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Personal and Business Banking

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 Plus and Relationship benefits and electronic payment
  • Use for large purchases or to consolidate debt

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 Plus and Relationship benefits and electronic payment – Save on rates when you qualify for Plus and 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

Our Best Rate*
Terms / Features Annual Percentage Rate Estimated Monthly Payment
per $1,000
Up to 60 Months 7.50% $20.04

Rates are effective .

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

APR = Annual Percentage Rate.

Personal Loan is rated 4.3 out of 5 by 164.
Rated 5 out of 5 by from Personal loan Excellent rate and extremely convenient to apply. When additional information is needed the process is very well administered . I am not located near the main office therefore communication os paramount. In the case of DCU the implementation of the process was of utmost importance.
Date published: 2019-03-30
Rated 5 out of 5 by from Just what I needed! Thank you so much for coming through for me!! Credit repair is a confusing and frightening place! But with DCU, I get the answers and solutions I need to solve every problem!! You have given me the tools to feel empowered!! Thank you Rachel! She was awesome! She never gave up! Thank you to the loan department for working with me!! And thank you Leo, for thinking outside the box!! With DCU on my team, the dream of home ownership isn't far off!!!! Thank you all again!!!
Date published: 2019-03-16
Rated 5 out of 5 by from Great rates Outstanding customer service. Knowledgeable, friendly staff. Easy to understand products and services
Date published: 2018-12-22
Rated 5 out of 5 by from Great Products Great bank, and their banking features are wonderful.
Date published: 2018-12-11
Rated 5 out of 5 by from Fast, great service Fast, great service from start of loan application to receiving funds.
Date published: 2018-11-26
Rated 5 out of 5 by from Great rate Extremely easy. Applied at night, had the funds the next day!!!!
Date published: 2018-11-24
Rated 5 out of 5 by from Best Bank ever...with best rates offered I like their customer service and best rates offered for my average credit score.
Date published: 2018-11-03
Rated 5 out of 5 by from Fantastic services Customer service did great job !!fast and easy really help me with my hard times I love DCU!!
Date published: 2018-09-06
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H1 visa holders qualify for personal loans?

Asked by: No name
Yes based on yoir credit score.
Answered by: Sam
Date published: 2018-03-17

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
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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.
  • How to Make Your Loan Payment – We make it easy to make your loan payment. Find out more about our convenient payment options.
  • 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.