a DCU member and with low score DCU can support for your need . Join and built the bank trust and relationship ... Sure you will get all benefits .
Answered by: Deepak
Date published: 2016-01-23

Property without house yet

I want to purchase a piece of land in another state and put a home (not prefab) on it. Presumably this doesn't qualify as a mortgage, or it wil drop below your $50K minimum. Moving, the property, the home, and the labor to construct/connect/certify everything is as one cost to me. I've pre-qualified for a mortgage, but if DCU considers each a seperate loan, how could I manage it?
Asked by: Hopeful
For the best assistance pertaining to your specific situation, we would ask that you please contact our Mortgage department directly by calling 800-328-8797 option 3. We would be happy to then review this with you in a secured environment which would allow us to discuss details.
Answered by: DCU Staff
Date published: 2013-10-23

Can you have a cosigner on a personal loan

Asked by: Ash
Yes I did have a cosigner, whoever makes the most goes first.
Answered by: JLB15
Date published: 2015-01-17
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"Thank You!"

Open quote Customer service was exceptional!!! They explained everything in detail to me and their responsiveness was amazing. I would recommend DCU for anyone looking for a loan. Close quote

— Lyn, Raleigh, NC

Easy Ways To Apply for a Personal Loan

  1. Apply Online – 24 hours a day, 7 days a week.
  2. Apply by phone – 24 hours a day, 7 days a week call 800.328.8797 or 508.263.6700 and press 3.
  3. Any DCU Branch – Visit your local branch.

"Great Customer Service "

Open quote My experience with DCU has always been positive.The representatives are helpful and friendly. The process is very smooth and effortless. Close quote

—  Peggy, Franklin, MA

Personal Loan Related Links

  • Loan Calculator – Use these calculators to determine an approximate loan payment based on the loan amount (loan cash), term, and credit history standing. This helps you see if a loan will fit within your budget.
  • StreetWise Guide to CreditStreeWwise guide helps you understand how credit works, how to use it responsibly, how to know if you are having difficulty with it, and what to do if you are.
  • Skip a Payment (.pdf format) – You have the option to skip a loan payment without impacting your credit rating.
  • Calculate Finance Charges – Sometime members have questions about how Finance Charges or Interest on their DCU loan accounts are calculated. This information is designed to make the information in your loan disclosures a little easier to understand.
  • Schedule of Fees and Service Charges – Details regarding member benefits that may help you avoid fees.
  • Financial Wellness and Recovery – Learn what DCU can do for you if you are now or think you may soon experience a financial setback. The earlier you contact us, the more we can do to help.
  • Loan Payment Method Authorization (.pdf format) – Use to have DCU set up electronic loan payments by transfer from your DCU savings or checking account. Note: you can set this up on your own with Online Banking Automatic Transfers.