Personal loans are, well, personal. Whether you are looking to travel, upgrade your lifestyle, cover a minor emergency, consolidate your debt — or something else — our variety of personal loans are worth shopping.
A Personal Loan is, well, personal. You can use it for whatever you have going on in your life. Whether you are looking to travel, upgrade your lifestyle, cover a minor emergency, consolidate your debt — or something else — our custom personal loans can help get you there.
You can borrow up to $40,000.
Glad you asked!
Yes! You can make additional payments on your Personal Loan.
Yep! You can make payments toward this loan from Online Banking and you can make payments from a different bank account using our Make A Payment feature.
To verify your identity, we always ask that you come prepared with a government issued ID. It is important that it is not expired. Examples of acceptable IDs include a State Driver's License or a U.S or Foreign Passport. If we have trouble validating your ID, we may ask for a secondary ID. If you have a question about whether or not an ID can be used, just text us at 931.431.6800.
In addition to identification, you will also need to bring income verification. If you are using your personal loan for debt consolidation purposes, you will want to bring copies of your billing statements with ful account numbers and payment addresses as well.
A Personal Line of Credit (often abbreviated to PLOC) is a loan that functions similarly to a credit card (sans plastic.) You apply for a certain amount of funds and once you’re approved for a total amount to borrow, you’ll make advances (aka withdrawals) up to that amount whenever you want — zero fees or additional approval required. It helps to think about a PLOC like a life line that you tug on when you need a little bit of extra support. Just tug on the line and make withdrawals that work for you. This means you are only borrowing the money you need to complete a project, not one giant lump sum like a traditional loan.
The two biggest differences between a Personal Loan and a Personal Line of Credit are the types of interest rates for each loan and how one receives their funds. Personal Loans are fixed-rate loans and they are given to the member in one large lump sum. Personal Lines of Credit are variable rate loans and members receive access to a line of credit. They can borrow as much as they need without having to commit to a large lump sum.
This loan is great for projects that don't have a fixed price. If you are remodeling your kitchen, adding a deck to your home, paying for some additional college courses, etc. this is a great option for you. It allows you the flexibility to borrow what you need instead of requiring you to borrow a larger sum.
These financial tools are very similar. The largest difference between the two is how they are accessed. Credit Cards are loans designed to be convenient for our members. Need a mini loan? Grab your credit card and get what you need. Because PLOCs do not come with a card, spending money does not ususally happen instantly. For many of our members that do not feel comfortable with a Credit Card or struggle with overspending or spurge-spending, a PLOC can be a great tool because it requires you to slow down and think before making a large purchase.
As many times as you would like. There is no limit to how many times you can make a withdrawal on a PLOC.
To verify your identity, we always ask that you come prepared with a government issued ID. It is important that it is not expired. Examples of acceptable IDs include a State Driver's License or a U.S or Foreign Passport. If we have trouble validating your ID, we may ask for a secondary ID. If you have a question about whether or not an ID can be used, just text us at 931.431.6800. Call or email us at info@forteracu.com to learn what additional documentation you will need.
Yes! You can make additional payments on your Personal Line of Credit.
This is a loan designed for members who own their home, but don’t have a ton of equity just yet. It allows members with great borrowing history to access the money they need with no collateral required.
With the Homeowner Advantage Loan, you can borrow as little as $5,000 and as much as $40,000.
Yes! You can make additional payments on this loan.
Yep! You can make payments toward this loan from Online Banking and you can make payments from a different bank account using our Make A Payment feature.